§ 7. Insurance  


Latest version.
  • The Grantee shall and covenants and agrees that it will, throughout the life of this franchise, at its sole cost and expense, maintain all necessary insurance for the skywalk bridge vertical access facilities and the corridors located within the facilities owned or operated by the Grantee, in accordance with Grantee's customary insurance practices and shall specifically, prior to or concurrently with the start of commencement of construction, obtain general accident and comprehensive general liability insurance in an amount not less than maximum liability of a governmental entity for claims arising out of single occurrences provided by the Kansas Tort Claims Act or other similar future Kansas law (currently $500,000 per occurrence). The City shall be named as an additional insured under said policies as its interest may appear and such policies shall properly protect and indemnity the City in amounts not less than aforesaid. The policy of said insurance shall contain a provision that such insurance may not be canceled by the issuer thereof without at least thirty (30) days advance written notice to City and Grantee. Such policies or copies or certificates thereof shall be furnished to the City. For purposes of this franchise, policies of insurance shall be defined to be the insurance contract issued by a nationally recognized responsible insurance company qualified under the laws of the state of Kansas to assume the risks covered therein. Each policy of insurance herein above referred to may be subject to a reasonable deductible amount in an amount not to exceed $10,000.00 per occurrence. Anything in this franchise to the contrary notwithstanding, Grantee shall be liable to City pursuant to the provisions of this franchise or otherwise, as to any loss or damage to the City which may have been caused by the Grantee, its agents, employees, or contractors.