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11-Move to approve a resolution authorizing the execution of a lease with the City of Paris and Union Pacific Railroad Co.
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11-Move to approve a resolution authorizing the execution of a lease with the City of Paris and Union Pacific Railroad Co.
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CITY CLERK
Doc Name
11
Doc Type
Agenda
CITY CLERK - Date
4/26/2010
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D. Pollution Liabilitv insurance. If permitted use as defined in this Lease inclu <br />handling, enrichment, storage, manufacture, or production of hazardous materiah <br />insurance is required. Pollution liability coverage must be written on ISO form <br />Coverage Form Designated Sites CG 00 39 12 04 (or a substitute form providing <br />coverage), with limits of at least $5,000,000 per occurrence and an aggregate limit of g <br />If hazardous materials are disposed of from the Premises, Lessee must furnish to <br />pollution legal liability insurance maintained by the disposal site operator for los; <br />insured facility accepting the materials, with coverage in minimum amounts of $1,0 <br />an annual aggregate of $2,000,000. <br />E. Umbrella or Excess insurance. If Lessee utilizes umbrella or excess polici <br />"follow form" and afford no less coverage than the primary policy. <br />Other Requirements <br />F. All policy(ies) required above must include Lessor as "Additional Insured" u, <br />lnsured Endorsement CG 20 11 (or a substitute form providing equivalent cover <br />provided to Lessor as additional insured shall, to the extent provided under ISO <br />Endorsement CG 20 11, provide coverage for Lessor's negligence whether sole <br />passive, and shall not be limited by Lessee's liability under the indemnity provisions o. <br />G. Lessee waives all rights against Lessor and its agents, officers, directors and eml <br />of damages to the extent these damages are covered by the workers compensation and <br />or commercial umbrella or excess liability insurance obtained by Lessee required by tl <br />H. Punitive damages exclusion, if any, must be deleted (and the deletion indicai <br />of insurance), unless (a) insurance coverage may not lawfully be obtained for any pi <br />may arise under this Lease, or (b) all punitive damages are prohibited by all states in <br />are located. <br />ies any <br />eneration, <br />polluti <br />liability <br />Pollutio <br />Liability <br />equival <br />t liability <br />10,000, <br />0. <br />.essor e <br />idence of <br />;s arisin <br />from the <br />D,000 p <br />loss, and <br />these poaicies must <br />; ISO dditional <br />Th coverage <br />lditio 1 Insured <br />oartia active or <br />oyeest <br />recovery <br />mploye <br />s' liability <br />s agree <br />ent. <br />on the <br />rtificate <br />ive d <br />ges that <br />~ich the <br />remises <br />1. Prior to execution of this Lease, Lessee shall furnish Lessor with a certific te(s) o insurance, <br />executed by a duly authorized representative of each insurer, showing compliance with th insurance <br />requirements in this Lease. <br />J. All insurance policies must be written by a reputable insurance company acc ptable t Lessor or <br />with a current Best's Insurance Guide Rating of A- and Class VII or better, and autho ized to business <br />in the state where the Premises are located. <br />K The fact that insurance is obtained by Lessee, or by Lessor on behalf of Lessel <br />to release or diminish the liability of Lessee, including, without limitation, liability <br />provisions of this Lease. Damages recoverable by Lessor from Lessee or any th <br />limited by the amount of the required insurance coverage. <br />will not Ibe deemed <br />party ~ill not be <br />97 <br />
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