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where the Property is located (including loss by flood if the Property is in an area <br />designated as subject to the danger of flood); <br />(c) upon commencement of the rehabilitation and at all <br />times prior to completion of the rehabilitation, builder's risk -all risk insurance covering <br />100% of the replacement cost of all hmprovements (including offsite materials) during the <br />course of construction in the event of fire, lightning, windstorm, vandalism, earthquake, <br />malicious mischief and all other risks normally covered by "all risk" coverage policies in <br />the area where the Property is located (including loss by flood if the Property is in an area <br />designated as subject to 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 />All such insurance shall provide that it may not be canceled or materially modified <br />without thirty (30) days prior written notice to City. The policies required under <br />subparagraphs (b) and (c) shall include a "lender's loss payable endorsement" in form <br />and substance satisfactory to City, showing the City as encumbrance. The City shall be <br />named as an additional insured(s) in the policies required under subparagraphs (d) and (e) <br />with primary coverage. Certificates of insurance for the above policies (and/or original <br />policies, if required by City) shall be delivered within ten (10) days after demand <br />therefore, and prior to start of any rehabilitation work. All policies insuring against <br />darnage to the Improvements shall contain an agreed value clause sufficient to eliminate <br />any risk of co- insurance. No less than thirty (30) days prior to the expiration of each <br />policy, Developer shall deliver to City evidence of renewal or replacement of such policy <br />reasonably satisfactory to City Attorney. <br />19.2 City Attorney May Modify. The City Attorney <br />may modify the type and amounts of insurance required pursuant to this Section. <br />19.3 Claims and Proceedings. Developer shall give City <br />immediate notice of any material casualty to any portion of the Property, whether or not <br />covered by insurance, and of the initiation or threatened initiation of any proceeding for <br />the condemnation or other taking for public or quasi - public use of any portion of the <br />Property (collectively, "Condemnation "), and shall provide City with copies of all <br />documents which pertain to any such casualty or Condemnation. Developer shall take all <br />action reasonably required by City in connection therewith to protect the interests of <br />Developer and/or City, and City shall be entitled (without regard to the adequacy of its <br />security) to participate in any action, claim, adjustment or proceeding and to be <br />represented therein by counsel of its choice. Developer shall not settle, adjust, or <br />compromise any claim, action, adjustment or proceeding without prior written approval, <br />which approval shall not be unreasonably withheld or delayed. <br />34 <br />