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under this Section 10. 1 shall not extend to Claims to the extent arising from the gross negligence or willful misconduct of Indemnitees. The provisions of this Section 10. 1 shall survive the expiration or earlier termination of this Agreement. It is further agreed that City does not and shall not waive any rights against Developer that it may have by reason of this indemnity and hold harmless agreement because of the acceptance by City, or the deposit with City by Developer, of any of the insurance policies described in this Agreement. 10.2 Liability, Workers Compensation, and Property Insurance. (a) Developer (and until issuance of the final certificate of occupancy or equivalent for the Project all contractors working on behalf of Developer on the Project) shall maintain a commercial general liability policy including coverage for bodily injury, property damage, products, completed operations and contractual liability coverage with coverage limits in the greater of: (a) the amounts required by the construction and permanent lenders for the Project, or (b) Two Million Dollars ($2,000,000) each occurrence, Five Million Dollars ($5,000,000) annual aggregate, together with Three Million Dollars ($3,000,000) excess liability coverage. Such policy or policies shall be written on an occurrence basis and shall name the Indemnitees as additional insureds. (b) Developer (and until issuance of the final certificate of occupancy or equivalent for the Project all contractors working on behalf of Developer on the Project) shall maintain a comprehensive automobile liability coverage in the amount of One Million Dollars ($ 1 ,000,000), combined single limit including coverage for owned and non-owned vehicles. Automobile liability policies shall name the Indemnitees as additional insureds. (c) Developer and Developer's general partners shall furnish or cause to be furnished to City evidence satisfactory to City that Developer and Developer's general partners, and any contractor with whom Developer has contracted for the performance of work on the Property or otherwise pursuant to this Agreement, carries statutory Workers' Compensation insurance and Employer's Liability insurance in a minimum amount of One Million Dollars ($ 1 ,000,000) per accident. (d) Upon commencement of construction work and continuing until issuance of the final certificate of occupancy or equivalent for the Project, Developer and all contractors working on behalf of Developer shall maintain a policy of builder's all-risk insurance in an amount not less than the full insurable cost of the Project on a replacement cost basis naming City as loss payee. (e) Commencing upon completion of construction of the Project, Developer shall maintain property insurance covering all risks of loss (other than earthquake), including flood, for 100% of the replacement value of the Project with deductible, if any, in an amount acceptable to City, naming City as loss payee. (f) Companies writing the insurance required hereunder shall be licensed to do business in the State of California. Insurance shall be placed with insurers with a current A.M. Best's rating of no less than A: VII. The Commercial General Liability and comprehensive ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 39 of 94