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Insurance Category Minimum Limits <br /> Workers' Compensation Statutory minimum. <br /> Employer's Liability $ 1,000,000.00 per accident for bodily injury or disease. <br /> Commercial General Liability $1 ,000,000.00 per occurrence, $2,000,000.00 aggregate for <br /> bodily injury, personal injury and property damage. <br /> Automobile Liability $2,000,000.00 per occurrence for bodily injury and property <br /> damage (coverage required to the extent applicable to <br /> Contractor's vehicle usage in performing work hereunder). <br /> 18 2 Any deductibles or self-insured retentions must be declared to, and approved by <br /> City. At the option of City either Developer's insurer shall reduce or eliminate the deductibles or <br /> self-insured retentions with respect to City, it's Council, commissions, boards, committees, <br /> officers, employees and agents or Developer shall procure a bond guaranteeing payment of losses <br /> and related investigations, claim administration and defense expenses. <br /> 18 3 Concurrently with the execution of this Agreement, Developer shall furnish City <br /> with certificates and copies of information or declaration pages of the insurance required <br /> hereunder and, with respect to evidence of commercial general liability and automobile liability <br /> insurance coverage, original endorsements: <br /> (a) Precluding cancellation or reduction in coverage before the <br /> expiration of thirty (30) days after City shall have received written notification of <br /> cancellation or reduction in coverage by first class mail, postage prepaid; <br /> (b) Providing that Developer's insurance shall apply separately to <br /> each insured against whom claim is made or suit is brought, except with respect <br /> to the limits of the insurer's liability (cross liability endorsements); <br /> (c) Naming City, its Council, commissions, boards, committees, <br /> officers, employees and agents as additional insureds; and <br /> (d) Providing that Developer's insurance shall be primary insurance <br /> relating to Contractor's work hereunder with respect to City, its Council, <br /> commissions, boards, committees, officers, employees and Agents, and further <br /> providing that any insurance or self-insurance maintained by City for itself, its <br /> Council, commissions, boards, committees, officers, employees and agents shall <br /> not be excess of Contractor's insurance and shall not be contributory with it. <br /> Such insurance shall also specifically insure any contractual liability assumed by <br /> Developer under the terms of this Agreement, including, but not limited to, the <br /> provisions of subsection (a) above. <br /> 18 .4 In the event that Developer's insurance is cancelled, Developer shall provide <br /> replacement coverage or all work must cease as of the cancellation date until replacement <br /> insurance coverage is provided. <br /> REV: 04-09-15 VR <br /> Page 8 of19 <br /> ATTY/AGR.2015.064/1092 2nd Ave - Improvement Agreement <br />