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O6/24/2013 <br /> hereunder. Lessee and its agents, employees and officials shall be named as additional <br /> insureds on said policy and City shall provide Lessee with a certificate of said insurance <br /> coverage. <br /> 14.2 Property Insurance. City shall procure, pay for and maintain in effect <br /> policies of property insurance covering the Premises and all areas appurtenant thereto in <br /> an amount not less than 100% of their actual replacement cost of the Premises, providing <br /> protection against all risks of physical loss or damage. Lessee and its agents, employees <br /> and officials shall be named as additional insureds on said policy and City shall provide <br /> Lessee with a certificate of said insurance coverage. <br /> 143 Insurance Company. Notwithstanding the references to commercial <br /> general liability insurance in this Section 14, the parties acknowledge and agree that each <br /> is a public entity with general liability coverage through a self-insurance joint powers <br /> authority (JPA). The parties agree that the coverages through their respective JPA will <br /> satisfy the insurance requirements in this Lease. Each party shall deliver to the other <br /> copies of policies of liability insurance required or certificates evidencing the existence <br /> and amounts of such insurance with loss payable clauses satisfactory to the other. No <br /> such policy shall be cancelable or subject to reduction of coverage or other modification <br /> except after ten (10) days prior written notice to the other party. Lessee and City shall <br /> each, within ten (10) days prior to the expiration of such policies, furnish to the other <br /> with renewals or "binders" thereof, or the other party may order such insurance and <br /> charge the cost thereof to the defaulting party, which amount shall be payable by the <br /> defaulting party upon demand. Neither Lessee nor City shall do or permit to be done <br /> anything which shall invalidate the insurance policies referred to herein. <br /> RES0.15272 <br /> MUFF#304 <br />