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be $100,000. The policies providing this insurance <br /> shall name the Owner, and their subcontractors as <br /> additional insureds as their respective interests <br /> shall appear. The making of progress payments to <br /> the Contractor shall not be construed as creating as <br /> insurable interest by or for the Owner or being <br /> construed as relieving the Contractor or his <br /> subcontractors of responsibility for loss or direct <br /> physical loss, damage or destruction occurring prior <br /> to final acceptance. <br /> <br /> In accordance with the provisions of California <br /> Government Code, Section 4150, builders risk <br /> insurance is not required for coverage of losses in <br /> excess of five percent of the contract price for <br /> damages resulting from earthquakes in excess of <br /> magnitude of 3.5 on the Richter scale or from tidal <br /> waves. Coverage in the amount of five percent of <br /> the contract price for such losses shall be provided <br /> by the Contractor. <br /> <br /> d. Certificate of Insurance <br /> <br /> Contractor shall complete and file with the City's <br /> Department of Finance, within fifteen (15) days of <br /> the execution of this Agreement, and prior to <br /> engaging in any operation or activity set forth in <br /> this Agreement, certificates of insurance which <br /> shall provide that no cancellation, major change in <br /> coverage, or expiration by the insurance company <br /> will be made during the term of this Agreement, <br /> without thirty (30) days written notice to City <br /> prior to the effective date of such cancellation, or <br /> change in coverage. <br /> <br /> 14. Notices. All notices herein required shall be in <br />writing and shall be sent by certified or registered mail, <br />postage prepaid, addressed as follows: <br /> <br /> TO CITY: City Manager <br /> City of Pleasanton <br /> 200 Old Bernal Avenue <br /> Pleasanton, CA 94566 <br /> <br /> TO CONTRACTOR: <br /> <br /> <br />