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<br />B. Insurance shall be placed with a company having a current Best's Insurance Guide Rating <br />of at least A- and Class VII or better, and which is authorized to do business in the State of <br />California. The foregoing policy shall be adjusted by the parties every three (3) years to reflect <br />industry standards, liability claim trends and market conditions. In any event, however, the <br />foregoing policy limits shall not be less than Ten Million Dollars ($10,000,000). <br /> <br />C. The Licensee's insurance must be at least as broad as the current ISO Commercial <br />General Liability Policy (CG 00 01) protecting insured parties against claims for bodily injury, <br />death, property damage, explosion, collapse and underground, personal and advertising injury, <br />and products-completed operations, with respect to all operations of Railroad and Licensee. The <br />insurance shall include blanket contractual coverage, including, without limitation, coverage for <br />written, oral, and implied contracts and specific coverage for the indemnity provisions set forth <br />in this Agreement. Each policy obtained by Licensee shall be endorsed to include Railroad, as <br />additional insured, utilizing ISO Form CG 20 26 ('Additional Insured-Designated Person or <br />Organization') or equivalent endorsement satisfactory to Railroad. <br /> <br />D. The Licensee's insurance shall be primary with respect to construction obligation under <br />this Agreement and with respect to the interests of Railroad, as an additional insured. Any other <br />insurance maintained by Railroad shall be excess of the coverage herein defined as primary and <br />shall not contribute with it. <br /> <br />E. Licensee's insurance shall be maintained for the full term of this Agreement and shall not <br />be permitted to expire or be canceled or materially changed. Each such insurance policy shall be <br />endorsed to state that coverage shall not be suspended, voided, canceled, or reduced in coverage <br />or limits except after thirty (30) days' prior written notice has been given to each insured and <br />additional insured. <br /> <br />F. On or before the execution of this Agreement, Licensee shall provide Railroad with <br />certified copies of its policies, as well as certificates of insurance and endorsements evidencing <br />the insurance required by this Section. Certificates of insurance shall be issued on the ACORD <br />or equivalent form. <br /> <br />Section 11. NOTICES. <br /> <br />Any notice required or desired to be given under this Agreement shall be in writing and <br />personally served, given by overnight express delivery, or giyen by mail. Telecopy notices shall <br />be deemed valid only to the extent they are (a) actually received by the individual to whom <br />address, and (b) followed by delivery of actual notice in the manner described above within three <br />(3) business days thereafter. Any notice given by mail shall be sent, postage prepaid, by certified <br />mail, return receipt requested, addressed to the party to receive at the following address or at <br />such other address as the party may from time to time direct in writing: <br />