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<br />BAAQMD FY2007/2008 BFP Funding Agreement <br /> <br />ATTACHMENT D <br />INSURANCE REQUIREMENTS <br /> <br />1. Verification of Coverage: Project Sponsor shall provide the Air District certificates and/or other <br />evidence of the insurance coverage required below. The Air District reserves the right to require <br />Project Sponsor to provide complete, certified copies of any insurance offered in compliance with <br />these specifications. Certificates, policies and other evidence provided shall specify that the Air <br />District shall receive 30 days advanced notice of cancellation from the insurers. <br /> <br />2. Minimum Scope of Insurance: Throughout the Term as defined in Section IV of the Agreement <br />of which this Attachment is a part, Project Sponsor shall obtain and maintain in full force and <br />effect the insurance as set forth below: <br /> <br />A. Liability Insurance with a limit of not less than $1,000,000 per occurrence. Such <br />insurance shall be of the type usual and customary to the business of the Project Sponsor, <br />and to the operation of the vehicles, vessels, engines or equipment operated by the Project <br />Sponsor. <br /> <br />B. Property Insurance in an amount of not less than the insurable value of Project Sponsor's <br />equipment or other property funded under the Agreement of which this Attachment is a <br />part, and covering all risks of loss, damage or destruction of such equipment or property. <br /> <br />3. Acceptability of Insurers: Insurance is to be placed with insurers with a current A.M. Best's <br />rating of no less than A: VII. The Air District may, at its sole discretion, waive or alter this <br />requirement or accept self-insurance in lieu of any required policy of insurance. <br /> <br />BFP Project 07BFP12 <br /> <br />Page 15 <br />