Ordinance 3557-17 - Laserfiche WebLink

admitted and licensed to conduct business in Washington State or with a surplus lines carrier pursuant to Chapter 48.15 RCW, except that if it is infeasible to obtain coverage with such insurer,the City may approve an alternative insurer. Minimum limits of liability shall be Two Million Dollars ($2,000,000) for each occurrence, combined single limit bodily injury and property damage, with Four Million Dollars ($4,000,000) annual aggregate. The above policy must be primary and non-contributory as to the City and must name the City, its officers, employees and agents as additional insureds. PGB shall provide to the City, or cause to be provided, certification of insurance coverage on the ACORD form, together with an additional insured endorsement naming the City of Everett, its officers, employees and agents as additional insureds, or a blanket additional insured policy that is acceptable to the City Attorney. PGB shall deliver such insurance coverage certification to the Director or to such department and address as the Director may specify, from time to time, in writing. If PGB requires contractors performing construction work in connection with the Covered Walkway to name PGB as an additional insured on the contractor's insurance policies, PGB shall also require such contractors to name"City of Everett, its officers, employees, and agents" as additional insureds on a primary basis on such insurance policies. Section 13. Covered Walkway Performance Bond. Within sixty(60) days after City Council's adoption of these Ordinance, PGB shall deliver to the Director for filing with the City Clerk a performance bond that satisfies the requirements of this Section(the "Performance Bond"). The Performance Bond shall be in the sum of three hundred thousand dollars ($300,000.00) executed by a surety company authorized and qualified to do business in the State of Washington, and conditioned that PGB will comply with each and every provision of this Ordinance and with each and every order of the Director pursuant thereto. PGB shall ensure that the Performance Bond shall remain in effect until such time as the Covered Walkway is removed in accordance with this Ordinance or until PGB is excused by the City as provided in Section 10 of this Ordinance. Section 14. Adjustment of Insurance and Bond Requirements. The Director may from time to time adjust the required limits of insurance under Section 12 and the required Performance Bond amount under Section 13 if the Director and City Risk Manager determine that an adjustment is necessary to fully protect the interests of the City with respect to risks arising from PGB's construction and use of the Covered Walkway. The Director shall notify 6