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EXHIBIT 2 <br />(c) A severability of interest provision must apply for all the additional <br />insureds, ensuring that Developer's insurance shall apply separately to each insured against whom <br />a claim is made or suit is brought, except with respect to the insurer's limits of liability. <br />(d) Developer hereby grants to City a waiver of subrogation which any insurer <br />of said Developer may acquire against City of Santa Ana, its City Council, officers, officials, <br />employees, agents and volunteers" by virtue of the payment of any loss under such insurance. <br />Developer agrees to obtain any endorsement(s) that may be necessary to affect this waiver of <br />subrogation, but this provision applies regardless of whether or not City has received a waiver of <br />subrogation endorsement from any insurer(s). <br />(e) Each insurance policy required by this clause shall provide that coverage <br />shall not be canceled, suspended, voided, reduced in scope or in limits, non -renewed by the carrier, <br />or materially changed except after thirty (30) days prior written notice has been given to City and <br />ten (10) days prior written notice of policy cancellation or non -renewal due to non-payment. <br />(f) Certificate Holder on each Evidence of Insurance certificate shall be: City <br />of Santa Ana, Attention: (Name of Department Staff Responsible for Agreement), 20 Civic Center <br />Plaza M-26 (Housing Division), Santa Ana, CA 92701. The name and location of project must be <br />indicated in the Description of Operations section of each certificate. <br />(g) If any of the insurance required under this Agreement is not commercially <br />available, not applicable to the Project, or imposes an undue cost burden on the Project, the City <br />may, in its sole and absolute discretion, agree to reduce the coverage or waive the coverage; <br />provided, however, that if such coverage does become available or applicable to the Project, and <br />securing the insurance would not impose an undue burden on the Project, the City may require the <br />insurance to be procured within thirty (30) days of written notice. <br />15.4 Builder's Risk (Course of Construction) Insurance. Developer may submit <br />evidence of Builder's Risk insurance in the form of Course of Construction coverage. Such <br />coverage shall name City of Santa Ana as a loss payee as its interest may appear. If the project <br />does not involve new or major reconstruction, at the option of City, an Installation Floater may be <br />acceptable. For such projects, a Property Installation Floater shall be obtained that provides for the <br />improvement, remodel, modification, alteration, conversion or adjustment to existing buildings, <br />structures, processes, machinery and equipment. The Property Installation Floater shall provide <br />property damage coverage for any building, structure, machinery or equipment damaged, impaired, <br />broken, or destroyed during the performance of the Work, including during transit, installation, and <br />testing at Project site. <br />15.5 Claims Made Policies. If any coverage required is written on a claims -made <br />coverage form: <br />(a) The retroactive date must be shown, and this date must be before the <br />execution date of the contract. <br />22 <br />5 53 94.0010 1 \42414134.1 <br />