25F - TAXI SRVS AT SARTC - Laserfiche WebLink

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DO NOT RECORD In addition to the Licensee's covenant to indemnify and hold harmless Licensor, Licensee shall obtain and furnish to Licensor, a policy of general public liability insurance, commercial general liability insurance including motor vehicle coverage for all vehicles in Licensee's fleet of cars, servicing the License Area. The policy shall indemnify Licensee and Licensor, its officers, agents and employees, while acting within the scope of their duties, against any and all claims arising out of or in connection with the License Area, and shall provide coverage in not less than the following amount: combined single limit bodily injury, personal injury and property damage, liability, of $1,000,000 per occurrence. $2,000,000 aggregate. Licensor also requires an Additional Insured Endorsement, as attached and incorporated herein as Exhibit D. The policy shall name the City of Santa Ana, its agents, officers, employees and volunteers as Additional Insureds, and shall specifically provide that Licensee's insurance coverage shall be primary. Under no circumstances shall the above-mentioned insurance contain a "deductible" or any other similar form of limitation on the required coverage. Licensee is required to give the Licensor no less than thirty (30) days notice of cancellation or reduction in coverage. No cancellation provision in any insurance policy shall be construed in derogation of the continuous duty of Licensee to furnish insurance during the term of this Agreement. Failure to comply with the insurance provisions contained herein shall be deemed an event of default under this Agreement. Licensee shall maintain the required insurance certificates in accordance with the terms of this Agreement as well as pursuant to the Orange County Taxi Administration Program (OCTAP) standards. Should any of Licensee's insurance policies have a deductible, the Licensee is fully responsible for payment of said deductible, with no monetary contribution by Licensor. Section 4.03 Property Insurance Licensee shall provide to Licensor, before entering the License Area, and shall maintain in force during the entire term of this Agreement, property insurance with extended coverage endorsements thereon, on the License Area in an amount equal to the full replacement cost and/or value thereof; this policy shall contain a replacement cost endorsement naming Licensee as the insured and shall not contain a co-insurance penalty provision. The policy shall contain a special endorsement that such proceeds shall be used to repair or rebuild any such improvements so damaged or destroyed; and if not so used, such proceeds shall be paid to Licensor. The proceeds of any such insurance payable to Licensor shall be used for rebuilding or repair as necessary to restore the License Area at the discretion of Licensor. The policy shall name Licensor as an Additional Insured. The policy or policies shall also contain the following endorsements: 1. The insurer will not cancel or reduce the insured's coverage without thirty (30) days prior written notice to Licensor; and 6 25F-9