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1.The GRANTEE shall maintain property insurance for rolling stock, equipment, facilities, <br />and/or infrastructure adequate to cover the value of the Project; the GRANTEE shall <br />supply a copy of the Certificate of Insurance specifying such coverage to WSDOT with <br />the first request for reimbursement, and supply proof of renewal annually thereafter; or <br />2.The GRANTEE shall certify that it has self-insurance and provide a written certificate <br />of self-insurance to WSDOT with the first request for claim reimbursement, and <br />annually thereafter. The GRANTEE will cover from its own resources the costs of <br />repairing or replacing any Project facilities, associated equipment, and/or infrastructure <br />if it is stolen, damaged, or destroyed in any manner. <br />C.If the damage to the Project does not result in a total loss, payments for damage shall be <br />paid directly to the GRANTEE. The GRANTEE shall, within thirty (30) days, either: <br />1.Devote all the insurance proceeds received to repair the Project and place it back in <br />service, and the GRANTEE shall, at its own expense, pay any portion of the cost of <br />repair which is not covered by insurance; or <br />2.In the event the GRANTEE is certified to self-insurance, devote all funds necessary to <br />repair the Project and place it back into service. <br />D.If the Project is a total loss the insurance proceeds or equivalent shall be paid directly to <br />the GRANTEE, and within fifteen (15) days the GRANTEE shall pay WSDOT its <br />proportionate funded share of such proceeds received. The GRANTEE shall within sixty <br />(60) days of loss, theft, or damage, notify WSDOT that it either: <br />1.Intends to replace the lost rolling stock, equipment, fac ilities, and/or infrastructure; or <br />2.Does not intend to replace the lost rolling stock, equipment, facilities, and/or infrastructure. <br />In this case, WSDOT will require the GRANTEE to reimburse WSDOT for the <br />proportional Federal and/or State funded share of the insurance proceeds. <br />E.Coverage, if obtained or provided by the GRANTEE in compliance with this section, shall <br />not be deemed as having relieved the GRANTEE of any liability in excess of such coverage <br />as required by the limitation of liability section of this AGREEMENT, or otherwise. <br />Section 26 <br />Liens on the Project <br />A.This provision shall survive termination of this AGREEMENT. <br />B.WSDOT will maintain a copy of vehicle registrations for all funded vehicles under this <br />agreement and oversight responsibility on those vehicles through their minimum useful <br />life. The GRANTEE agrees that it shall not use Project Assets or any portion thereof as <br />collateral, nor shall the GRANTEE encumber the Project in any way without the consent <br />of WSDOT. If the GRANTEE determines to discontinue the use of any Project Asset <br />before the end of its minimum useful life, it shall consult with WSDOT as to appropriate <br />disposition alternatives, including transferring the use of the Project Asset to another <br />agency for purposes consistent with the original grant award or reimbursing WSDOT for <br />its proportional grant funded share of the disposal price. The GRANTEE shall follow the <br />terms stated in Sections 15 and 16 regarding the use and disposal of the Project and/or <br />any portion thereof. <br />Everett Transit <br />PTD1163 <br />14 of 25