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policies, which coverage will apply to each insured to the full extent provided <br /> by the terms and conditions of the policy(s). Nothing contained in this <br /> provision shall affect and/or alter the application of any other provision <br /> contained within this Loan Agreement. <br /> 2. Risk Assessment by Agency <br /> By requiring such minimum insurance, the City shall not be deemed or <br /> construed to have assessed the risks that may be applicable to the Agency <br /> under this Agreement, nor shall such minimum limits be construed to limit the <br /> limits available under any insurance coverage obtained by the Agency. The <br /> Agency shall assess its own risks and, if it deems appropriate and/or prudent, <br /> maintain greater limits and/or broader coverage. <br /> 3. Minimum Scope of Insurance <br /> Coverage shall be at least as broad as the following: <br /> a. General Liability: Insurance Services Office form number (CG 00 01) <br /> covering COMMERCIAL GENERAL LIABILITY. <br /> b. Professional Liability, Errors and Omissions Coverage: In the event that <br /> services delivered pursuant to this Agreement either directly or indirectly <br /> involve or require professional services, Professional Liability, Errors and <br /> Omissions coverage shall be provided. "Professional Services", for the <br /> purpose of this Loan Agreement section, shall mean any services <br /> provided by a licensed professional or those services that require a <br /> professional standard of care. <br /> c. Automobile Liability: Insurance Services Office form number (CA 00 01) <br /> covering BUSINESS AUTO COVERAGE, symbol 1 "any auto"; or the <br /> appropriate coverage provided by symbols 2, 7, 8, or 9. <br /> d. Workers' Compensation: Workers' Compensation coverage, as required <br /> by the Industrial Insurance Act of the State of Washington, as well as any <br /> similar coverage required for this work by applicable federal or "Other <br /> States" state law. <br /> e. Stop Gap/Employers Liability: Coverage shall be at least as broad as the <br /> protection provided by the Workers' Compensation policy Part 2 <br /> (Employers Liability) or, in states with monopolistic state funds, the <br /> protection provided by the "Stop Gap" endorsement to the general liability <br /> policy. <br /> f. Property Insurance: Insurance Services Office form number (CP 00 10) <br /> covering BUILDING AND PERSONAL PROPERTY COVERAGE and <br /> Amended HOME Loan Agreement <br /> Housing Hope's Kennedy Court Improvement Project <br /> Page 36 of 53 <br />