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property to be installed, covering all risks of physical loss or damage to such <br />equipment. The coverage under such policy shall have limits of liability adequate <br />to protect the value of the equipment and property to be installed. If desired, BFC <br />may choose to self-insure this exposure, but in no instance shall the City be <br />responsible for such loss or damage, unless caused by its sole negligence. <br /> <br /> All insurance specified above shall remain in fome until all work to be <br />performed is satisfactorily completed, all of BFC's personnel and equipment have <br />been removed from the Public Right-of-way, and the work has been formally <br />accepted. The failure to procure or maintain required insurance and/or an <br />adequately funded self-insurance program will constitute a material breach of this <br />Agreement. <br /> <br /> If any insurance specified above shall be provided on a claims-made basis, <br />then in addition to coverage requirements above, such policy(les) shall provide <br />that: <br /> <br /> · Policy retroactive date coincides with or precedes BFC's start of work <br /> (including subsequent policies purchased as renewals or replacements). <br /> <br /> · BFC will make every effort to maintain similar insurance during the term <br /> of the Agreement following project completion, including the requirement <br /> of adding all additional insureds. <br /> <br /> · If insurance is terminated for any reason, BFC agrees to purchase an <br /> extended reporting provision of at least two (2) years to report claims <br /> <br />Agmt-052 <br />G~ha~d~shared~Redwood~C ouncil <br /> <br />O~/0097R 26 <br /> <br /> <br />