RecDoc 2021-075315 536 Whipple CONF

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11.4 Any deductibles or self-insured retentions must be declared to, and approved by City. At the option of City either Property Owner's insurer will reduce or eliminate the deductibles or self-insured retentions with respect to City, it's Council, commissions, boards, committees, officers, employees and agents or Property Owner will procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. 11.5 Concurrently with the execution of this Agreement, Property Owner will furnish City with certificates and copies of information or declaration pages of the insurance required hereunder and, with respect to evidence of commercial general liability and automobile liability insurance coverage, original endorsements: (a) Precluding cancellation or reduction in coverage before the expiration of thirty (30) days after City will have received written notification of cancellation or reduction in coverage by first class mail, postage prepaid; (b) Providing that Property Owner's insurance will apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability (cross liability endorsements); (c) Naming City, its Council, commissions, boards, committees, officers, employees and agents as additional insureds; and (d) Providing that Property Owner's insurance will be primary insurance relating to Contractor's work hereunder with respect to City, its Council, commissions, boards, committees, officers, employees and Agents, and further providing that any insurance or self-insurance maintained by City for itself, its Council, commissions, boards, committees, officers, employees and agents will not be excess of Contractor's insurance and will not be contributory with it. Such insurance will also specifically insure any contractual liability assumed by Property Owner under the terms of this Agreement, including, but not limited to, the provisions of subsection (a) above. 11.6 In the event that Property Owner's insurance is cancelled, Property Owner will provide replacement coverage or all work must cease as of the cancellation date until replacement insurance coverage is provided. 12. No Additional Liability,. It is the intent of this Agreement to insure the proper maintenance of the stormwater treatment measure(s) by Property Owner; provided, however, that this Agreement will not be deemed to create or effect any additional liability not otherwise provided by law of any party for damage alleged to result from or caused by stormwater runoff. 13. Performance Financial Assurance. City may request Property Owner to provide a performance bond, security, or other appropriate financial assurance providing for the maintenance of the stormwater treatment measure(s) pursuant to City Stormwater Regulations. REV: 01-22-20 PR ATTY/AGR.2020.009/Bucky Bear, LLC (Page 5 of 21)