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6.3.1. ENDORSEMENTS <br /> All policies shall contain, or shall be endorsed so that: <br /> A. The City, its officers, officials, boards, commissions, employees and agents are to be <br /> covered as, and have the rights of, additional insureds with respect to liability arising out of <br /> activities performed by, or on behalf of, Grantee under this Franchise or applicable law, or <br /> in the construction, operation, replacement or repair, or ownership of the <br /> Telecommunications Facilities; <br /> B. Grantee's insurance coverage shall be primary insurance with respect to the City,its officers, <br /> officials, boards, commissions, employees, boards, commissions, agents, representatives, <br /> volunteers and agents. Any insurance or self-insurance maintained by the City, its officers, <br /> officials,boards, commissions, employees,representatives, volunteers and agents shall be in <br /> excess of the Grantee's insurance and shall not contribute to it; and <br /> C. Grantee's insurance shall apply separately to each insured against whom a claim is made or <br /> lawsuit is brought, except with respect to the limits of the insurer's liability. <br /> 6.3.2. ACCEPTABILITY OF INSURERS <br /> The insurance obtained by Grantee shall be placed with insurers licensed to do business in the State <br /> of Washington with a Best's rating of no less than "A-VII." <br /> 6.3.3. VERIFICATION OF COVERAGE <br /> The Grantee shall furnish the City with certificates of insurance (ACORD 25-S) and endorsements <br /> (ISO CG 2010) or a copy of the page of the policy reflecting blanket additional insured status. The <br /> certificates and endorsements for each insurance policy are to be signed by a person authorized by <br /> that insurer to bind coverage on its behalf. The City must receive and approve the certificates and <br /> endorsements prior to the commencement by Grantee of activities associated with this Franchise. <br /> The Grantee hereby warrants that its insurance policies satisfy the requirements of this Franchise <br /> and City laws. <br /> 6.4. Financial Assurances <br /> A. No later than the Effective Date of this Franchise, Grantee shall establish and provide to the <br /> City, as security for the faithful performance by Grantee of all of the provisions of this Franchise, an <br /> Assurance in the amount of twenty-five thousand dollars ($25,000.00). <br /> B. An Assurance may be drawn upon by the City for purposes including, but not limited to, the <br /> following: <br /> (1) Failure of Grantee to pay the City sums due under the terms of this Franchise; <br /> 13 of 29 <br />