Laserfiche WebLink
DO NOT RECORD <br />endorsement naming Licensee as the insured and shall not contain a co-insurance penalty <br />provision. The policy shall contain a special endorsement that such proceeds shall be <br />used to repair or rebuild any such improvements so damaged or destroyed; and if not so <br />used, such proceeds shall be paid to Licensor. The proceeds of any such insurance <br />payable to Licensor shall be used for rebuilding or repair as necessary to restore the <br />License Area at the discretion of Licensor. The policy shall name Licensor as an <br />Additional Insured. <br />The policy or policies shall also contain the following endorsements: <br />1. The insurer will not cancel or reduce the insured's coverage without <br />thirty (30) days prior written notice to Licensor; and <br />2. Licensor will not be responsible for premiums or assessments on the <br />policy. <br />A complete and signed certificate of insurance with all endorsements required by this <br />Section shall be filed with Licensor prior to the execution of this Agreement. At least <br />thirty (30) days prior to the expiration of any such policy, a signed and complete <br />certification of insurance showing that coverage has been renewed, shall be filed with <br />Licensor. <br />Section 4.04 Certificates of Insurance; Additional Insured Endorsements <br />Prior to execution of this Agreement, Licensee shall furnish to Licensor certificates of <br />insurance and additional insured endorsements to each of Licensee's insurance policies, <br />subject to approval of the City Attorney, evidencing the foregoing insurance coverages as <br />required by this Agreement; these certificates shall: <br />provide the name and policy number of each carrier and policy; <br />2. shall state that the policy is currently in force; and <br />3. shall promise to provide that such policies will not be canceled, suspended, <br />voided, reduced in coverage or in limits, or modified without thirty (30) days <br />prior written notice of Licensor; and shall state as follows: <br />Licensee represents to Licensor and Licensor acknowledges that Licensee self-insures in the <br />ordinary course of its business . Notwithstanding any other provision contained herein to the <br />contrary, the insurance obligations of Licensee set forth in this License may be satisfied by <br />endorsements to existing excess/umbrella policies written by companies of recognized <br />standing showing aself-insurance retention of not less than the public liability requirement. <br />Licensee shall maintain the foregoing insurance coverages in force throughout the term of <br />this Agreement. The requirement for carrying the foregoing insurance coverages shall <br />250-7 <br />