Laserfiche WebLink
• <br /> I <br /> Minimum insurance requirements include CGL insurance based on the Insurance Services Office <br /> (ISO)form CG 00 01 or equivalent. Lynch shall obtain insurance coverage with an insurer <br /> admitted and licensed to conduct business in Washington State or with a surplus lines carrier <br /> pursuant to Chapter 48.15 RCW, except that if it is infeasible to obtain coverage with such <br /> insurer,the City may approve an alternative insurer. Minimum limits of liability shall be Two <br /> Million Dollars ($2,000,000) for each occurrence, combined single limit bodily injury and <br /> property damage,with Four Million Dollars ($4,000,000) annual aggregate. The above policy <br /> must be primary and non-contributory as to the City and must name the City, its officers, <br /> employees and agents as additional insureds. Lynch shall provide to the City, or cause to be <br /> provided, certification of insurance coverage on the ACORD form,together with an additional <br /> insured endorsement naming the City of Everett,its officers, employees and agents as additional <br /> insureds, or a blanket additional insured policy that is acceptable to the City Attorney. Lynch <br /> shall deliver such insurance coverage certification to the Director or to such department and <br /> address as the Director may specify,,from time to time, in writing. <br /> If Lynch requires contractors performing construction work in connection with the <br /> Covered Walkway to name Lynch as an additional insured on the contractor's insurance policies, <br /> Lynch shall also require such contractors to name"City of Everett, its officers, employees, and <br /> agents"as additional insureds on a primary basis on such insurance policies. <br /> Section 13. Covered Walkway Performance Bond. Within sixty(60) days after City <br /> Council's adoption of these Ordinance, Lynch shall deliver to the Director for filing with the <br /> City Clerk a performance bond that satisfies the requirements of this Section(the"Performance <br /> Bond"). The Performance Bond shall be in the sum of three hundred thousand dollars <br /> ($300,000.00) executed by a surety company authorized and qualified to do business in the State <br /> of Washington, and conditioned that Lynch will comply with each and every provision of this <br /> Ordinance and with each and every order of the Director pursuant thereto. Lynch shall ensure <br /> that the Performance Bond shall remain in effect until such time as the Covered Walkway is <br /> removed in accordance with this Ordinance or until Lynch is excused by the City as provided in <br /> Section 10 of this Ordinance. <br /> Section 14. Adjustment of Insurance and Bond Requirements. The Director may <br /> from time to time adjust the required limits of insurance under Section 12 and the required <br /> Performance Bond amount under Section 13 if the Director and City Risk Manager deteanine <br /> that an adjustment is necessary to fully protect the interests of the City with respect to risks <br /> 76 <br />