GREENBRIAR HOMES - REIMBURSEMENT AGMT CONSTRUCTION OF VINEYARD AVE.

All insurance companies affording coverage shall be required to add the City as an additional insured under the insurance policy for all work performed in accordance with this Agreement. All insurance companies affording coverage shall be insurance organizations authorized by the Insurance Commissioner of the State Department of Insurance to transact business of insurance in the State of California with a Best's rating of not less than A minus (A-) :VII; provided, however, if the Construction Manager or the General Contractor carries Workers Compensation insurance through State Fund, the aforementioned Best rating shall not apply. All insurance companies affording coverage shall provide thirty-day (30) written notice to the City should the policy be canceled before the expiration date. For the purposes of this notice requirement, any material change in the policy prior to the expiration shall be considered a cancellation. The Construction Manager or the General Contractor shall provide, or cause to be provided, evidence of compliance with the insurance requirements listed above by providing a certificate of insurance, in a form reasonably satisfactory to the City Attorney, concurrently with the submittal of this Agreement. • The Construction Manager or General Contractor shall provide, or cause to be provided, a substitute certificate of insurance no later than ten (10) days prior to the policy expiration date. Failure to provide such a substitution and extend the policy expiration date shall be considered a default by the Construction Manager or the General Contractor and may subject the Construction Manager or the General Contractor to a Stop Work Notice until the default has been cured. Maintenance of insurance as specified in this Agreement shall in no way be interpreted as relieving the Construction Manager or the General Contractor of any responsibility whatever and the Construction Manager or the General Contractor may carry, at its own expense, such additional insurance as it deems necessary. The insurer shall provide the amount ofself-insured retention and City shall have the right to deny insurance coverage if it deems the self-insured retention exceeds a reasonable deduction. 11. Notices. All notices herein required shall be in writing and shall be delivered in person, by facsimile, or sent by certified mail, postage prepaid. Notices required to be given to City shall be addressed as follows: C7 X:\ADMTIV\PGSM\Council 2003\Vineyard Ave Improvement Reim Agreement attach sr 03 174.doc