RecDoc 2020-036922 Subdivision Agmt 1180 Main Street

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of Construction insurance. Policy shall be provided for replacement value on an "all-risk" basis. There shall be no coinsurance penalty provision in any such policy. Policy must include: (1) coverage for removal of debris, and insuring the buildings, structures, machinery, equipment, materials, facilities, fixtures, and all other properties constituting a part of the project; (2) coverage with limits sufficient to insure the full replacement value of any property or equipment stored either on or off the project site. Such insurance shall be on a form acceptable to City to ensure adequacy of terms and limits. Developer shall not be required to maintain property insurance for any portion of the Project following transfer of control thereof to City. 18.5 Contractors Pollution Liability. Pollution Coverage shall be provided on a Contractors Pollution Liability form or other form acceptable to City providing coverage for liability arising out of sudden, accidental and gradual pollution and remediation. The policy limit shall be no less than One Million Dollars ($1,000,000) per claim and in the aggregate. All activities contemplated in this agreement shall be specifically scheduled on the policy as "covered operations." The policy shall provide coverage for the hauling of waste from the project site to the final disposal location, including non -owned disposal sites. 18.6 Any deductibles or self-insured retentions must be declared to, and approved by City. At the option of City either Developer'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 Developer will procure a bond guaranteeing payment of losses and related investigations, claim administration and defense expenses. 18.7 Concurrently with the execution of this Agreement, Developer 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: REV: 02-18-2020 PR (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 Developer'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 Developer's insurance will be primary insurance relating to Contractor's work hereunder with respect to ATTY/AGR.2020.025/Premia 1180 Main Owner, LLC (Page 10 of 22)