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10.4.3.4.5 Broad Form Contractual Coverage applicable to the <br />Contract and specifically confirming the <br />indemnification and hold harmless agreement in this <br />Contract; and <br />10.4.3.4.6 Personal Injury coverage with employment <br />contractual exclusions removed and deleted. <br />10.4.3.4.7 Explosion, collapse, underground coverage (XC -U) <br />10.4.3.5 Builder's Risk Insurance in an amount not less than THE <br />REPLACEMENT COST for the construction of the work. Coverage shall be "All Risk" coverage <br />for one hundred percent (100 %) of the completed value with a deductible of not more than five <br />thousand and 00 /100 dollars ($5,000.00) per claim. <br />10.4.4 CONTRACTOR shall maintain the Products/Completed Operations Liability <br />Insurance for a period of at least three (3) years after final payment for the Work and furnish CITY <br />with evidence of continuation of such insurance at final payment. <br />10.4.5 The required insurance coverage shall be issued by an insurance company authorized <br />and licensed to do business in the State of Florida, with the following minimum rating of B+ to A +, <br />in accordance with the latest edition of A.M. Best's Insurance Guide. <br />10.4.6 All required insurance policies shall preclude any underwriter's rights of recovery or <br />subrogation against CITY with the express intention of the parties being that the required insurance <br />coverage protects both parties as the primary coverage for any and all losses covered by the above <br />described insurance. <br />10.4.7 The CONTRACTOR shall ensure that any company issuing insurance to cover the <br />requirements contained in this Contract agrees that they shall have no recourse against CITY for <br />payment or assessments in any form on any policy of insurance. <br />10.4.8 The clauses "Other Insurance Provisions" and "Insurers Duties in the Event of an <br />Occurrence, Claim or Suit" as it appears in any policy of insurance in which CITY is named as an <br />additional named insured shall not apply to CITY. CITY shall provide written notice of occurrence <br />within fifteen (15) working days of CITY's actual notice of such an event. <br />10.4.9 The CONTRACTOR shall not commence performance of its obligations under this <br />Agreement until after it has obtained all of the minimum insurance herein described and the same has <br />been approved. <br />10.4.10 All required insurance policies shall preclude any underwriter's rights of recovery or <br />subrogation against CITY with the express intention of the parties being that the required insurance <br />coverages protect both parties as the primary coverages for any and all losses covered by the above <br />described insurance. <br />22 <br />