Common use of Property Manager’s Insurance Clause in Contracts

Property Manager’s Insurance. Property Manager shall maintain, at its expense, insurance coverages in the following amounts: (i) Worker’s Compensation – Coverage A: statutory amount Coverage B: Employer’s Liability insurance: $500,000 Each Accident $500,000 Disease, Policy Limit $500,000 Disease, Each Employee Worker’s Compensation policy shall include a waiver of all rights of subrogation against Owner for injuries sustained by Property Manager’s employees while working at any Property. (ii) Commercial General Liability, on an occurrence basis, including Bodily Injury and Property Damage Liability, Personal and Advertising Injury Liability for the following limits: General Aggregate $ 2,000,000 Products - Completed Operations Aggregate $ 2,000,000 Each Occurrence $ 1,000,000 Personal and Advertising Injury Liability $ 1,000,000 Initials: PM Owner Property Manager’s Commercial General Liability policy shall (i) be secondary, excess and non-contributory to Owner’s commercial general liability insurance provided in Section 7(a) of this Agreement, and (ii) an endorsement deleting the contractual liability exclusion contained in the Personal and Advertising Injury Liability coverage (iii) Owned, Hired and Non-Owned Business Automobile liability insurance in an amount no less than $1,000,000 per accident Combined Single Limit for bodily injury and property damage (iv) Property Manager’s Errors & Omissions Insurance in an amount not less than $1,000,000 per loss, aggregate. (v) Employee Theft Insurance in an amount not less than $1,000,000. Employee Theft Insurance policy shall be endorsed to name Owner as a loss payee and to provide coverage for theft of Owner’s money, securities and other property by employees of Property Manager. (vi) Property Insurance coverage for personal property of Property Manager. All coverage shall be provided by insurance companies with a current Best’s Rating of A VIII or higher. At the commencement of the Agreement, Property Manager shall furnish Owner with Certificates of Insurance. All insurance policies shall provide for 30 days’ written notice to Owner prior to the cancellation or any material change to any provisions therein. Certificates of Insurance shall be modified so the words “endeavor to”, “but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives”, and all provisions of similar effect shall be deleted from the certificate form’s cancellation provision. At least ten (10) days prior to the expiration of any such policy, Property Manager will provide to Owner evidence of the renewal or replacement of the aforesaid policies.

Property Manager’s Insurance. Property Manager shall maintain, at its expense, insurance coverages in the following amounts: (i) Worker’s Compensation – Coverage A: statutory amount Coverage B: Employer’s Liability insurance: $500,000 Each Accident $500,000 Disease, Policy Limit $500,000 Disease, Each Employee Worker’s Compensation policy shall include a waiver of all rights of subrogation against an Alternate Employers Endorsement WC 00 03 01 naming Property Owner as Alternate Employer for injuries sustained by Property Manager’s employees while working occurring at any “Property.” (ii) Commercial General Liability, on an occurrence basis, including Bodily Injury and Property Damage Liability, Personal and Advertising Injury Liability for the following limits: General Aggregate $ 2,000,000 Products - Completed Operations Aggregate $ 2,000,000 Each Occurrence $ 1,000,000 Personal and Advertising Injury Liability $ 1,000,000 Initials: PM Owner Property Managermanager’s Commercial General Liability policy shall (i) be secondary, excess include Real Estate Property Managed Endorsement: CG 22 70 11 85 and non-contributory to Owner’s commercial general liability insurance provided in Section 7(a) of this Agreement, and (ii) an endorsement deleting the contractual liability exclusion contained in the Personal and Advertising Injury Liability coverage (iii) Owned, Hired and Non-Owned Business Automobile liability insurance in an amount no less than $1,000,000 per accident Combined Single Limit for bodily injury and property damage (iv) Property Manager’s Errors & Omissions Insurance in an amount not less than $1,000,000 per loss, aggregate. (v) Employee Theft Insurance in an amount not less than $1,000,000. Employee Theft Insurance policy shall be endorsed to name Owner as a loss payee Additional Insured and to provide coverage for theft of Owner’s money, securities and other property by employees of Property Manager. (vi) Property Insurance coverage for personal property of Property Manager. All coverage shall be provided by insurance companies with a current Best’s Rating of A VIII or higher. At the commencement of the Agreement, Property Manager shall furnish Owner with Certificates of Insurance. All insurance policies shall provide for 30 days’ written notice to Owner prior to the cancellation or any material change to any provisions therein. Certificates of Insurance shall be modified so the words “endeavor to”, “but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives”, and all provisions of similar effect effect, shall be deleted from the certificate form’s cancellation provision. At least ten (10) days prior to the expiration of any such policy, Property Manager will provide to Owner evidence of the renewal or replacement of the aforesaid policies.

Property Manager’s Insurance. Property Manager shall maintain, at its expense, insurance coverages in the following amounts: (i) Worker’s Compensation – Coverage A: statutory amount Coverage B: Employer’s Liability insurance: $500,000 Each Accident $500,000 Disease, Policy Limit $500,000 Disease, Each Employee Worker’s Compensation policy shall include a waiver of all rights of subrogation against an Alternate Employers Endorsement WC 00 03 01 naming Property Owner as Alternate Employer for injuries sustained by Property Manager’s employees while working occurring at any “Property.” (ii) Commercial General Liability, on an occurrence basis, including Bodily Injury and Property Damage Liability, Personal and Advertising Injury Liability for the following limits: General Aggregate $ 2,000,000 Products - Completed Operations Aggregate $ 2,000,000 Each Occurrence $ 1,000,000 Personal and Advertising Injury Liability $ 1,000,000 Initials: PM Owner Property Managermanager’s Commercial General Liability policy shall (i) be secondary, excess include Real Estate Property Managed Endorsement: CG 22 70 11 85 and non-contributory to Owner’s commercial general liability insurance provided in Section 7(a) of this Agreement, and (ii) an endorsement deleting the contractual liability exclusion contained in the Personal and Advertising Injury Liability coverage (iii) Owned, Hired and Non-Owned Business Automobile liability insurance in an amount no less than $1,000,000 per accident Combined Single Limit for bodily injury and property damage (iv) Property Manager’s Errors & Omissions Insurance in an amount not less than $1,000,000 per loss, aggregate. (v) Employee Theft Insurance in an amount not less than $1,000,000. Employee Theft Insurance policy shall be endorsed to name Owner as a loss payee Additional Insured and to provide coverage for theft of Owner’s money, securities and other property by employees of Property Manager. (vi) Property Insurance coverage for personal property of Property Manager. All coverage shall be provided by insurance companies with a current Best’s Rating of A VIII or higher. At the commencement of the Agreement, Property Manager shall furnish Owner with Certificates of Insurance. All insurance policies shall provide for 30 days’ written notice to Owner prior to the cancellation or any material change to any provisions therein. Certificates of Insurance shall be modified so the words “endeavor to”, “but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives”, and all provisions of similar effect shall be deleted from the certificate form’s cancellation provision. At least ten (10) days prior to the expiration of any such policy, Property Manager will provide to Owner evidence of the renewal or replacement of the aforesaid policies.

Property Manager’s Insurance. Property Manager shall maintain, at its expense, insurance coverages in the following amounts: (i) Worker’s Compensation – Coverage A: statutory amount Coverage B: Employer’s Liability insurance: $500,000 Each Accident $500,000 Disease, Policy Limit $500,000 Disease, Each Employee Worker’s Compensation policy shall include a waiver of all rights of subrogation against an Alternate Employers Endorsement WC 00 03 01 naming Property Owner as Alternate Employer for injuries sustained by Property Manager’s employees while working occurring at any “Property.” (ii) Commercial General Liability, on an occurrence basis, including Bodily Injury and Property Damage Liability, Personal and Advertising Injury Liability for the following limits: General Aggregate $ 2,000,000 Products - Completed Operations Aggregate $ 2,000,000 Each Occurrence $ 1,000,000 Personal and Advertising Injury Liability $ 1,000,000 Initials: PM Owner Property Managermanager’s Commercial General Liability policy shall (i) be secondary, excess include Real Estate Property Managed Endorsement: CG 22 70 11 85 and non-contributory to Owner’s commercial general liability insurance provided in Section 7(a) of this Agreement, and (ii) an endorsement deleting the contractual liability exclusion contained in the Personal and Advertising Injury Liability coverage (iii) Owned, Hired and Non-Owned Business Automobile liability insurance in an amount no less than $1,000,000 per accident Combined Single Limit for bodily injury and property damage (iv) Property Manager’s Errors & Omissions Insurance in an amount not less than $1,000,000 per loss, aggregate. (v) Employee Theft Insurance in an amount not less than $1,000,000. Employee Theft Insurance policy shall be endorsed to name Owner as a loss payee Additional Insured and to provide coverage for theft of Owner’s money, securities and other property by employees of Property Manager. (vi) Property Insurance coverage for personal property of Property Manager. All coverage shall be provided by insurance companies with a current Best’s Rating of A VIII or higher. At the commencement of the Agreement, Property Manager shall furnish Owner with Certificates of Insurance. All insurance policies shall provide for 30 days’ written notice to Owner prior to the cancellation or any material change to any provisions therein. Certificates of Insurance shall be modified so the words “endeavor to”, “but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives”, and all provisions of similar effect shall be deleted from the certificate form’s cancellation provision. At least ten (10) days prior to the expiration of any such policy, Property Manager will provide to Owner evidence of the renewal or replacement of the aforesaid policies.cancellation

Property Manager’s Insurance. Property Manager shall maintain, at its expense, insurance coverages in (a) During the following amounts: (i) Worker’s Compensation – Coverage A: statutory amount Coverage B: Employer’s Liability insurance: $500,000 Each Accident $500,000 Disease, Policy Limit $500,000 Disease, Each Employee Worker’s Compensation policy shall include a waiver of all rights of subrogation against Owner for injuries sustained by Property Manager’s employees while working at any Property. (ii) Commercial General Liability, on an occurrence basis, including Bodily Injury and Property Damage Liability, Personal and Advertising Injury Liability for the following limits: General Aggregate $ 2,000,000 Products - Completed Operations Aggregate $ 2,000,000 Each Occurrence $ 1,000,000 Personal and Advertising Injury Liability $ 1,000,000 Initials: PM Owner Property Manager’s Commercial General Liability policy shall (i) be secondary, excess and non-contributory to Owner’s commercial general liability insurance provided in Section 7(a) Term of this Agreement, Property Manager shall carry and maintain comprehensive general liability insurance and excess or umbrella liability in amounts satisfactory to Owner and any mortgageholder, including (iii) an endorsement deleting the contractual liability exclusion contained in insurance specifically covering the Personal and Advertising Injury Liability coverage (iii) Owned, Hired and Non-Owned Business Automobile liability insurance in indemnification obligations of Property Manager under this Agreement on an amount no less than $1,000,000 per accident Combined Single Limit “occurrence” basis against claims for bodily injury injury, personal injury, and property damage (iv) Property Manager’s Errors & Omissions Insurance in an amount damage with limits not less than $1,000,000 per lossoccurrence and $2,000,000 general aggregate and (ii) coverage for harassment, aggregate. cyber liability, wrongful eviction, tenant discrimination, and comprehensive fidelity insurance (vincluding depositors forgery) Employee Theft Insurance in an amount on a claims made basis with limits of not less than $1,000,0001,000,000 per claim and $2,000,000 general aggregate liability (collectively, the “Manager’s Liability Insurance”). Employee Theft Insurance policy The Owner and mortgageholder, if any, shall be endorsed named additional insured on the Manager’s Liability Insurance, which shall be primary to name any insurance coverage described in Section 8.01. Property Manager shall provide to Owner as a loss payee written certificate from the carrier reflecting that Manager’s Liability Insurance is effective in accordance with this Section 8.02 and that Manager’s Liability Insurance will not be canceled or modified without at least thirty (30) days prior written notice to provide coverage for theft of Owner’s money, securities Owner and other property by employees of Property Managerany mortgageholder. (vib) Property Insurance Manager shall carry and maintain crime and dishonesty insurance and also carry and maintain errors and omissions insurance, director and officers insurance and employment practices insurance with a minimum of $1,000,000 in coverage. (c) All insurance provided for under this Section 8.02 shall be carried and maintained at Property Manager’s sole expense, effected under valid enforceable policies issued by insurers approved by Owner and licensed to do business in the State where the Property is located. All property, general liability and excess or umbrella liability insurance shall include coverage for personal property acts of Property Managerterrorism. All coverage policies shall comply with the insurance requirements set forth in any mortgage loan. The certificates for the required policies shall be provided delivered by insurance companies with a current Best’s Rating of A VIII Property Manager to Owner, and any mortgageholder within five (5) days after request therefor from any such entity. If requested by Owner, or higher. At the commencement of the Agreementany mortgageholder, Property Manager shall furnish Owner with Certificates of Insurance. All insurance policies shall provide for 30 days’ written notice deliver to Owner prior to satisfactory evidence of payment of the cancellation or any material change to any provisions therein. Certificates of Insurance shall be modified so the words “endeavor to”, “but failure to mail premium on such notice shall impose no obligation or liability of any kind upon the company, its agents or representatives”, and all provisions of similar effect shall be deleted from the certificate form’s cancellation provision. At least ten (10) days policy prior to the expiration date of such policy. To the extent obtainable, all such policies shall contain agreements by the insurers that (i) no act or omission by the party responsible for maintaining such coverage shall impair or affect the rights of an additional insured, mortgagee or loss payee to receive and collect the proceeds under the policies, (ii) such policies shall not be cancelled except upon not less than thirty (30) days prior written notice to each additional insured, and (iii) the coverage afforded thereby shall not be affected by the performance of any such policy, work in or about the Property. (d) Property Manager will provide shall cause to Owner evidence of the renewal or replacement of the aforesaid policiesbe placed and kept in force workers’ compensation insurance in compliance with all applicable federal, state, and local laws and regulations covering all Property Employees.