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GeoTest Services Inc 9/12/2019
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6 Years Then Destroy
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GeoTest Services Inc 9/12/2019
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Entry Properties
Last modified
9/13/2019 10:12:48 AM
Creation date
9/13/2019 10:12:28 AM
Metadata
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Contracts
Contractor's Name
GeoTest Services Inc
Approval Date
9/12/2019
End Date
4/30/2020
Department
Facilities
Department Project Manager
Ruben Sanchez
Subject / Project Title
Everpark Garage Structural Repairs Project
Tracking Number
0001993
Total Compensation
$23,396.00
Contract Type
Agreement
Contract Subtype
Professional Services
Retention Period
6 Years Then Destroy
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2. We will not pay for loss or damage: <br /> a. Resulting from any dishonest or criminal act that you or any of your partners, members, officers, "managers," <br /> directors,trustees,authorized representatives or anyone to whom you entrust the property for any purpose commit, <br /> whether acting alone or in collusion with other persons; or <br /> b. The only proof of which as to its existence or amount is one or both of the following: <br /> (1) An inventory computation; or <br /> (2) A profit and loss computation. <br /> 3. The most we will pay under this Additional Coverage for loss or damage in any one occurrence is$10,000. <br /> 4. All loss or damage: <br /> a. Caused by one or more"employees"; and <br /> b. Involving a single act or series of related acts; <br /> is considered one occurrence. <br /> 5. We will pay only for loss or damage you sustain through acts committed or events occurring during the policy period. <br /> Regardless of the number of years this policy remains in force or the number of premiums paid, no Limit of Insurance <br /> cumulates from year to year or period to period. <br /> 6. This Additional Coverage does not apply to loss caused by an "employee" after discovery by: <br /> a. You; or <br /> b. Any of your partners, officers or directors, or members or"managers" not in collusion with the"employee"; <br /> of any"theft" or any other dishonest act committed by that"employee" before or after being hired by you. <br /> 7. Extended Period To Discover Loss <br /> a. We will pay for loss that you sustained prior to the effective date of termination or cancellation of this policy,which is <br /> discovered by you no later than 1 year from the date of that termination or cancellation. <br /> b. However, this extended period to discover loss terminates immediately upon the effective date of any other <br /> insurance obtained by you replacing in whole or in part the insurance afforded by this policy, whether or not such <br /> other insurance provides coverage for loss sustained prior to its effective date. <br /> 8. If you discover a loss or damage during the policy period that you (or any predecessor in interest)sustained during the <br /> period of any prior insurance that you could have recovered under that insurance except that the time within which to <br /> discover loss or damage had expired, we will pay for it under this Additional Coverage, provided: <br /> a. This Additional Coverage became effective at the time of cancellation or termination of the prior insurance; and <br /> b. The loss or damage would have been covered by this Additional Coverage had it been in effect when the acts or <br /> events causing the loss or damage were committed or occurred. <br /> 9. The insurance under Paragraph 8.above is provided within,and not in addition to,the Limit of Insurance applying to this <br /> Additional Coverage and is limited to the lesser of the amount recoverable under: <br /> a. This Additional Coverage as of its effective date; or <br /> b. The prior insurance, had it remained in effect. <br /> 10. None of the exclusions in Section B.Exclusions of the CAUSES OF LOSS—SPECIAL FORM apply to Employee Theft <br /> Coverage provided under this endorsement except: <br /> a. B.1.c. Governmental Action; <br /> b. B.1.d. Nuclear Hazard; and <br /> c. B.1.f. War And Military Action. <br /> 11. We will not pay for loss as specified below: <br /> a. Acts Committed by You or Your Partners <br /> Loss resulting from any dishonest or criminal act committed by your or any of your partners whether acting alone or <br /> in collusion with other persons. <br /> b. Indirect Loss <br /> Loss that is an indirect result of any act or occurrence covered by this insurance including, but not limited to, loss <br /> resulting from: <br /> (1) Your inability to realize income that you would have realized had there been no loss of, or loss from damage to <br /> "money"and "securities". <br /> (2) Payment of damages of any type for which you are legally liable. But, we will pay compensatory damages <br /> arising directly from a loss covered under this Additional Coverage. <br /> MP 97 67 10 10 Includes copyrighted material of Insurance Services Office, Inc.and Page 9 of 25 <br /> American Association of Insurance Services,Inc.,with their permission <br />
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