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rinciples and established City accounting procedures. Any such inspection and/or examination <br />shall be conducted during normal business hours with prior 15 days written notice to SABC. <br />ARTICLE 3 <br />INDEMNITY AND INSURANCE <br />§ 3.01 Indemnification <br />SABC shall indemnify and save harmless City and its officers, agents and employees from <br />and against any and all claims, demands, loss or liability of any kind or nature which City or its <br />officers, agents, or employees may sustain or incur, or which may be imposed upon them, or any of <br />them, as a result of, arising out of, or in any manner connected with SABC's management and/or <br />administration of the BID funds. <br />§ 3.02 Insurance Requirement Generally <br />Prior to the Commencement Date (except as hereinafter otherwise provided), SABC shall <br />obtain at its sole cost and file with the Clerk of the Council, and maintain throughout the Term, <br />policies of insurance as required by this section and sections 3.03 through 3.05, or a certificate of <br />such insurance, satisfactory in form to the City Attorney. Each such policy (except policies of <br />Workers' Compensation Insurance) shall name City as an insured or additional insured and each <br />liability insurance policy shall also name the officers, agents and employees of City as insureds or <br />additional insureds. Each such policy shall also contain a provision that no termination, <br />cancellation or change of coverage or (where applicable) of insured or additional insured shall be <br />effective until after thirty (30) days notice thereof has been given in writing to City. <br />§ 3.03 Liability Insurance <br />SABC shall provide a policy or policies of insurance which provides coverage not less than <br />that provided in the form of a comprehensive general liability insurance policy against liability for <br />any and all claims and suits for damages or injuries to persons or property resulting from or arising <br />out of the operations of SABC, its officers, employees, agents or assigns. Said policy or policies of <br />insurance shall provide coverage for both bodily injury and property damage in not less than One <br />Million Dollars ($1,000,000.00) combined single limit, or its equivalent. <br />§ 3.04 Fidelity Bonding <br />SABC shall provide a policy or policies of insurance insuring SABC against loss due to <br />dishonesty of SABC's officers, agents and employees. Said policy or policies shall provide <br />coverage in not less than $1,000,000. <br />7 <br />25D-21