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<br /> 5 <br /> <br />4.3.2 Verification of Coverage. Prior to beginning any work under this <br />Agreement, Port shall furnish City with complete copies of all <br />Certificates of Liability Insurance delivered to Port by the insurer, <br />including complete copies of any required endorsements. All <br />copies of Certificates of Liability Insurance and certified <br />endorsements shall show the signature of a person authorized by <br />that insurer to bind coverage on its behalf. If the City does not <br />receive the required insurance documents prior to the Port <br />beginning work, it shall not waive the Port’s obligation to provide <br />them. The City reserves the right to review complete copies of all <br />required insurance policies at any time. Port shall have 60 days <br />written notice to produce any contractor or subcontractor insurance <br />policies. <br /> <br />4.3.3 Deductibles and Self-Insured Retentions. Port shall disclose to the <br />City all self-insured retentions and deductibles before beginning <br />any of the services or work called for by any term of this <br />Agreement. <br /> <br />4.3.4 Wasting Policies. No policy required by this Section 4 shall include <br />a “wasting” policy limit (i.e. limit that is eroded by the cost of <br />defense). <br /> <br />4.3.5 Endorsement Requirements. Each insurance policy required by <br />Section 4 shall be endorsed to state that coverage shall not be canceled <br />by either party, except after 30 days’ prior written notice has been <br />provided to the City. <br /> <br />4.3.6 Contractors. Port shall furnish separate certificates and certified <br />endorsements for each contractor and subcontractor upon the <br />City’s request. All coverages for subcontractors shall be subject to <br />all of the requirements stated herein except the required limits <br />commercial general liability and automobile liability insurance shall <br />be in amounts dictated by the Standard Terms and Conditions of <br />Public Works Contracting at the Port of Oakland, commonly known <br />as the “Red Book”, but not less than $1,000,000. <br /> <br />4.4 Remedies. In addition to any other remedies City may have if Port fails to <br />provide or maintain any insurance policies or policy endorsements to the <br />extent and within the time herein required, City may, at its sole option, <br />order Port to stop work under this Agreement until Port demonstrates <br />compliance with the requirements hereof and/or terminates this <br />Agreement. <br />