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R2001-230 AUTHORIZING EXECUTION OF LEASE
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R2001-230 AUTHORIZING EXECUTION OF LEASE
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1/21/2016 10:01:37 AM
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1/21/2016 10:01:36 AM
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Resolution/Ordinance
Res Ord Num
R2001-230
Res Ord Title
AUTHORIZING EXECUTION OF LEASE - ARCHER-DANIELS-MIDLAND COMPANY
Approved Date
12/17/2001
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8. ADM shall obtain at its expense and keep in place during the term of this Lease <br /> comprehensive general liability and property damage insurance in an amount of not less than <br /> $1,000,000 single limit, $2,000,000 aggregate, for bodily injury, death and property damage <br /> to any one person and subject to the same limitations for any one occurrence. The <br /> comprehensive general liability policy shall include coverage for premises and operations, a <br /> blanket contractual liability coverage that includes the indemnification clause contained in <br /> Paragraph 8, broad form property damage, independent contractors and personal injury <br /> liability coverage. The policy issued for the above-described coverages shall name the City as <br /> additional insured. Such insurance shall not be canceled prior to the termination of this Lease. <br /> 9. Prior to the commencement of the term of this Lease, ADM shall file with the City, <br /> and at all times thereafter during the term of this Lease keep in full force and effect, proof of <br /> insurance, in a form acceptable to the City, signed by an authorized agent of ADM or its <br /> insurance company or companies writing the insurance, showing complete coverage of all <br /> insurance required in Paragraph 9. Such proof shall show the following where applicable: <br /> Name and address of party insured; name(s) of the insurance company or companies; name <br /> and address of authorized agent executing any Certificate of Insurance; description of that <br /> type of insurance, the coverage afforded thereunder; the insurance policy numbers; the limits <br /> of liability of such pclicies and the date of expiration of such policies. Further, ADM shall <br /> not modify, cancel or terminate coverage until after no less than 30 days written notice to the <br /> City. The proof of insurance shall specifically state that (1) the insurance certified therein <br /> contains contractual liability coverage for the indemnity Lease contained in this Lease, subject <br /> to the terms, conditions and exclusions of the policy, and (2) the City is named as an <br /> additional insured on the comprehensive general liability and property damage insurance <br />
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