RES 02047 - Laserfiche WebLink

Section 5.12, Comoliance with Contracts. The City will comply with. keep. observe and perform all agreements. conditions. covenants and terms. express or implied. required to be performed by it contained in all contracts for the use of the Enterprise and all other contracts affecting or involving the Enterprise to the extent that the City is a party thereto. except where such compliance is being contested in good faith. Section 5.13, Insurance. The City shall procure or cause to be procured and maintain or cause to be maintained throughout the term hereof for the Enterprise insurance against the following risks in the following respective amounts: (1) insurance against loss or damage to the Enterprise or such structure or item of furniture or equipment caused by fire. lightning. or earthquake. with an extended coverage endorsement and vandalism and malicious mischief insurance and sprinkler system leakage insurance and boiler insurance. which such extended coverage insurance shall. as nearly as practicable. cover loss or damage. smoke and such other hazards as are normally covered by such insurance: provided that earthquake coverage shall be required only if available from reputable insurers at commercially reasonable rates, In the event the City is unable to obtain earthquake coverage on any portion of the Enterprise. which it previously has maintained. it will promptly so notify Moody's, The insurance required by this paragraph shall be in an amount equal to the greater of (i) the replacement cost (without deduction for depreciation) of the Enterprise or (ii) the principal amount of the Outstanding Bonds (except that such insurance may be subject to deductible clauses of not to exceed $100.000 for anv one loss); (2) worker's compensation insurance covering all employees working in or on the Enterprise. in the same arnount and type as other worker's compensation insurance maintained by the City for similar employees doing similar work; (3) a standard comprehensive public entity liability insurance policy or policies in protection of the City and its respective directors. officers and employees and the Trustee. indemnifying and defending such parties against all direct or contingent loss or liability for damages for personal injury. death or property damage occasioned by reason of the possession. operation or use of the Enterprise. with minimum liability limits of $1.000.000 for personal injury or death of each person and $3.000.000 for personal injury or deaths of two or more persons in each accident or event. and in a rninimurn amount of $150.000 (subject to a deductible clause of not to exceed $100.000) for damage to property resulting frorn each accident or event: provided. that such public liability and property damage insurance rnay be in the fornl of a single limit policy in the amount of $3.000.000 covering all such risks and may be maintained as part of or in , . conjunction with any other liability insurance carried by the City. Notwithstanding the above three provisions. as an alternative to providing the insurance required by paragraphs (1). (2) and (3) above (other than earthquake coverage). the City may provide a self-insurance method or plan of protection. Any such self-insurance maintained by the City pursuant to the foregoing sections. shall comply with the following terms: -29- Pleasanton Cross Town Indenture (2).DOC