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Law Department Approved 08 -36053 <br />must reflect waiver of subrogation endorsement. Licensee further waives its right of <br />recovery, and its insurers also waive their right of subrogation against Licensor for loss <br />of its owned or leased property or property under its care, custody, or control. <br />Licensee's insurance policies through policy endorsement must include wording which <br />states that policy shall be primary and non contributing with respect to any insurance <br />carried by Licensor. The certificate of insurance must reflect that the above wording is <br />included in evidenced policies. <br />All policy(ies) required above (excluding Workers Compensation and if applicable, <br />Railroad Protective) shall include a severability of interest endorsement and shall name <br />Licensor and Staubach Global Services RR, Inc. as an additional insured with respect <br />to work performed under this agreement. Severability of interest and naming Licensor <br />and Staubach Global Services RR, Inc. as additional insureds shall be indicated on the <br />certificate of insurance. <br />Licensee is not allowed to self insure without the prior written consent of Licensor. If <br />granted by Licensor, any deductible, self- insured retention or other financial <br />responsibility for claims shall be covered directly by Licensee in lieu of insurance. Any <br />and all Licensor liabilities that would otherwise, in accordance with the provisions of this <br />Agreement, be covered by Licensee's insurance will be covered as if Licensee elected <br />not to include a deductible, self insured retention, or other financial responsibility for <br />claims, <br />Prior to commencing the Work, Licensee shall furnish to Licensor an acceptable <br />certificate(s) of insurance including an original signature of the authorized representative <br />evidencing the required coverage, endorsements, and amendments. The policy(ies) <br />shall contain a provision that obligates the insurance company(ies) issuing such <br />policy(ies) to notify Licensor in writing at least 30 days prior to any cancellation, non <br />renewal, substitution or material alteration. This cancellation provision shall be indicated <br />on the certificate of insurance. In the event of a claim or lawsuit involving Railroad <br />arising out of this agreement, Licensee will make available any required policy covering <br />such claim or lawsuit. <br />Any insurance policy shall be written by a reputable insurance company acceptable to <br />Licensor or with a current Best's Guide Rating of A- and Class VII or better, and <br />authorized to do business in the state(s) in which the service is to be provided. <br />Licensee represents that this License has been thoroughly reviewed by Licensee's <br />insurance agent(s) /broker(s), who have been instructed by Licensee to procure the <br />insurance coverage required by this Agreement. Allocated Loss Expense shall be in <br />addition to all policy limits for coverages referenced above. <br />Not more frequently than once every five years, Licensor may reasonably modify the <br />required insurance coverage to reflect then current risk management practices in the <br />railroad industry and underwriting practices in the insurance industry. <br />If any portion of the operation is to be subcontracted by Licensee, Licensee shall require <br />that the subcontractor shall provide and maintain insurance coverages as set forth <br />herein, naming Licensor as an additional insured, and shall require that the <br />10 <br />12 <br />Form 419; Rev. 04/26/05 <br />