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9 <br />Per Occurrence Limit:$1,500,000 <br />Aggregate Limit:$2,000,000 <br />This policy is to be written as acceptable to the County. <br />Certificates of Insurance must indicate if the policy is issued on a claims-made or <br />occurrence basis. If coverage is carried on a claims-made basis, then: 1) the <br />retroactive date will be noted on the Certificate and will be prior to or the day of <br />the inception of the Agreement; and 2) evidence of coverage will be provided for <br />three years beyond expiration of the Agreement. <br />5.Property Insurance. Grantee will secure property insurance on a replacement <br />cost, all risk basis for both real and personal property. The policy will include <br />business interruption and extra expense coverages. The County will be added to <br />the policy as lender as its interest may appear. <br />C.Grantee will provide County with prior notice of any lapse in the insurance required <br />under this Agreement including cancellation, and/or non-renewal or material change in <br />coverage. Grantee who is providing services on behalf of the County will notify its <br />insurer that the County is requiring third party notice of mid-term cancellation per <br />Minnesota Statutes § 60A.36, subd. 2a. <br />D.The above sub-paragraphs establish minimum insurance requirements, and it is the sole <br />responsibility of Grantee to purchase and maintain additional coverages as it may deem <br />necessary in connection with this Agreement. <br />E.Certificate of Insurance must indicate if the policy is issued pursuant to these <br />requirements. Grantee will not commence work until the Grantee has obtained the <br />required insurance and filed an acceptable Certificate of Insurance with County. Copies <br />of insurance policies will be submitted to the County upon request. <br />F.Nothing in this Agreement will constitute a waiver by the County of any statutory or <br />common law immunities, limits, or exceptions on liability. <br />G.Certificates will specifically indicate if the policy is written with an admitted or non- <br />admitted carrier. Best’s Rating for the insurer will be noted on the Certificate, and will <br />not be less than an A-. <br />10.TERMINATION. <br />A.This Agreement may be terminated by the County immediately upon the receipt by the <br />County of notice of the loss of funding for activities eligible under ERF. <br />B.This Agreement may be terminated by Grantee upon thirty (30) days written notice <br />should the County fail in its commitment under this Agreement to provide funding, as <br />provided in this Agreement. <br />24