ILLUMINATION FOUNDATION (40) - Laserfiche WebLink

Home Browse Search

Center Plaza M-26 (Housing Division), Santa Ana, CA 92701. The name and location of project must be indicated in the Description of Operations section of each certificate. (g) If any of the insurance required under this Agreement is not commercially available, not applicable to the Project, or imposes an undue cost burden on the Project, the City may, in its sole and absolute discretion, agree to reduce the coverage or waive the coverage; provided, however, that if such coverage does become available or applicable to the Project, and securing the insurance would not impose an undue burden on the Project, the City may require the insurance to be procured within thirty (30) days of written notice. 14.4 Builder's Risk (Course of Construction) Insurance. Grantee may submit evidence of Builder's Risk insurance in the form of Course of Construction coverage. Such coverage shall name City of Santa Ana as a loss payee as its interest may appear. If the project does not involve new or major reconstruction, at the option of City, an Installation Floater may be acceptable. For such projects, a Property Installation Floater shall be obtained that provides for the improvement, remodel, modification, alteration, conversion or adjustment to existing buildings, structures, processes, machinery and equipment. The Property Installation Floater shall provide property damage coverage for any building, structure, machinery or equipment damaged, impaired, broken, or destroyed during the performance of the Work, including during transit, installation, and testing at the Project site. 14.5 Claims Made Policies. If any coverage required is written on a claims -made coverage form: (a) The retroactive date must be shown, and this date must be before the execution date of the contract. (b) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of work. (c) If coverage is cancelled or non -renewed, and not replaced with another claims -made policy form with a retroactive date prior to the contract effective, or start of work date, Grantee must purchase extended reporting period coverage for a minimum of five (5) years after completion of work. (d) A copy of the claims reporting requirements must be submitted to City. 14.6 Acceptability of Insurers. Insurance is to be placed with insurers authorized to conduct business in the state of California with a current A.M. Best rating of no less than A: VII, unless otherwise acceptable to City. 14.7 Waiver of Subrogation. Grantee hereby agrees to waive rights of subrogation which any insurer of Grantee may acquire from Grantee by virtue of the payment of any loss. Grantee agrees to obtain any endorsement that may be necessary to affect this waiver of subrogation. The Workers' Compensation policy shall be endorsed with a waiver of subrogation in favor of City for all work performed by Grantee, its employees, agents, contractors and sub- contractors.