RecDoc2025-000641 Subdivision Improvement Agreement 557 East Bayshore Road

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16.3 Auto_ Liability. Developer shall provide auto liability coverage for owned, non -owned, and hired autos using ISO Business Auto Coverage form CA 00 01, or the exact equivalent, with a limit of no less than One Million Dollars ($1,000,000) per accident. If Developer owns no vehicles, this requirement may be met through a non -owned auto endorsement to the CGL policy. 16.4 Builder's Risk Insurance. Upon commencement of construction and with approval of City, Developer shall obtain and maintain Builder's Risk/Course of Construction insurance. Policy shall be provided for replacement value on an "all- risk" basis. The City shall be named as Loss Payee on the policy and 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. 16.5 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. 16.6 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. 16.7 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: 10-02-24 VR (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; ATTY/AGR 2024 178/Redwood Crossing LLC (557 E Bayshore IA) (Page 10 of 24)