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(c) upon commencement of the construction and at all times prior to completion <br />of the construction, builder's risk/all risk insurance covering 100% of the replacement cost of all <br />Improvements (including offsite materials) during the course of construction in the event of fire, <br />lightning, windstorm, vandalism, earthquake, malicious mischief and all other risks normally covered <br />by all risk coverage policies in the area where the Property is located; which said insurance shall <br />expressly include damage or loss by flood or storm; <br />(d) general liability insurance in amounts reasonably required by City from time <br />to time, and in no event less than $5,000,000 for "single" occurrence; <br />(e) public liability insurance in amounts reasonably required by City from time to <br />time, and in no event less than $1,000,000 for "single" occurrence; <br />(f) property damage insurance in amounts reasonable required by City from time <br />to time, and in no event less than $1,000,000. <br />(g) any other 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 City and Agency. The policies required under subparagraphs <br />(b) and (c) shall include a "lender's loss payable endorsement" (Form 438BFU) in form and <br />substance satisfactory to City, showing the Agency and the City as loss payees. The Agency and the <br />City shall be named as additional insureds) in the policies required under subparagraphs (d), (e) and <br />(f). Certificates of insurance for the above policies (and/or original policies, if required by City) shall <br />be delivered within ten (10) days after demand therefore, and prior to start of any construction work. <br />All policies insuring against damage to the Improvements shall contain an agreed value clause <br />sufficient to eliminate any risk of co-insurance. No less than thirty (30) days prior to the expiration <br />of each policy, Vista Del Rio shall deliver to City evidence of renewal or replacement of such policy <br />reasonably satisfactory to City Attorney and/or City Risk Manager. <br />19.2 City Attorney and/or City Risk Manager May Modify. The City Attorney and/or <br />City Risk Manager may modify the type and amounts of insurance (including reasonable increases <br />in policy limits) required pursuant to this Section. <br />19.3 Claims and Proceedings. Vista Del Rio shall give City and Agency immediate <br />notice of any material casualty to any portion of the Property/Project, whether or not covered by <br />insurance, and of the initiation or threatened initiation of any proceeding for the condemnation or <br />other taking for public or quasi-public use of any portion of the Property (collectively, <br />"Condemnation"), and shall provide City and Agency with copies of all documents which pertain to <br />any such casualty or Condemnation. Vista Del Rio shall take all action reasonably required by the <br />Executive Directors in connection therewith to protect the interests of Vista Del Rio, City, and <br />Agency, and City and Agency shall be entitled (without regard to the adequacy of its security) to <br />participate in any action, claim, adjustment or proceeding and to be represented therein by counsel of <br />its choice. Vista Del Rio shall not settle, adjust, or compromise any claim, action, adjustment or <br />proceeding without the prior written approval of the Executive Directors, which approval shall not be <br />unreasonably withheld or delayed. <br />19.4 Delivery of Proceeds to City/Agency. In the event that, notwithstanding the <br />"lender's loss payable endorsement" requirement set forth above, the proceeds of any casualty <br />38 <br />DOCSOC/ 1475221 v5/200272-0004 <br />