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Tracking#10-41274 <br /> License, be covered by Licensee's insurance will be covered as if Licensee elected not <br /> to include a deductible, self-insured retention, or other financial responsibility for claims. <br /> Prior to commencing any work, Licensee shall furnish to Licensor an acceptable <br /> certificate(s) of insurance including an original signature of the authorized representative <br /> evidencing the required coverage, endorsements, and amendments. The policy(ies) <br /> shall contain a provision that obligates the insurance company(ies) issuing such <br /> policy(ies) to notify Licensor in writing at least 30 days prior to any cancellation, non- <br /> renewal, substitution or material alteration. This cancellation provision shall be indicated <br /> on the certificate of insurance. In the event of a claim or lawsuit involving Licensor <br /> arising out of this License, Licensee will make available any required policy covering <br /> such claim or lawsuit. <br /> Any insurance policy shall be written by a reputable insurance company acceptable to <br /> Licensor or with a current Best's Guide Rating of A- and Class VII or better, and <br /> authorized to do business in the state(s) in which the service is to be provided. <br /> If coverage is purchased on a "claims made" basis, Licensee hereby agrees to maintain <br /> coverage in force for a minimum of three years after expiration, cancellation or <br /> termination of this contract. Annually, Licensee agrees to provide evidence of such <br /> coverage as required hereunder. <br /> Licensee represents that this License has been thoroughly reviewed by Licensee's <br /> insurance agent(s)/broker(s), who have been instructed by Licensee to procure the <br /> insurance coverage required by this License. Allocated Loss Expense shall be in <br /> addition to all policy limits for coverages referenced above. <br /> Not more frequently than once every five years, Licensor may reasonably modify the <br /> required insurance coverage to reflect then-current risk management practices in the <br /> railroad industry and underwriting practices in the insurance industry. <br /> If any portion of the operation is to be subcontracted by Licensee, Licensee shall require <br /> that the subcontractor shall provide and maintain insurance coverages as set forth <br /> herein, naming Licensor as an additional insured, and shall require that the <br /> subcontractor shall release, defend and indemnify Licensor to the same extent and <br /> under the same terms and conditions as Licensee is required to release, defend and <br /> indemnify Licensor herein. <br /> Failure to provide evidence as required by this Section 21 shall entitle, but not require, <br /> Licensor to terminate this License immediately. Acceptance of a certificate that does not <br /> comply with this section shall not operate as a waiver of Licensee's obligations <br /> hereunder. <br /> The fact that insurance (including, without limitation, self-insurance) is obtained by <br /> Licensee shall not be deemed to release or diminish the liability of Licensee including, <br /> without limitation, liability under the indemnity provisions of this License. Damages <br /> recoverable by Licensor shall not be limited by the amount of the required insurance <br /> coverage. <br /> Form 424;Rev.04/26/05 <br /> -1gi <br />