RES 18-997 - Laserfiche WebLink

requirements in this Amended and Restated Agreement are sufficient to cover the Authority's obligations. The Authority shall maintain the insurance required by this Amended and Restated Agreement fora minimum of five years following the completion of the Fire Protection Services. In the event the Authority fails to obtain or maintain coverage as required by this Amended and Restated Agreement, Pleasanton or Livermore at their sole discretion may jointly or separately purchase the coverage required and the cost will be paid by the Authority. The premiums for insurance acquired by the Authority, as well as any anticipated funds necessary to pay for self-insured retentions and deductibles for insurance, shall be determined based upon actuarial studies and included in the budget. Any adjustments to the budget to pay for insurance premiums, self-insured retentions, and deductibles shall be prepared by the Fire Chief with the approval of the Joint Executive Directors for presentation to the Board of Directors for recommendation to the City Councils for Livermore and Pleasanton for consideration and approval. C. Subcontractors. The Board of Directors shall adopt minimum insurance requirements, as recommended by the General Counsel, Risk Manager, and Joint Executive Directors, for agreements with Subcontractors. D. Waiver of Right of Contribution. The Authority hereby waives and relinquishes any right of contribution it may have at any time against the Parties under California Government Code sections 895.2 and 895.6, or otherwise, for any claim for which the Authority is obligated by this Section 7. E. Waiver of Subrogation. The Authority agrees to release Livermore and Pleasanton, and waives its rights of recovery against them under the insurance policies required by this Amended and Restated Agreement. The Authority shall ensure that each policy of insurance includes a waiver of subrogation against Livermore and Pleasanton. F. Settlement Agreements. The Authority shall not enter into any settlement of any litigation or other proceeding in which the Authority is jointly liable with Livermore or Pleasanton (or would be if joined in the litigation or proceeding) unless the settlement provides for a full and final release of all claims asserted against Livermore and Pleasanton. SECTION 8. FISCAL YEAR • The fiscal year of the Authority shall be the period from July 1. of each year to and AMENDED AND RESTATED AGREEMENT FOR THE LIVERMORE-PLEASANTON FIRE DEPARTMENT JOINT POWERS AUTHORITY Page 17