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Deed(s) of Trust. Such reimbursement obligations shall survive the cancellation of the Agency <br />Promissory Note and/or the City Promissory Note, release and reconvcyance of the Agency/City <br />Deed(s) of Trust, issuance of a Release of Construction Covenants, and termination of this <br />Agreement. <br />1900. INSIIRANCE, CASUALTY AND CONDEMNATION <br />1901. Policies Required. While any obligation of Developer under the Project Documents <br />remains outstanding, Developer shall maintain at Developer's _~Qle expense, with insutrors either <br />(i) admitted in California or (ii) whioh are not admitted to <br />"A" or above and reasonably approved by the Agency/1 <br />form and substance reasonably satisfactory to the City Ar <br />Manager] <br />(a) worker's <br />law in connection with the construction; <br />(b) prior to <br />fire and hazard "all risk" insurance cc <br />the event of fire, lightning, windstor•i <br />covered by "all risk" coverage polieie <br />flood if the Property is in an area desig <br />completion of the consLTUct <br />cost of all Improvem~iif;:;(ir <br />of fire, lightning, windstorm <br />covered by `,`.all risk" coved <br />flood if the Property i ;in an <br />time to <br />%z, (e) ] <br />Agency/City from ttirlq to time, <br />l have an A.M. Best Rating of <br />wing policies of insurance in <br />ect to Approval by City Rislc <br />and afiyother insurance required by <br />ncememf and following completion o£the construction, <br />100% of Ehe rpp~laccmcnt cost of tl~ie Ttnprovcments in <br />rlism, mahotoCiS;''mischief and all other asks normally <br />areg where the ,Property is located (including loss by <br />s "subject,to the darige~~,of flood); <br />~f the ,construction and at all times prior to <br /><tnsmarice~`cgveriug 100% of the replacement <br />during the course of construction in the event <br />malicious mischief and all other risks normally <br />yere the Property is located (including loss by <br />`;~o the danger of flood); <br />iisiance in amounts reasonably required by <br />less than $1,000,000 for "single occurrence;" <br />y dairiage insw•ance in amounts reasonably required by the <br />no event less than $1,000,000; and <br />insurance reasonably required by Agency/City, <br />All such insurance shall provide that it may not be canceled or materially modified without <br />thirty (30) days prior written notice to Agency/City. The policies required under subparagraphs (b) <br />and (c) shall include a "lender's loss payable endorsement" (Form 438BFLI) in form and substance <br />satisfactory to Agency/City, showing the Agency and the City as encumbrance, The Agency and the <br />City shall be named as an additional insurcd(s) in the policies required under subparagraphs (d) and <br />(e). Certificates of insurance for the above politics (and/or original policies, if required by <br />Agency/City) shall be delivered within ten (10) days after demand therefore, and prior to start of any <br />construction work All policies insuring against damage to the Improvements shall contain an agreed <br />value clause sufficient to eliminate any risk of co-insuranoe. No less than thirty (30) days prior to the <br />expiration of each policy, Developer shall deliver to Agency/City evidence of renewal or <br />replacement of such policy reasonably satisfactory to City Attorney. <br />53 <br />