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BE PAID THE PREVAILING PER DIEM WAGE RATE FOR THEIR LABOR <br />CLASSIFICATION, AS DETERMINED BY THE STATE, PURSUANT TO LABOR CODE <br />SECTIONS 1720, ET SEQ. <br />4.8.2 THE DEVELOPER, ON BEHALF OF ITSELF, ITS SUCCESSORS, <br />AND ASSIGNS, WAIVES AND RELEASES THE CITY FROM ANY RIGHT OF ACTION <br />THAT MAY BE AVAILABLE TO ANY OF THEM PURSUANT TO LABOR CODE <br />SECTION 1781. THE DEVELOPER ACKNOWLEDGES THE PROTECTIONS OF CIVIL <br />CODE SECTION 1542 RELATIVE TO THE WAIVER AND RELEASE CONTAINED IN <br />THIS SECTION 4.8, WHICH READS AS FOLLOWS: <br />A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS <br />WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT <br />TO EXIST IN HIS OR HER FAVOR AT THE TIME OF <br />EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM <br />OR HER MUST HAVE MATERIALLY AFFECTED HIS OR <br />HER SETTLEMENT WITH THE DEBTOR. <br />4.8.3 BY INITIALING BELOW, THE DEVELOPER KNOWINGLY AND <br />VOLUNTARILY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN <br />CONNECTION WITH THE WAIVERS AND RELEASES OF THIS SECTION 4: <br />Initials of Authorized <br />Developer Representative <br />4.8.4 ADDITIONALLY, THE DEVELOPER SHALL INDEMNIFY, <br />DEFEND AND HOLD HARMLESS THE CITY AGAINST ANY CLAIMS PURSUANT TO <br />LABOR CODE SECTION 1781 ARISING FROM THIS AGREEMENT OR THE <br />CONSTRUCTION OR INSTALLATION OF ALL OR ANY PORTION OF THE PROJECT. <br />4.9 Insurance. The Developer, to protect the City Parties against any and all claims <br />and liability for death, injury, loss and damage resulting from the Developer's actions in <br />connection with this Agreement, the Property and the Project, shall, at the Developer's sole cost <br />and expense, throughout the term of the Lease of the Property, maintain the following insurance <br />(or its then reasonably available equivalent), as applicable: (a) Liability Insurance; (b) Property <br />Insurance; (c) Builder's Risk Insurance; and (d) Worker's Compensation Insurance. <br />Additionally, the Developer, to protect the City Parties, shall cause its contractors and <br />subcontractors, at their sole cost and expense, until issuance of a Certificate of Completion for <br />the Project, to maintain Contractor's Insurance. <br />4.9.1 Nature of Insurance. All Liability Insurance, Property hnsurance, <br />Automobile Liability Insurance and Contractor's hnsurance policies this Agreement requires <br />shall be issued by carriers that: (a) are listed in the then current `Best's Key Rating Guide <br />Property/Casualty United States & Canada" publication (or its equivalent, if such publication <br />ceases to be published) with a minimum financial strength rating of "A" and a minimum <br />financial size category of "VIP'; and (b) are admitted to do business in the State of California <br />18 <br />75A-23 <br />