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Exhibit B <br /> <br />INSURANCE REQUIREMENTS <br /> <br />Unless City agrees otherwise in writing, Owner shall, at Owner’s sole cost and expense, <br />throughout the term of the Note dated as of the date hereof and executed by Owner for <br />the benefit of City (the “Note”) shall keep and maintain the following policies of <br />insurance. Capitalized terms used without definition in this Exhibit B shall have the <br />meaning ascribed to such terms in the Loan Agreement of which this Exhibit is a part. <br />A. Property Insurance. Insurance for the risks of direct physical loss, with minimum <br />coverage being the perils insured under the standard Causes of Loss - Special form <br />(ISO Form CP 10 30) or its equivalent, covering all Improvements located on or in, or <br />constituting a part of, the Property, in an amount equal to one hundred percent (100%) <br />of the full replacement cost of all such property. <br /> <br />B. Liability Insurance. Commercial general liability insurance on an “occurrence <br />basis” covering all claims with respect to injury or damage to persons or property <br />occurring on, in or about the Property or the Improvements. Commencing upon the <br />Effective Date of the Loan Agreement and at all times prior to repayment of all sums <br />payable under the Note, the limits of liability under this Paragraph B shall be not less <br />than One Million Dollars ($1,000,000) combined single limit per occurrence. <br /> <br /> <br />E. General Insurance Provisions. All policies of insurance provided for in this <br />Exhibit shall be provided under valid and enforceable policies, in such forms and <br />amounts as hereinbefore specified, issued by insurers licensed to do business in the <br />State of California (or approved to do business in California and listed on the California <br />Department of Insurance list of Eligible Surplus Lines Insurers or successor listing) and <br />having a rating of A/VII or better in Best Insurance Guide or, if Best Insurance Guide is <br />no longer in existence, a comparable rating from a comparable rating service. Prior to <br />the closing of the Loan, and thereafter, not less than thirty (30) days prior to the <br />expiration date of each policy furnished pursuant to this Exhibit, Owner shall deliver to <br />City certificates evidencing the insurance required to be carried by Owner under this <br />Exhibit. <br />F. Modification to Requirements. The risk manager of the City may approve a <br />variation in those insurance requirements upon a determination that the coverages, <br />scope, limits and forms of such insurance are either not commercially available or that <br />the City's interests are otherwise fully protected. <br />Public Wi-Fi Installation <br />Loan Agreement <br /> <br />14