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ATTY/RESO.0053/CC RESO AMENDING AFFORDABLE HOUSING PRESERVATION PROGRAM – EXHIBIT A <br />REV: 08-19-24 LF <br />Page 15 of 19 <br />the Indemnitees as additional insureds. Builder’s Risk and property insurance shall name <br />City as loss payee as its interests may appear. <br /> <br />(g) Prior to commencement of construction, Owner shall furnish City with <br />certificates of insurance in form acceptable to City evidencing the required insurance <br />coverage and duly executed endorsements evidencing such additional insured status. <br />The certificates shall contain a statement of obligation on the part of the carrier to notify <br />City of any material adverse change, cancellation, termination or non-renewal of the <br />coverage at least thirty (30) days in advance of the effective date of any such material <br />adverse change, cancellation, termination or non-renewal. <br /> <br />(h) The additional insured endorsements for the general liability coverage <br />shall use Insurance Services Office (ISO) Form No. CG 20 09 11 85 or CG 20 10 11 <br />85, or equivalent, including (if used together) CG 2010 10 01 and CG 2037 10 01; but <br />shall not use the following forms: CG 20 10 10 93 or 03 94. Upon request by City’s Risk <br />Manager, Owner shall provide or arrange for the insurer to provide within thirty (30) <br />days of the request, certified copies of the actual insurance policies or relevant portions <br />thereof. <br /> <br />(i) If any insurance policy or coverage required hereunder is canceled or <br />reduced, Owner shall, within fifteen (15) days after receipt of notice of such cancellation <br />or reduction in coverage, but in no event later than the effective date of cancellation or <br />reduction, file with City a certificate showing that the required insurance has been <br />reinstated or provided through another insurance company or companies. <br /> <br />(j) Any deductibles or self-insured retentions shall be declared to, and be <br />subject to approval by, City’s Risk Manager. At the option of and upon request by City’s <br />Risk Manager if the Risk Manager determines that such deductibles or retentions are <br />unreasonably high, either the insurer shall reduce or eliminate such deductibles or self- <br />insurance retentions as respects the Indemnitees or Owner shall procure a bond <br />guaranteeing payment of losses and related investigations, claims administration and <br />defense expenses. <br /> <br />The limits of the liability coverage and, if necessary, the terms and conditions of <br />insurance, shall be reasonably adjusted from time to time (not less than every five (5) <br />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 the <br />purchasing power of the dollar and the litigation climate in California. Within thirty (30) <br />days following City’s delivery of written notice of any such adjustments, Owner shall <br />provide City with amended or new insurance certificates and endorsements evidencing <br />compliance with such adjustments. <br /> <br /> <br /> <br />6.M. - Page 20 of 110 <br />476