A. Licensee shall, during the term hereof, at its expense, maintain in full force and effect, the following insurance:
(1) a policy of insurance for bodily injury, death and property damage insuring against all claims, demands or actions relating to Company’s performance of its obligations pursuant to this Agreement with (1) a policy of general liability (public) insurance with a minimum combined single limit of not less than $1 Million Dollars per occurrence for bodily injury and property damage with an aggregate of not less than $2 Million Dollars; (2) policy of automobile liability insurance covering any vehicles owned and/or operated by the Licensee, its officers, agents, employees and contractors, and used in the performance of its obligations hereunder with a minimum of $1 Million Dollars; and (3) statutory Worker’s Compensation Insurance covering all employees involved in the performance of its obligations hereunder.(2) All policies of insurance shall be endorsed to contain the following provisions: (1) name the Licensor, its officers, agents and employees as additional insured’s as to all applicable coverage with the exception of Workers Compensation Insurance; (2) provide for at least thirty (30) days prior written notice to the Licensor for cancellation, non-renewal, or material change of the insurance; (3) provide for a waiver of subrogation against the Licensor for injuries, including death, property damage, or any other loss to the extent the same is covered by the proceeds of insurance. In the event the companies providing the required insurance are prohibited by law to provide any such specific endorsements for notice of cancellation, non-renewal, or material change of insurance, the Licensee shall provide City at least thirty (30) days prior written notice to the City of any cancellation, non-renewal and/or material changes to any of the policies of insurance.(3) All insurance companies providing the required insurance shall be authorized to transact business in Texas and rated at least “A” by AM Best or other equivalent rating service.(4) A certificate of insurance and copies of policy endorsements evidencing the required insurance shall be submitted prior to commencement of the Term of this Agreement. On every date of renewal of the required insurance policies, the Licensee shall cause a certificate of insurance and policy endorsements to be issued evidencing the required insurance herein and delivered to the City. In addition, Licensee shall within ten (10) business days after written request provide the City with certificates of insurance and policy endorsements for the insurance required herein. The delivery of the certificates of insurance and policy endorsements to the City is a condition precedent to the payment of any amounts due to Licensee by the City. The failure to provide valid certificates of insurance and policy endorsements shall be deemed a default and/or breach of this Agreement. B. Licensor shall require its contractors, at the contractor's own expense, to maintain during the term of the Agreement, the required insurance including the required certificate and policy endorsements as set forth herein.