BANK
MUST BE FURNISHED WITH A COPY OF THE CERTIFICATE FROM THE STATE PERMITTING
SELF-INSURANCE AND EVIDENCE OF A STOP LOSS EXCESS WORKERS COMPENSATION POLICY
WITH A SPECIFIC RETENTION OF NO GREATER THAN FIVE HUNDRED THOUSAND DOLLARS
($500,000.00) THEREAFTER.
(I)
UMBRELLA LIABILITY.
AN UMBRELLA LIABILITY
POLICY MUST BE PURCHASED WITH A LIMIT OF NOT LESS THAN SEVENTY-FIVE MILLION
DOLLARS ($75,000,000.00) PROVIDING EXCESS COVERAGE OVER ALL LIMITS AND COVERAGES
INDICATED IN PARAGRAPHS A THROUGH G ABOVE.
THE LIMITS CAN BE OBTAINED BY A
COMBINATION OF PRIMARY AND EXCESS UMBRELLA POLICIES, PROVIDED THAT ALL LAYERS
FOLLOW FORM WITH THE UNDERLYING POLICIES INDICATED IN F, G AND H AND ARE WRITTEN
ON AN "OCCURRENCE" FORM.
THIS POLICY, OR THE UNDERLYING POLICY OR POLICIES TO
WHICH THE UMBRELLA LIABILITY POLICY PERTAINS, SHALL BE ENDORSED TO INCLUDE THE
AGENT BANK AS AN ADDITIONAL INSURED ON BEHALF OF THE BANKS.
(J)
IF BORROWER'S GENERAL LIABILITY AND
AUTOMOBILE POLICIES INCLUDE A SELF-INSURED RETENTION, IT IS AGREED AND FULLY
UNDERSTOOD THAT BORROWER IS SOLELY RESPONSIBLE FOR PAYMENT OF ALL AMOUNTS DUE
WITHIN SAID SELF-INSURED RETENTIONS.
ANY INDEMNIFICATION/HOLD HARMLESS
PROVISION IS EXTENDED TO COVER ALL LIABILITIES ASSOCIATED WITH SAID SELF-INSURED
RETENTIONS.
(K)
ALL POLICIES INDICATED ABOVE SHALL BE WRITTEN
WITH INSURANCE COMPANIES LICENSED AND ADMITTED TO DO BUSINESS IN THE STATE OF
NEVADA AND RATED NO LOWER THAN "A X" IN THE MOST RECENT ADDITION OF A.M. BEST
AND/OR "AA" IN THE MOST RECENT EDITION OF STANDARD & POOR'S, OR SUCH OTHER
CARRIER REASONABLY ACCEPTABLE TO AGENT BANK.
ALL POLICIES DISCUSSED ABOVE SHALL
BE ENDORSED TO PROVIDE THAT IN THE EVENT OF A
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CANCELLATION, NON-RENEWAL OR MATERIAL MODIFICATION, AGENT BANK SHALL RECEIVE
THIRTY (30) DAYS PRIOR WRITTEN NOTICE THEREOF.
THE BORROWER SHALL FURNISH AGENT
BANK WITH CERTIFICATES OF INSURANCE EXECUTED BY AN AUTHORIZED AGENT EVIDENCING
COMPLIANCE WITH ALL INSURANCE PROVISIONS DISCUSSED ABOVE ON AN ANNUAL BASIS.
CERTIFICATES OF INSURANCE EXECUTED BY AN AUTHORIZED AGENT OF EACH CARRIER
PROVIDING INSURANCE EVIDENCING CONTINUATION OF ALL COVERAGES WILL BE PROVIDED ON
THE RESTATEMENT EFFECTIVE DATE AND ANNUALLY ON OR BEFORE TEN (10) DAYS PRIOR TO
THE EXPIRATION OF EACH POLICY.
THE BORROWER SHALL ALSO FURNISH A COPY OF THE
DECLARATION PAGE OF EACH POLICY REQUIRED BY THIS SECTION AND THE ACTUAL POLICY
ENDORSEMENTS EVIDENCING THE AGENT BANK'S STATUS AS MORTGAGEE/LOSS PAYEE
(PROPERTY COVERAGE) AND ADDITIONAL INSURED (GENERAL LIABILITY COVERAGE) AS
REQUIRED.
ALL CERTIFICATES AND OTHER NOTICES RELATED TO THE INSURANCE PROGRAM
SHALL BE DELIVERED TO AGENT BANK CONCURRENTLY WITH THE DELIVERY OF SUCH
CERTIFICATES OR NOTICES TO SUCH CARRIER OR TO BORROWER AS APPLICABLE.
(L)
ANY OTHER INSURANCE REASONABLY REQUESTED
BY AGENT BANK OR REQUISITE LENDERS IN SUCH AMOUNT AND COVERING SUCH RISKS AS MAY
BE REASONABLY REQUESTED.
APPROVAL OF ANY INSURANCE BY THE AGENT BANK SHALL NOT
BE A REPRESENTATION OF THE SOLVENCY OF ANY INSURER OR THE SUFFICIENCY OF ANY
COVERAGE REQUIRED UNDER THIS CREDIT AGREEMENT.
ALL REQUIREMENTS SET FORTH IN
THIS SECTION ARE CONSIDERED MINIMUMS IN TERMS OF THE PURCHASE AND MAINTENANCE OF
INSURANCE UNDER THIS CREDIT AGREEMENT.