Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, Agency, City, and their respective elected and appointed officials, officers, employees, agents and representatives (together, (a) Name Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖) policy; (b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Executive Director prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant provides documentation which, in the sole discretion of Landlord, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds; (c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Million Dollars ($20,000,000) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than $1,000,000 per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits to not less than $20,000,000 per occurrence, (iv) not be written with a deductible greater than $20,000 per occurrence, (v) not be written with a self-insured retention, and
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Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, Agency, City, Landlord and their its respective elected and appointed officials, officers, employees, agents and representatives (together,, “Additional Insureds”) are named as additional insureds on all coverage, except for (i) Workers’ Compensation coverage, but including Employers Liability coverage, and (ii) the policies required under Section 9.3(b) and (c), and shall:
(a) Name the Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖) the CGL policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Executive Director the Landlord prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant provides documentation which, in the sole discretion of Landlord, which demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in Tenant shall also file with Landlord the amount of Twenty Million Dollars ($20,000,000) per occurrence, which will be considered equivalent to the required minimum limitsfollowing signed certification: “I am aware of, and such will comply with, Section 3700 of the Labor Code, requiring every employer to be insured against liability of Workers’ Compensation or to undertake self-insurance before commencing any of the work.”
(d) All Additional Insureds shall not be responsible for any claims in law or equity occasioned by the failure of Tenant to comply with this Section 9.3.3. Landlord shall have the right, but not the obligation, to pay a premium on behalf of Xxxxxx and be reimbursed by Xxxxxx as Additional Rent.
(e) For all insurance required under this Section 9.3, Landlord shall have the right, at every five (5) year period of this Lease, to review the types and limits of insurance coverage required herein and to make reasonable adjustments, provided that (i) be written such types and limits shall not exceed that typically carried by the owner and operator of comparable projects, of approximately the same size, in Orange County, California, based on an occurrence formreasonable research and investigation by Landlord, and (ii) be written with a primary policy form with the limits of the CGL policy shall not less exceed the limits set forth in Section 9.3.1(d).
(f) Notwithstanding any other provision of this Lease, any policy of property insurance procured pursuant to this Section 9.3 of this Lease may contain a mortgage loss payable clauses and any proceeds of a claim thereunder shall be paid over to Mortgagee (and if there is more than $1,000,000 per occurrence; (iii) one Mortgagee, in the order of priority of their liens), to be written applied against the indebtedness which Mortgagee’s security instruments on the interest of Xxxxxx in the Property secures. Furthermore, Mortgagee shall have the right to participate in the adjustment of any losses with one or more excess layers respect to bring insurance proceeds, subject to the total applicable provisions of primary the Mortgage and excess coverage limits to not less than $20,000,000 per occurrence, (iv) not be written with a deductible greater than $20,000 per occurrence, (v) not be written with a self-insured retention, andother documents that govern the loan secured by the Mortgage.
Appears in 1 contract
Samples: Ground Lease
Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, Agency, City, City and their respective i ts elected and appointed officials, officers, employees, agents and representatives (together,, "Additional lnsureds") are named as additional insureds on all coverage, except for Workers' Compensation coverage, but including Employers Liability coverage, and shall:
(a) Name the Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖"CGL") policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Executive Director City Manager prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant Developer provides documentation which, in the sole discretion of LandlordCity, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ ' status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Three Million Dollars ($20,000,0003,000,000.00) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than One Million ($1,000,000 1,000,000.00) per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits l imits to not less than Three Thousand Dollars ($20,000,000 3,000,000.00) per occurrence, (iv) not be written with a deductible greater than Twenty Thousand Dollars ($20,000 20,000.00) per occurrenceoccurrence (without prior written approval by City, which approval shall be granted or denied in City's sole and absolute discretion), (v) not be written with a self-insured retentionretention (without prior written approval by City, which approval shall be granted or denied in City's sole and absolute discretion), and (vi) contain a waiver of subrogation in favor of City. Such insurance shall include independent contractor coverage and shall cover the acts, errors, omissions, or works of any of Developer's subcontractors and any other person(s) acting on behalf of Developer (but only for professionals or trades that typically secure errors and omissions insurance coverage for similar work), as respects any liability that may occur to Developer and/or any Additional Insureds from such acts, errors, omissions or work;
(d) Provide primary Automobile Liability insurance for owned, non- owned, and hired vehicles, as applicable to, or for any use related to, the Project, in an amount not less than One Million Dollars ($1,000,000.00) combined single limit, with excess insurance coverage to bring the total amount of Automobile Liability insurance coverage to an amount not less than Two Million Dollars ($2,000,000.00) per accident for bodily injury and property damage;
(e) Bear an endorsement or shall have attached a rider providing that City shall be notified not less than thirty (30) calendar days before any expiration, cancellation, non renewal, reduction in coverage, increase in deductible, or other material modification of such policy or policies, and shall be notified not less than ten (I 0) calendar days after any event of nonpayment of premium (collectively, "Cancellation Notice"), provided, however, that an individual endorsement specifically naming City shall not be required if Developer provides documentation which, in the sole discretion of City, demonstrates that City will automatically receive such Cancellation Notice under some sort of blanket policy language, without the need for a separate endorsement in favor of City; and
Appears in 1 contract
Samples: Affordable Housing Agreement
Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, AgencyAuthority, City, and their respective elected and appointed officials, officers, employees, agents and representatives (together,, “Additional Insureds”) are named as additional insureds on all coverage, except for Workers’ Compensation coverage, but including Employers Liability coverage, and shall:
(a) Name the Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖“CGL”) policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Authority Executive Director prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant Developer provides documentation which, in the sole discretion of LandlordAuthority, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Million Dollars ($20,000,000) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than $1,000,000 per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits to not less than $20,000,000 per occurrence, (iv) not be written with a deductible greater than $20,000 per occurrenceoccurrence (without prior written approval by Authority, which approval shall be granted or denied in Authority’s sole and absolute discretion), (v) not be written with a self-insured retentionretention (without prior written approval by Authority, which approval shall be granted or denied in Authority’s sole and absolute discretion), and (vi) contain a waiver of subrogation in favor of the Authority and City. Such insurance shall include independent contractor coverage and shall cover the acts, errors, omissions, or works of any of Developer’s subcontractors and any other person(s) acting on behalf of Developer, as respects any liability that may occur to Developer and/or any Additional Insureds from such acts, errors, omissions or work;
(d) Provide primary Automobile Liability insurance for owned, non- owned, and hired vehicles, as applicable to, or for any use related to, Phase II, in an amount not less than One Million Dollars ($1,000,000) combined single limit, with excess insurance coverage to bring the total amount of Automobile Liability insurance coverage to an amount not less than Five Million Dollars ($5,000,000) per accident for bodily injury and property damage;
(e) Bear an endorsement or shall have attached a rider providing that Authority shall be notified not less than thirty (30) days before any expiration, cancellation, non-renewal, reduction in coverage, increase in deductible, or other material modification of such policy or policies, and shall be notified not less than ten (10) days after any event of nonpayment of premium (collectively, “Cancellation Notice”), provided, however, that an individual endorsement specifically naming the Authority shall not be required if Developer provides documentation which, in the sole discretion of Authority, demonstrates that the Authority will automatically receive such Cancellation Notice under some sort of blanket policy language, without the need for a separate endorsement in favor of the Authority; and
(f) Developer shall also file with Authority the following signed certification: “I am aware of, and will comply with, Section 3700 of the Labor Code, requiring every employer to be insured against liability of Workers’ Compensation or to undertake self-insurance before commencing any of the work.” Developer shall comply with Sections 3700 and 3800 of the Labor Code by securing, paying for and maintaining in full force and effect from and after the Closing of Escrow, and continuing for the Term of the Ground Lease, complete Workers’ Compensation insurance, to statutory limits, with Employers Liability limits not less than One Million Dollars ($1,000,000) per occurrence, and shall furnish a Certificate of Insurance to Authority before the commencement of construction. Every Workers’ Compensation insurance policy shall bear an endorsement or shall have attached a rider providing that, in the event of expiration, proposed cancellation, or reduction in coverage of such policy for any reason whatsoever, Authority shall be notified, giving Developer a sufficient time to comply with applicable law, but in no event less than thirty (30) days before such expiration, cancellation, or reduction in coverage is effective or ten (10) days in the event of nonpayment of premium.
(g) All Additional Insureds shall not be responsible for any claims in law or equity occasioned by the failure of Developer to comply with this Section 3.6.
1. Authority shall have the right, but not the obligation, to pay a premium on behalf of Developer
(h) Should any of the insurance coverage required herein be written with an annual aggregate: (i) such aggregate shall be disclosed in writing to Authority, (ii) should total incurred claims (paid plus reserves) against such insurance exceed fifty percent (50%) of the applicable aggregate, Developer shall prompt notify Authority in writing, and (iii) should total incurred claims (paid plus reserves) against such insurance exceed seventy-five percent (75%) of the applicable aggregate, Developer shall promptly notify Authority in writing and promptly take whatever action is necessary to have the aggregate reinstated to an amount not less than fifty percent (50%) of the original aggregate amount.
(i) For all insurance required under this subsection 3.6.1, Authority shall have the right, at every ten (10) year period of the Ground Lease, to review the types and limits of insurance coverage required herein and to make reasonable adjustments, provided that such types and limits shall not exceed that typically carried by the owner and operator of a first class apartment complex, of approximately the same size, in Orange County, California, based on reasonable research and investigation by Authority.
Appears in 1 contract
Samples: Affordable Housing Agreement
Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which LandlordAuthority, Agency, City, and their respective elected and appointed officials, officers, employees, agents and representatives (together,, “Additional Insureds”) are named as additional insureds on all coverage, except for Workers’ Compensation coverage, but including Employers Liability coverage, and shall:
(a) Name Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖“CGL”) policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Authority Executive Director prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant provides documentation which, in the sole discretion of Landlord, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Million Dollars ($20,000,000) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than $1,000,000 per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits to not less than $20,000,000 per occurrence, (iv) not be written with a deductible greater than $20,000 per occurrence, (v) not be written with a self-insured retention, anda
Appears in 1 contract
Samples: Affordable Housing Agreement
Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, AgencyAuthority, City, and their respective elected and appointed officials, officers, employees, agents and representatives (together,, “Additional Insureds”) are named as additional insureds on all coverage, except for Workers’ Compensation coverage, but including Employers Liability coverage, and shall:
(a) Name the Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖“CGL”) policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Authority Executive Director prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant Developer provides documentation which, in the sole discretion of LandlordAuthority, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Million Dollars ($20,000,000) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than $1,000,000 per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits to not less than $20,000,000 per occurrence, (iv) not be written with a deductible greater than $20,000 per occurrenceoccurrence (without prior written approval by Authority, which approval shall be granted or denied in Authority’s sole and absolute discretion), (v) not be written with a self-insured retentionretention (without prior written approval by Authority, which approval shall be granted or denied in Authority’s sole and absolute discretion), and (vi) contain a waiver of subrogation in favor of the Authority and City. Such insurance shall include independent contractor coverage and shall cover the acts, errors, omissions, or works of any of Developer’s subcontractors and any other person(s) acting on behalf of Developer, as respects any liability that may occur to Developer and/or any Additional Insureds from such acts, errors, omissions or work;
(d) Provide primary Automobile Liability insurance for owned, non- owned, and hired vehicles, as applicable to, or for any use related to, Phase I, in an amount not less than One Million Dollars ($1,000,000) combined single limit, with excess insurance coverage to bring the total amount of Automobile Liability insurance coverage to an amount not less than Five Million Dollars ($5,000,000) per accident for bodily injury and property damage;
(e) Bear an endorsement or shall have attached a rider providing that Authority shall be notified not less than thirty (30) days before any expiration, cancellation, non-renewal, reduction in coverage, increase in deductible, or other material modification of such policy or policies, and shall be notified not less than ten (10) days after any event of nonpayment of premium (collectively, “Cancellation Notice”), provided, however, that an individual endorsement specifically naming the Authority shall not be required if Developer provides documentation which, in the sole discretion of Authority, demonstrates that the Authority will automatically receive such Cancellation Notice under some sort of blanket policy language, without the need for a separate endorsement in favor of the Authority; and
(f) Developer shall also file with Authority the following signed certification: “I am aware of, and will comply with, Section 3700 of the Labor Code, requiring every employer to be insured against liability of Workers’ Compensation or to undertake self-insurance before commencing any of the work.” Developer shall comply with Sections 3700 and 3800 of the Labor Code by securing, paying for and maintaining in full force and effect from and after the Closing of Escrow, and continuing for the Term of the Ground Lease, complete Workers’ Compensation insurance, to statutory limits, with Employers Liability limits not less than One Million Dollars ($1,000,000) per occurrence, and shall furnish a Certificate of Insurance to Authority before the commencement of construction. Every Workers’ Compensation insurance policy shall bear an endorsement or shall have attached a rider providing that, in the event of expiration, proposed cancellation, or reduction in coverage of such policy for any reason whatsoever, Authority shall be notified, giving Developer a sufficient time to comply with applicable law, but in no event less than thirty (30) days before such expiration, cancellation, or reduction in coverage is effective or ten (10) days in the event of nonpayment of premium.
(g) All Additional Insureds shall not be responsible for any claims in law or equity occasioned by the failure of Developer to comply with this Section 3.6.1. Authority shall have the right, but not the obligation, to pay a premium on behalf of Developer
(h) Should any of the insurance coverage required herein be written with an annual aggregate: (i) such aggregate shall be disclosed in writing to Authority, (ii) should total incurred claims (paid plus reserves) against such insurance exceed fifty percent (50%) of the applicable aggregate, Developer shall prompt notify Authority in writing, and (iii) should total incurred claims (paid plus reserves) against such insurance exceed seventy-five percent (75%) of the applicable aggregate, Developer shall promptly notify Authority in writing and promptly take whatever action is necessary to have the aggregate reinstated to an amount not less than fifty percent (50%) of the original aggregate amount.
(i) For all insurance required under this subsection 3.6.1, Authority shall have the right, at every ten (10) year period of the Ground Lease, to review the types and limits of insurance coverage required herein and to make reasonable adjustments, provided that such types and limits shall not exceed that typically carried by the owner and operator of a first class apartment complex, of approximately the same size, in Orange County, California, based on reasonable research and investigation by Authority.
Appears in 1 contract
Samples: Affordable Housing Agreement
Minimum Coverage/Endorsements. Notwithstanding any inconsistent statement in the policy or any subsequent endorsement attached hereto, the protection afforded by these policies shall be written on an occurrence basis in which Landlord, Agency, City, City and their respective its elected and appointed officials, officers, employees, agents and representatives (together,, "Additional Insureds") are named as additional insureds on all coverage, except for Workers' Compensation coverage, but including Employers Liability coverage, and shall:
(a) Name the Additional Insureds (from above) as additional insureds on a Commercial General Liability (―CGL‖"CGL") policy;
(b) Include an endorsement to the CGL policy naming the Additional Insureds as additional insureds, and said endorsement shall be delivered to Executive Director City Manager prior to and as a Condition Precedent to the Closing (and maintained as required herein); provided, however, that an individual endorsement specifically naming the Additional Insureds shall not be required if Tenant Developer provides documentation which, in the sole discretion of LandlordCity, demonstrates that the Additional Insureds are otherwise automatically covered under some sort of blanket policy language that clearly establishes the Additional Insureds’ ' status as additional insureds under the policy, without the need for a separate endorsement in favor of the Additional Insureds;
(c) Provide a combined single limit of broad form commercial general liability insurance in the amount of Twenty Two Million Dollars ($20,000,0002,000,000.00) per occurrence, which will be considered equivalent to the required minimum limits, and such insurance shall (i) be written on an occurrence form, (ii) be written with a primary policy form with limits of not less than One Million ($1,000,000 1,000,000.00) per occurrence; (iii) be written with one or more excess layers to bring the total of primary and excess coverage limits to not less than Two Million Dollars ($20,000,000 2,000,000.00) per occurrence, (iv) not be written with a deductible greater than Twenty Thousand Dollars ($20,000 20,000.00) per occurrenceoccurrence (without prior written approval by City, which approval shall be granted or denied in City's sole and absolute discretion), (v) not be written with a self-insured retentionretention (without prior written approval by City, which approval shall be granted or denied in City's sole and absolute discretion), and (vi) contain a waiver of subrogation in favor of City. Such insurance shall include independent contractor coverage and shall cover the acts, errors, omissions, or works of any of Developer's subcontractors and any other person(s) acting on behalf of Developer (but only for professionals or trades that typically secure errors and omissions insurance coverage for similar work), as respects any liability that may occur to Developer and/or any Additional Insureds from such acts, errors, omissions or work;
(d) Provide primary Automobile Liability insurance for owned, non- owned, and hired vehicles, as applicable to, or for any use related to, the Project, in an amount not less than One Million Dollars ($1,000,000.00) combined single limit, with excess insurance coverage to bring the total amount of Automobile Liability insurance coverage to an amount not less than Two Million Dollars ($2,000,000.00) per accident for bodily injury and property damage;
(e) Bear an endorsement or shall have attached a rider providing that City shall be notified not less than thirty (30) calendar days before any expiration, cancellation, non renewal, reduction in coverage, increase in deductible, or other material modification of such policy or policies, and shall be notified not less than ten (I 0) calendar days after any event of nonpayment of premium (collectively, "Cancellation Notice"), provided, however, that an individual endorsement specifically naming City shall not be required if Developer provides documentation which, in the sole discretion of City, demonstrates that City will automatically receive such Cancellation Notice under some sort of blanket policy language, without the need for a separate endorsement in favor of City; and
Appears in 1 contract
Samples: Affordable Housing Agreement
