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<br />Insurance Commissioner of the State Department ofInsurance to <br />transact business of insurance in the State of California with a <br />Best's rating of not less than A:VII. <br /> <br />e. All insurance companies affording coverage shall <br />provide thirty-day (30) written notice to the City of Pleasant on <br />should the policy be canceled before the expiration date. For the <br />purposes of this notice requirement, any material change in the <br />policy prior to the expiration shall be considered a cancellation. <br /> <br />f. Subdivider shall provide evidence of compliance <br />with the insurance requirements listed above by providing a <br />certificate of insuran~e, in a form satisfactory to the City Attomey, <br />concurrently with the submittal of this Agreement. <br /> <br />g. Subdivider shall provide a substitute certificate of <br />insurance no later than thirty (30) days prior to the policy <br />expiration date. Failure by the Subdivider to provide such a <br />substitution and extend the policy expiration date shall be <br />considered a default by Subdivider and may subject the Subdivider <br />to a Stop Work Notice until the Subdivider has cured the default. <br /> <br />h. Subdivider shall provide insurance that is primary <br />as respects the City, its officers, employees and volunteers. <br /> <br />i. Maintenance of insurance by the Subdivider as <br />specified in this Agreement shall in no way be interpreted as <br />relieving the Subdivider of any responsibility whatever and the <br />Subdivider may carry, at its own expense, such additional <br />insurance as it deems necessary. <br /> <br />j. The insurer shall agree to waive all rights of <br />subrogation against the City, its officers, officials, employees, and <br />volunteers for losses arising from work performed by the <br />Subdivider. <br /> <br />k. The insurer shall provide the amount of self-insured <br />retention and City shall have the right to deny insurance coverage <br />if it deems the self-insured retention exceeds reasonable deduction. <br /> <br />13. Streets. Use of any or all streets and improvements provided by Paragraph <br />3 shall, at all times prior to the final acceptance of said tract by the City, be at the sole <br />and exclusive risk of Subdivider. Issuance of any Occupancy Permits by City for a <br />dwelling within the tract, at any state of development, shall not be construed to be an <br />acceptance of improvements, or a final acceptance of said tract. <br /> <br />SUBDIVISION AGREEMENT <br />TRACT NO. 7431, "Busch / Ponderosa Property" <br />Page 6 of8 <br />