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I • . <br /> I ' <br /> 3. EVIDENCE OF INSURANCE <br /> A. All Coverages except Railroad Protective - Prior to commencing work or entering onto the <br /> Property, Licensee shall provide the Risk Manager of the JPB with a certificate evidencing <br /> coverage, and upon request, a certified duplicate original of the policy. The certificate shall also <br /> show that the Licensees' policy(-ies) will not be cancelled or coverage altered without 30 days <br /> prior written notice to the JPB's Risk Manager. <br /> B. Railroad Protective - Prior to commencing work or entering onto the Property, Licensee shall <br /> confirm that it has paid the premium for said insurance. If the Railroad Protective coverage has <br /> not been purchased under the JPB's program, the original policy, or insurance binder with the <br /> policy to foliow, must be delivered to the JPB's Risk Manager prior to work beginning under this <br /> contract. <br /> 4. GENERAL PROVISIONS <br /> A. Notice of Cancellation. <br /> The policies shall provide that the Licensees' policies will not be cancelled or have limits <br /> reduced or coverage altered without 30 days prior written notice to the JPB's Risk Manager. <br /> B. Acceptable Insurers. <br /> All policies will be issued by insurers acceptable to the JPB (generally with a BesYs Rating <br /> of A-X or better). <br /> C. Self-insurance. <br /> Upon evidence of financial capacity satisfactory to the JPB and Licensee's agreement to <br /> waive subrogation against the JPB respecting any and all claims that may arise, Licensee's <br /> obligation hereunder may be satisfied in whole or in part by adequately funded self-insurance. <br /> D. Failure to Maintain Insurance. <br /> All insurance specified above shall remain in force until all work to be performed is <br /> satisfactorily completed, all of Licensee's personnel and equipment have been removed from the <br /> JPB property, and the work has been formally accepted. The failure to procure or maintain <br /> required insurance and/or an adequately funded self-insurance program will constitute a material <br /> breach of this Agreement. <br /> E. Claims Made Coverage <br /> If any insurance specified above shall be provided on a claim-made basis, then in addition <br /> to coverage requirements above, such policy shall provide that: <br /> (1) Policy retroactive date coincides with or precedes the Licensee's start of work <br /> (including subsequent policies purchased as renewals or replacements). <br /> (2) Licensee shall make every effort to maintain similar insurance for at least three <br /> (3) years following project completion, including the requirement of adding all <br /> named insureds. <br /> (3) If insurance is terminated for any reason, Licensee agrees to purchase an <br /> extended reporting provision of at least three (3) years to report claims arising <br /> from work performed in connection with this Agreement. <br /> (4) Policy allows for reporting of circumstances or incidents that might give rise to <br /> future claims. <br /> F. Deductibles and Retentions <br /> Licensee shall be responsible for payment of any deductible or retention on Licensee's <br /> policies without right of contribution from the JPB. <br /> 1306159.1 <br />