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<br />PDEMTAG9.DOC <br />3/29/9911:52 AM <br /> <br />(b) <br /> <br />Insurance. <br /> <br />(1) At all times, Flatirons shall keep in force for the benefit of <br />the City a commercial general liability insurance policy and excess <br />liability policies with a reputable company or companies admitted in <br />the State of California with combined total policy limits of at least <br />$3,000,000 for all claims, losses, costs (including without limitation <br />costs of defense and attorneys fees), direct or vicarious liability, <br />demands, damage, injury or loss that arise out of, or which are alleged <br />to arise out of, defective design or construction, maintenance or repairs <br />within, and use or misuse of, the Easement Area, as required by <br />subsection (c) of this Section 5. <br /> <br />(2) No more frequently than once in any three-year period, if, <br />in the reasonable opinion of the City, the amount of comprehensive <br />liability insurance coverage at that time is not adequate, Flatirons shall <br />increase the liability limit of the insurance coverage as reasonably <br />recommended by the City. <br /> <br />(3) All insurance required under this Offer and Agreement <br />must meet the following requirements: <br /> <br />(i) The City must be named an additional insured on <br />such policy, and the policy shall contain cross-liability <br />endorsements; <br /> <br />(ii) It must be issued by insurance companies <br />authorized to do business in the State of California, with a <br />financial rating of at least an A-Xm status as rated in the most <br />recent edition of Best's Insurance Reports and consented to by <br />the City; <br /> <br />(iii) As to coverage provided for the City as an <br />additional insured, it must be primary to, and not contributing <br />with any other insurance available to the City, and any other <br />insurance maintained by the City is excess insurance; <br /> <br />(iv) At Flatirons' option, it may be part of a blanket <br />policy, provided that Flatirons furnishes to the City written <br />evidence specifying the amount of the total insurance allocated <br />to its obligations under this Offer and Agreement, which shall <br />not be less than that required by subsection (b)(l) of this Section <br />5; <br /> <br />(v) It must contain an endorsement requiring 30 days <br />written notice from the insurance company to both parties <br />before cancellation or material change in the coverage, scope, or <br />amount of the policy; and <br /> <br />(vi) It must be evidenced by declaration pages or <br />endorsements obtained by Flatirons and delivered to the City <br /> <br />-4- <br />