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<br /> or otherwise, have been made by any party, or anyone acting on behalf of any party, which are <br /> <br /> not embodied herein. <br /> 906. Insurance Policies Required. While any obligation of Developer under this <br /> Agreement remains outstanding, Developer shall maintain at Developer's sole expense, with <br /> insurers either (i) admitted in California or (ii) are not admitted to California but have an A.M. <br /> Best Rating of "A" or above and reasonably approved by the City, the following policies of <br /> insurance in form and substance reasonably satisfactory to the City Attorney: <br /> (a) worker's compensation insurance and any other insurance <br /> required by law in connection with the rehabilitation; <br /> (b) prior to commencement and following completion of the <br /> rehabilitation, fire and hazard "all risk" insurance covering 100% of the replacement cost of the <br /> Improvements in the event of fire, lightning, windstorm, vandalism, malicious mischief and all <br /> other risks normally covered by "all risk" coverage policies in the area where the Property is <br /> located (including loss by flood if the Property is in an area designated as subject to the danger of <br /> flood); <br /> (c) upon commencement of the rehabilitation and at all <br /> times prior to completion of the rehabilitation, permanent property replacement and liability <br /> insurance policy covering 100% of the replacement cost of all Improvements (including offsite <br /> materials) during the course of construction in the event of fire, lightning, windstorm, vandalism, <br /> earthquake, malicious mischief and all other risks normally covered in the area where the <br /> Property is located (including loss by flood if the Property is in an area designated as subject to <br /> the danger of flood); <br /> (d) public liability insurance in amounts reasonably required <br /> by City from time to time, and in no event less than $1,000,000 for "single occurrence;" <br /> (e) property damage insurance in amounts reasonable <br /> required by City from time to time, and in no event less than $1,000,000; and <br /> (f) any other insurance reasonably required by City. <br /> This countersigned certificate shall name the City and its respective officers, agents, and <br /> employees as an additionally insured party under the policy, and the certificates shall be <br /> accompanied by a duly executed enforcement evidencing such additional insured status (the <br /> City's preferred Additional Insured Endorsement is attached hereto as Exhibit E). The certificate <br /> and endorsement by the insurance carrier shall contain a statement of obligation on the part of <br /> the carrier to notify City of any material change, cancellation or termination of the coverage at <br /> least thirty (30) days in advance of the effective date of any such material change, cancellation or <br /> termination. Coverage provided hereunder by the Developer shall be primary insurance and not <br /> be contributing with any insurance maintained by the City, and the policy shall contain such an <br /> endorsement. Certificates of insurance for the above policies (and/or original policies, if <br /> required by City) shall be delivered within ten (10) days after demand therefore, and prior to start <br /> 18 <br /> 25K-54 <br /> <br />