C153314 Transfer

• Contract/PO #: C153314
• Contractor Name: Town of Parachute
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

■III P1M i 11l1 t 101111'1na4CirtIN 11111
Reception#: 783697
03/24/2010 11:52:32 AM Jean Alberico
4 of 7 Rec Fee:$36.00 Doc Fee:0.00 GARFIELD COUNTY CO
needs requiring the termination of this lease. Upon termination of this lease, the parties hereto shall be
released of all responsibilities and obligations as set forth herein.
12. This Lease Agreement shall be binding upon and inure to the benefit of the parties
hereto, their successors and assigns.
13. HOLD HARMLESS: The Lessee shall save, indemnify and hold harmless the Lessor and
FHWA for any liability for damage or loss to persons or property resulting from Lessee's occupancy or
use of the Premises.
14. INSURANCE: (Revised 2006 per State Controller Requirements)
(a) The Lessee shall obtain and maintain, at all times during the duration of this Lease,
insurance in the kinds and amounts detailed below. The Lessee shall require any Contractor working for
them on the Premises to obtain like coverage. The following insurance requirements must be in effect
during the entire term of the Lease. Lessee shall, at it sole cost and expense, obtain insurance on its
inventory, equipment and all other personal property located on the Premises against loss resulting from
fire, theft or other casualty.
(b) Workers' Compensation Insurance as required by state statute, and Employer's Liability
Insurance covering all employees acting within the course and scope of their employment and work on
the activities authorized by this Lease in Paragraph 4.
(c) Commercial General Liability Insurance written on ISO occurrence form CG 00 01 10/93
or equivalent, covering Premises operations, fire damage, independent Consultants, blanket contractual
liability, personal injury, and advertising liability with minimum limits as follows:
1. $1,000,000 each occurrence;
2. $2,000,000 general aggregate;
3. $50,000 any one fire.
If any aggregate limit is reduced below, $1,000,000 because of claims made or paid, the Lessee,
or as applicable, its Contractor, shall immediately obtain additional insurance to restore the full
aggregate limit and furnish to Lessor a certificate or other document satisfactory to Lessor
showing compliance with this provision.
(d) If any operations are anticipated that might in any way result in the creation of a pollution
exposure, Lessee shall also provide Pollution Legal Liability Insurance with minimum limits of liability of
$1,000,000 Each Claim and $1,000,000 Annual Aggregate. Lessor shall be named as an Additional
Insured to the Pollution Legal Liability policy. The Policy shall be written on a Claims Made form, with an
extended reporting period of at least two year following finalization of the Lease.
(e) Umbrella or Excess Liability Insurance with minimum limits of$1,000,000. This policy
shall become primary(drop down) in the event the primary Liability Policy limits are impaired or
exhausted. The Policy shall be written on an Occurrence form and shall be following form of the primary.
The following form Excess Liability shall include Lessor as an Additional Insured.
(f) Lessor shall be named as Additional Insured on the Commercial General Liability
Insurance policy. Coverage required by the Lease will be primary over any insurance or self-insurance
program carried by the State of Colorado.
(g) The Insurance shall include provisions preventing cancellation or non-renewal without at
least 30 days prior notice to Lessor by certified mail to the address contained in this document.
4 of 7 Rev 03/06