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03
City of Pleasanton
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2/25/2016 4:13:47 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/1/2016
DESTRUCT DATE
15Y
DOCUMENT NO
03
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maintain a comprehensive automobile liability coverage in the amount of Two Million Dollars <br /> ($2,000,000), combined single limit including coverage for owned and non-owned vehicles. <br /> Automobile liability policies shall name the Indemnitees as additional insureds. <br /> (c) Developer shall furnish to City evidence satisfactory to City that <br /> Developer and any contractor with whom Developer has contracted for the performance of work <br /> on the Property or otherwise pursuant to this Agreement carries statutory Workers' <br /> Compensation insurance and Employer's Liability insurance in a minimum amount of One <br /> Million Dollars($1,000,000)per accident. <br /> (d) Upon commencement of construction work and continuing until issuance <br /> of the final certificate of occupancy or equivalent for the Project, Developer and all contractors <br /> working on behalf of Developer shall maintain a policy of builder's all-risk insurance in an <br /> amount not less than the full insurable cost of the Project on a replacement cost basis naming <br /> City as loss payee. <br /> (e) Developer shall maintain property insurance covering all risks of loss <br /> (other than earthquake), including flood(if required)for 100%of the replacement value of the <br /> Project with deductible, if any, in an amount acceptable to City, naming City as loss payee. <br /> (f) Companies writing the insurance required hereunder shall be licensed to <br /> do business in the State of California. Insurance shall be placed with insurers with a current <br /> A.M. Best's rating of no less than A: VII. The Commercial General Liability and comprehensive <br /> automobile policies required hereunder shall name the Indemnitees as additional insureds. <br /> Builder's Risk and property insurance shall name City as loss payee as its interests may appear. <br /> (g) Prior to commencement of construction work, Developer shall furnish <br /> City with certificates of insurance in form acceptable to City evidencing the required insurance <br /> coverage and duly executed endorsements evidencing such additional insured status. The <br /> certificates shall contain a statement of obligation on the part of the carrier to notify City of any <br /> material adverse change, cancellation, termination or non-renewal of the coverage at least thirty <br /> (30) days in advance of the effective date of any such material adverse change, cancellation, <br /> termination or non-renewal. <br /> The additional insured endorsements for the general liability coverage shall use <br /> Insurance Services Office (ISO) Form No. CG 20 09 11 85 or CG 20 10 11 85, or equivalent, <br /> including(if used together) CG 2010 10 01 and CG 2037 10 01; but shall not use the following <br /> forms: CG 20 10 10 93 or 03 94. Upon request by City's Risk Manager, Developer shall <br /> provide or arrange for the insurer to provide within thirty(30) days of the request, certified <br /> copies of the actual insurance policies or relevant portions thereof. <br /> (h) If any insurance policy or coverage required hereunder is canceled or <br /> reduced, Developer shall, within five(5)days after receipt of notice of such cancellation or <br /> reduction in coverage, but in no event later than the effective date of cancellation or reduction, <br /> file with City a certificate showing that the required insurance has been reinstated or provided <br /> through another insurance company or companies. Upon failure to so file such certificate, City <br /> may, without further notice and at its option, procure such insurance coverage at Developer's <br /> OAK#4822-6539-6013 v3 35 <br />
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