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Agmt21 Home Program Affordable Housing Regulatory
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Agmt21 Home Program Affordable Housing Regulatory
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Last modified
11/19/2021 12:38:45 PM
Creation date
11/19/2021 12:35:53 PM
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Agreement
Contractor Name
Home Program Affordable Housing Regulatory
PROJECT NAME
612 Jefferson Ave.
Date
7/28/2021
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(i) Additional Insured Endorsements. The additional insured endorsements for <br />the general liability coverage shall use Insurance Services Office (ISO) Form No. CG 20 09 11 85 <br />or CG 20 10 1185, or equivalent, including (if used together) CG 2010 10 01 and CG 2037 10 01; <br />but shall not use the following forms: CG 20 10 10 93 or 03 94. Upon request by City's Risk <br />Manager, Developer shall provide or arrange for the insurer to provide certified copies of the <br />actual insurance policies or relevant portions thereof within thirty (30) days of the request. <br />0) Reinstatement. If any insurance policy or coverage required hereunder is <br />canceled or reduced, Developer shall, within five (5) days after receipt of notice of such <br />cancellation or reduction in coverage, but in no event later than the effective date of cancellation <br />or reduction, file with City a certificate showing that the required insurance has been reinstated or <br />provided through another insurance company or companies. Upon failure to so file such <br />certificate, City may, without further notice and at its option, procure such insurance coverage at <br />Developer's expense, and Developer shall promptly reimburse City for such expense upon receipt <br />of billing from City. Developer shall require all persons and entities that are required to provide <br />professional liability/E&O coverage pursuant to paragraph (e) above to use best efforts to reinstate <br />the required coverage limits in the event coverage under such policies is reduced. <br />(k) Primary Coverae: Waiver of Subrogation-, Annual AggegLate Limits. <br />All coverage shall be primary insurance and shall not be contributing with any <br />insurance, or self-insurance maintained by City, and the policies shall so provide. Each insurance <br />policy shall contain a waiver of subrogation for the benefit of the City. With the exception of <br />E&O policies, if any of the required insurance is provided under a form of coverage that includes <br />an annual aggregate limit or provides that claims investigation or legal defense costs are included <br />in such annual aggregate limit, such annual aggregate limit shall be three times the occurrence <br />limits specified above. <br />(1) Deductibles/Retentions. Any deductibles or self-insured retentions shall be <br />declared to, and shall be subject to approval by the City's Risk Manager. At the option of and <br />upon request by the City's Risk Manager if the Risk Manager determines that such deductibles or <br />retentions are unreasonably high, either the insurer shall reduce or eliminate such deductibles or <br />self-insurance retentions as respects the Indemnitees or Developer shall procure a bond <br />guaranteeing payment of losses and related investigations, claims administration and defense <br />expenses. <br />(m) Adjustments. The limits of the liability coverage and, if necessary, the <br />terms and conditions of insurance, shall be reasonably adjusted from time to time (not less than <br />every five (5) years after the Effective Date nor more than once in every three (3) year period) to <br />address changes in circumstances, including, but not limited to, changes in inflation and the <br />litigation climate in California, provided that such adjustments are consistent with generally <br />prevailing requirements for residential multi -family developments similar to the Project and <br />located in the Santa Mateo County area. Within thirty (30) days following City's delivery of <br />M. <br />SF #4821-4436-6284 v2 <br />1619\01\3064651.1 <br />
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