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12. Insurance. Developer will obtain and maintain in full force and effect during
<br />the term of this Agreement the following insurance policies:
<br />12.1 General Liability. Developer shall maintain commercial general
<br />liability insurance with coverage at least as broad as Insurance Services Office
<br />form CG 00 01, in an amount not less than Two Million Dollars ($2,000,000) per
<br />occurrence, Four Million Dollars ($4,000,000) general aggregate, for bodily injury,
<br />personal injury, and property damage, including without limitation, blanket
<br />contractual liability and coverage for explosion, collapse and underground property
<br />damage hazards. Developer's general liability policies shall be primary and non-
<br />contributory, and be endorsed using Insurance Services Office form CG 20 10 to
<br />provide that City and its officers, officials, employees, and agents shall be
<br />additional insureds under such policies. For construction contracts, an
<br />endorsement providing completed operations to the additional insured, ISO form
<br />CG 20 37, is also required.
<br />12.2 Workers' Compensation. Developer shall maintain Workers'
<br />Compensation Insurance (Statutory Limits) and Employer's Liability Insurance with
<br />limits of at least One Million Dollars ($1,000,000). Developer shall submit to City,
<br />along with the certificate of insurance, a Waiver of Subrogation endorsement in
<br />favor of City, its officers, agents, employees, and volunteers.
<br />12.3 Auto Liability. Developer shall provide auto liability coverage for
<br />owned, non -owned, and hired autos using ISO Business Auto Coverage form CA
<br />00 01, or the exact equivalent, with a limit of no less than One Million Dollars
<br />($1,000,000) per accident. If Developer owns no vehicles, this requirement may
<br />be met through a non -owned auto endorsement to the CGL policy.
<br />12.4 Any deductibles or self-insured retentions must be declared to and
<br />approved by City. At the option of City either Developer's insurer will reduce or
<br />eliminate the deductibles or self-insured retentions with respect to City, it's Council,
<br />commissions, boards, committees, officers, employees and agents or Developer
<br />will procure a bond guaranteeing payment of losses and related investigations,
<br />claim administration and defense expenses.
<br />12.5 Concurrently with the execution of this Agreement, Developer will
<br />furnish City with certificates and copies of information or declaration pages of the
<br />insurance required hereunder and, with respect to evidence of commercial general
<br />liability and automobile liability insurance coverage, original endorsements:
<br />REV: 05-01-25 VR
<br />(a). Precluding cancellation or reduction in coverage before the
<br />expiration of thirty (30) days after City will have received written notification
<br />of cancellation or reduction in coverage by first class mail, postage prepaid;
<br />(b). Providing that Developer's insurance will apply separately to each
<br />insured against whom claim is made or suit is brought, except with respect
<br />ATTY/AGR.2025.095/879 Vista Drive Partners, LLC (879 Vista Dr (Lot 2) (Page 5 of 16)
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