Ord. 2547 - Laserfiche WebLink

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(c) Workers’ Compensation Insurance. Each Party shall maintain a workers’ compensation plan covering all of its employees as required by Section 3700 of the Labor Code, either through workers’ compensation insurance issued by an insurance company or through a plan of self-insurance certified by the State Director of Industrial Relations. (d) Employer’s Liability Coverage. Each Party shall maintain employer’s liability coverage for each employee who is subject to this Lease. That policy shall provide employer’s liability coverage with minimum liability coverage of One Million Dollars ($1,000,000) per occurrence. (e) Property Insurance. Owner shall maintain “all risk” property insurance of not less than One Million ($1,000,000) on the Teen Center, including coverage for at least ninety percent (90%) of its full insured value against loss or damage to any improvements, equipment, machinery, fixtures included therein from damages caused by fire, theft, natural disasters, vandalism, malicious mischief and special extended perils. (f) Self-Insurance. If either Party elects to be self-insured, in lieu of providing proof of insurance, that Party shall provide proof of self-insurance satisfactory to the other Party and meeting the requirements imposed herein, which can include a consent to self-insure issued by the State Director of Industrial Relations. Either Party providing proof of self-insurance warrants that the self-insurance provides substantially the same protection as the insurance required herein. Each Party further agrees to notify the other Party in the event any change in self- insurance occurs that would alter the obligations undertaken in this Lease within thirty (30) days of the change. (g) Other Requirements. Without limiting the Parties’ duties of indemnification, the Parties each shall comply with the following insurance coverage requirements: (i) Each policy shall be issued by a company authorized by law to transact business in the State of California. (ii) Each policy shall provide that the Parties shall be given notice in writing at least thirty (30) days in advance of any change, cancellation, or nonrenewal thereof. (iii) Comprehensive motor vehicle, commercial general liability and property insurance policies shall each provide an endorsement naming the other Party, and its officers, agents, representatives and employees as additional insured, with primary and non- contributory coverage language included in the endorsement. (iv) Each Party shall provide an endorsement that the insurer waives the right of subrogation against the other Party, and its respective elected officials, officers, employees, agents, representatives, consultants, trustees, and volunteers. (v) The required coverage and policy limits shall be maintained in effect throughout the Term and may be adjusted by each Party pursuant to legally required or commercially reasonable practice for property with the same or similar uses. ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) - EXHIBIT A REV: 04-23-25 VR Page 325 of 336