Agmt10 R.C. Peninsula Park, LLC (2)

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C. Liability Insurance. Prior to commencing work on any Facilities, the Developer or the selected contractor performing any work on any Facility shall provide certificates of insurance to the City showing they have secured general liability insurance for bodily injury, personal injury, and property damage coverage that shall be in a combined single limit of not less than One Million Dollars ($1,000,000) for each occurrence and Two Million Dollars ($2,000,000) in the annual aggregate and automobile liability insurance covering both bodily injury and property damage in a combined single limit of not less than One Million Dollars ($1,000,000) for each occurrence and Two Million Dollars ($2,000,000) in the annual aggregate. The general liability insurance coverage shall include each of the following types of insurance: (1) Comprehensive Form; (2) Premises - Operations; (3) Explosion and Collapse Hazard; (4) Underground Hazard; (5) Products /Completed Operations Hazard; (6) Contractual Insurance; (7) Broad Form Property Damage including completed operations; (8) Independent Contractors; (9) Personal Injury. The automobile liability insurance shall include each of the following: (1) Comprehensive Form including loading and unloading; (2) Owned; (3) Hired; (4) Non - Owned. All liability insurance shall include as additional insured's the City and its officers, employees, volunteers and agents. The insurance afforded to these additional insured's shall be primary insurance. If the additional insured's have other insurance which might be applicable to any loss, the amount of the insurance provided shall not be reduced or pro -rated by the existence of such other insurance. Included in this insurance shall be a "Cross Liability" or "Severability of Interest" clause. For an insurance policy to meet the requirements of this subdivision D, it must include the following endorsements: Additional insured endorsement (naming the City, its officers, agents, volunteers and employees as additional insured's), Primary and non- contributory, Severalability of interests or cross - liability. D. Builders' All Risk Insurance. Prior to commencing any work on any Facilities, the Developer or the contractor selected by the Developer shall provide the City with certificates of insurance showing that they have obtained for the full period of the contact Builders' Risk "All Risk" completed value insurance coverage (including any damage attributable directly or indirectly to surface water, run -off, rain fall or flood but excluding earthquake and tidal wave) on the entire project which is the subject of the contract and including completed work and work in progress. Such insurance shall have a deductible clause not to exceed Twenty Five Thousand Dollars ($25,000). E. Errors and Omissions Insurance. No later than the later of (i) commencement of any work on any of the Facilities by that design professional or (ii) prior to the issuance of the initial construction permit, Developer shall provide the City with certificates of insurance showing that each design professional being retained has secured errors and omissions coverage of not less than One Million Dollars ($1,000,000) per occurrence. In order for a policy to meet the requirements of this subdivision E, the insured's must maintain continuous coverage (if necessary purchasing coverage for an extended reporting period, i.e. "tail coverage ") for a period of not less than five years after the date the date this agreement is executed by the City. All contractors and subcontractors employed on the work with respect to the Facilities shall meet the insurance requirements set forth in this Section 7.01 for the Developer, subject to the City's reasonable discretion. The Developer shall furnish certificates of insurance and endorsements for each contractors or subcontractor at least five days prior to the contractors or -21-