Item 23 - Moving and Storage Services for the Main Library and Newhope Library

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(3) Notice of Cancellation: Each insurance policy required above shall provide that coverage shall not be canceled, except with notice to the City. (4) Waiver of S uhrogation: Contractor hereby grants to City a waiver of mi0 ght to subrogation that any insurer of said Contractor may acquire against the City by virtue of the payment of any loss under such insurance. Contractor agrees to obtain any endorsement that may be necessary -to affect this waiver of subrogation, but this provision applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer. (5) Self -Insured Retentions: Self -insured retentions must be declared to and approved by the City, The City may require the Contractor to purchase coverage with a lover retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses ithin the retention. The policy language shall provide, or be endorsed to provide, that the self - insured retention may be satisfied by either the named insured or City. (6) Acceptability of Insurers: Insurance is to be placed with insurers authorized to conduct business 1n the state with a current A.M. st's rating of no less than A: VII, unless otherwise acceptable to the City. (7) Claims Made Policies,.- If any of the required policies provide claims -Meade coverage: i. The retroactive date must be shown, and inu t be before the date of the contract or beginning of contract work. ii. Insurance must be maintained and evidence of insurance Lust be provided for at least five years after completion, of contract work. 111, If coverage is canceled or non -renewed, and. not replaced with another claims -made policy form with a retroactive date prior to the contract effective date, the Contractor must purchase "extending reporting" coverage for a minimum of five years after completion of work. (8) Verification of Coverage: Contractor shall furnish the City with original Certificates Insurance ,includin2 all required amendatory endorsementsr covies of the licable -policy language efectin coverage requiredbv this clause) and a copy of the Declarations and Endorsement Page oft e CGL policy listing alloohey endorsements to City before work begins. However, failure to obtain the required documents prior to the work beginning shall not waive the Contractor's obligation to provide then. The City reserves the right to require complete, certified copies of all required insurance polreies,including endorsements required by these specifications, at any time. Page 4 0f