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C. Waiver of Subrogation Endorsement as required by the section; and <br />d. Primary Insurance Endorsement as required by the section. <br />16.3 All Policies Requirements. <br />16.3.1 Acceptability of Insurers. All insurance required by this section is to be placed <br />with insurers with a Bests' rating of no less than A: VII. <br />16.3.2 Verification of Coverage. Prior to beginning any work under this Agreement, <br />Subdivider shall furnish City with complete copies of all Certificates of Liability <br />Insurance delivered to Subdivider by the insurer, including complete copies of all <br />endorsements attached to the policies. All copies of Certificates of Liability <br />Insurance and certified endorsements shall show the signature of a person <br />authorized by that insurer to bind coverage on its behalf. If the City does not <br />receive the required insurance documents prior to the Subdivider beginning <br />work, it shall not waive the Subdivider's obligation to provide them. The City <br />reserves the right to require complete copies of all required insurance policies at <br />any time. <br />16.3.3 Deductibles and Self -Insured Retentions. Subdivider shall disclose to and <br />obtain the written approval of City for the self -insured retentions and deductibles <br />before beginning any of the services or work called for by any term of this <br />Agreement. At the option of the City, either: the insurer shall reduce or eliminate <br />such deductibles or self -insured retentions as respects the City, its officers, <br />employees, and volunteers; or the Subdivider shall provide a financial guarantee <br />satisfactory to the City guaranteeing payment of losses and related investigations, <br />claim administration and defense expenses. <br />16.3.4 Wasting Policies. No policy required by this Section 16 shall include a <br />"wasting" policy limit (i.e. limit that is eroded by the cost of defense). <br />TRACT MAP 8519 <br />SUBDIVISION IMPROVEMENT AGREEMENT <br />G:\- PROJECTS -\San Leandro - MapleLane (Manor Bowl)\City\Planning\Subdivision Improvement Agreement 903 Manor (CAO Edit <br />7.22.21)_ac AJ edit 8.11.21.docx <br />PAGE 10 OF 20 <br />