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Any deductibles or self-insured retentions must be declared to the City. The deductible <br /> and/or self-insured retention of the policies shall not apply to the Agency's liability to <br /> the City and shall be the sole responsibility of the Agency. <br /> 8. Other Insurance Provisions <br /> The insurance policies required in this Loan Agreement are to contain, or be endorsed <br /> to contain, the following provisions: <br /> a. All Liability Policies except Professional and Workers Compensation <br /> 1) The City, its officers, officials, employees, and agents are to be covered as <br /> Additional Insureds as respects liability arising out of activities performed by or <br /> on behalf of the Agency/Contractor in connection with this Agreement. Such <br /> coverage shall include Products-Completed Operations. <br /> 2) To the extent of the Agency's/Contractor's negligence, the Agency's/ <br /> Contractor's insurance coverage shall be primary insurance as respects the <br /> City, its officers, officials, employees, and agents. Any insurance and/or self- <br /> insurance maintained by the City, its officers, officials, employees, or agents <br /> shall not contribute with the Agency's insurance or benefit the Agency in any <br /> way. <br /> 3) The Agency's insurance shall apply separately to each insured against whom <br /> claim is made and/or lawsuit is brought, except with respect to the limits of the <br /> insurer's liability. <br /> b. Property Coverage Policies <br /> 1) The City shall be added to all Property Coverage Policies as a loss payee as <br /> its interests may appear. <br /> 2) The City shall be added as a Named Insured as their interests may appear to <br /> all Builders Risk policies. <br /> c. All Policies <br /> Coverage shall not be suspended, voided, canceled, reduced in coverage or in <br /> limits, except by the reduction of the applicable aggregate limit by claims paid, until <br /> after 45 days prior written notice has been given to the City. <br /> 9. Acceptability of Insurers <br /> Unless otherwise approved by the City, insurance is to be placed with insurers with a <br /> Bests' rating of no less than A: VIII, or, if not rated with Bests, with minimum surpluses <br /> the equivalent of Bests' surplus size VIII. <br /> Professional Liability, Errors, and Omissions insurance may be placed with insurers <br /> with a Bests' rating of B+VII. Any exception must be approved by the City. <br /> Loan Agreement <br /> Cocoon House <br /> Page 34 of 51 <br />