HomeMy WebLinkAboutExhibit 17Exhibit 0
Insul'ance Requirements
Flagstohe agrees to have Iha following pbllClea of Insurance In effect and wIN provide duly authorized
certificates of Insurance to the Risk Manager for the Cily of Miami to confirm the exlatence of such
policies of Insurance to gain physical access to the parcet(e) of lend owned by the City of Miami located
on Waleon Island which are described in this Agreement. Such pollclee of Insurance are to be in effect no
later than the dale of physical access to such parcels of land by Flagstone, Its contractors and
subcontractors pursuant to this Agreement, except as otherwise noted In this Agreement,
Commercial General Liability subject to limits and endorsements as shown below:
A. Limits of Liability:
Bodily injury and property damage liability each occurrence: $1,000,000
General aggregate limit: 32,000,000
Products/completed operations: $1,000,000
Personal and advarttsing InJury: $1,000,000
B: Endorsements required:
City of Miami Included as additional insured
Employees Included as Insured
Independent contractor's coverage
Waiver of subrogation
Explosion. Collapse and underground hazard
IL Owners Contractors Protective:
A. Limits of Liability:
Bodily InJury and properly damage IIeb}IIIy each occurrence: $1,000,000
Aggregate limit: 82,000,000
B, City of Miami Included as named insured and general contractor as contractor
III, Business Automobile Liability
A. Limlle o1 Liability (')
Bodily Injury and properly damage liability combined single limit
Any auto, including hlred, borrowed, or non -owned autos any one accident: $1,000,000
B. Endorsements required
Clly of Miami Included as an additional Insured
IV. Workers compensation
Limits of liability
Statutory -State of Florida
Waiver of subrogation
V. Employers Liability (')
A. Limits of Liability
$1,000,000 for bodily injury caused by an accident, each accident
$1,000,000 for bodily InJury caused by disease, each employee
$1,000,000 for bodily Injury caused by disease, policy limit
Conilniclion Sloping Final01.03.08
VI. Umbrellafexcess liability
A. Limit of Liability: 31,000,000 per occurrence and 31,000,000 aggregate
B. City of Miami included as an additional Insured.
(') Limits on these policies are acceptable et $600,000 as long as supplemented by Umbrella limit of
S1,000,000
VII. Builders rlak
Where applicable, Flagstone or Its contrector agrees to obtain a builders risk Insurance policy
(comparable to that described In Section 11.1(b) of the Ground Lease), prior to the commencement
of construction of certain structures commonly subject to builders risk Ineurance including but not
limited to site administration building and sales center building,
The above pollcres shall provide the City of Miami with written notice of cancellation or material change
from the Insurer not less than (30) days prior 10 any such cancellation or materiel change.
Companies authorized to do businees in the State of Florida with the following qualifications, shall Issue
ail insurance policies required above:
The company must be rated no less than "A-' as to management and no less than Class Vas fo financial
strength by the latest edlllon of Best's Insurance Guide, published by A. M. Bests Company, Oldwlck,
New Jersey, or its equivalent. All policies and/or cerIIfl aces of Insurance are subject to review and
verification by Risk Management prior to Insurance approval,
Notwithstanding the foregoing, Flagstone may cause Its independent contractors to provide some or all of
the foregoing Insurance coverages, and to the extent that such Independent contractors carry such
coverages, Flagstone shalt not be required to carry such coverages, so long as the coverages obtained
by Flagstone and such Independent contractors together satisfy the requirements of this Agreement
Construction Sloping Final 01.07.06