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9. Insurance. <br /> (a) Grantee will procure and maintain and will cause its consultants, contractors and <br /> subcontractors to procure and maintain in force during the Term the insurance coverages <br /> described below, which insurance will be placed with insurance companies rated A VIII or <br /> better by the current edition of Best's Key Rating Guide, authorized to do business in the <br /> state in which Grantor's Property is located, and approved in advance in writing by Grantor. <br /> (i) Commercial General Liability Insurance (with coverage and terms comparable <br /> to an ISO CG-0001 form) against all claims and suits for personal and bodily injury, products <br /> and completed operations liability, and property damage arising out of Grantee's Work or <br /> operation on or use of Grantor's Property, or caused by the negligence or other misconduct of <br /> Grantee or Grantee's Parties in an amount not less than $5,000,000.00 per occurrence and <br /> $5,000,000.00 in the general aggregate. <br /> (ii) Workers' Compensation Insurance, with statutory benefits and limits <br /> compliant with applicable state law, and Employer's Liability Insurance with limits of <br /> $1,000,000.00 per accident covering Grantee and Grantee's employees. <br /> (iii) Business Automobile Liability Insurance, including owned, non-owned, and <br /> hired vehicles, with have coverage of not less than $1,000,000.00 for bodily injury and <br /> property damage for each accident. <br /> (iv)Any insurance coverage required by law, /or governmental agency, and/or any <br /> agreements of record affecting Grantor's Property with respect to the performance of <br /> Grantee's Work. <br /> (b) As to the policies identified in Section 9(a) above, Grantor, McDonald's, Barbara <br /> and Ed Johnson (the McDonald's restaurant store owner/operator), and their respective <br /> successors and assigns, as well as any other person or entity designated by Grantor, will be <br /> named as additional insureds as their interests may appear. These policies will be primary <br /> insurance for all additional insureds.All policies will be endorsed to provide a waiver of rights <br /> of subrogation in favor of the additional insureds. Before commencing Grantee's Work or <br /> entering upon the Construction Easement Area, Grantee will furnish evidence to Grantor of <br /> the required insurance in the form of certificates of insurance. <br /> (c) Grantee will neither allow the required insurance coverages to lapse, nor decrease <br /> the insurance coverage to levels below those required under this Section 9. <br /> (d) In lieu of the insurance required under this Section 9, the Grantee may provide <br /> Grantor with a certification from Grantee's risk manager, certifying that the Grantee's self- <br /> insurance program,which includes a$1.24M self-insured retention and excess layers totaling <br /> $30M, will provide the coverages required under this Section 9. <br /> 10. Default. If there is a failure by Grantee to perform, fulfill or observe any agreement <br /> or obligation contained within this Agreement, to be performed, fulfilled or observed by it <br /> which failure is not cured within 15 days after notice from Grantor, or immediately after <br /> notice from Grantor,in situations involving potential danger to the health or safety of persons <br /> in, on or about the Construction Easement Area or Grantor's Property, or substantial <br /> Document#1746709v3 <br /> -4- <br />