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<br /> <br />iv. Aggregate shall procure and maintain, and shall cause any <br />Subcontractor of Aggregate to procure and maintain, the minimum <br />insurance coverages listed herein. Such coverages shall be procured <br />and maintained with forms and insurers acceptable to Thornton. All <br />coverages shall be continuously maintained to cover all liability, <br />claims, demands, and other obligations assumed by Aggregate. In <br />the case of any claims-made policy, the necessary retroactive dates <br />and extended reporting periods shall be procured to maintain such <br />continuous coverage. <br />v. A Certificate of Insurance sha{{ be completed by Aggregate's <br />Insurance Agent(s) as evidence that policies providing the required <br />coverages, conditions, and minimum limits are in full force and effect <br />and shall be subject to review and approval by Thornton prior to any <br />entry onto the Property by Aggregate after Closing. The Certificate <br />shall identlfy this Agreement and shall provide that the coverages <br />afforded under the policies shall not be canceled, terminated or <br />materially changed until at least thirty (30) Days prior written notice <br />has been given to Thornton. The Certificate shall name Thornton, <br />its officers and its employees as additional insureds with respect to <br />the General Liability Insurance. The completed Certificate of <br />Insurance shall be sent to: <br />City of Thornton <br />Risk Management <br />P.O. Box 291220 <br />Thornton, CO 80229-1220 <br />vi. Thornton reserves the right to request and receive a certified copy <br />of any policy and any endorsement thereto. Aggregate shall execute <br />any and all documents necessary to allow Thomton access to any <br />and all insurance policies and endorsements pertaining to this <br />Property. <br />vii. Every policy required above shall be primary insurance, and any <br />insurance carried by Thomton, its officers, or its employees shall be <br />excess and not contributory insurance to that provided by <br />Aggregate. Aggregate shall be solely responsible for any deductible <br />losses under the policies required above. <br />Hammer <br />Option & Purchase Agreement <br />December 11, 2000 <br />Page 21 of 29 <br />