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elected not to include a: self -insured retention or other financial responsibility for <br />claims. <br />15.6.5 Prior to entering or using the Premises or..commencing.:any work related to :the <br />installation or subsequent. maintenance of the Pipeline, Licensee-shall.furnish to. <br />Licensor an acceptab.fe certificates) of insurance from an authorized: <br />representative evidencing the required coverage(s), endorsements, and. <br />amendments. <br />15.6.6 Licensee. shall notify Licensor in writing at least 30. days prior to any .cancelfation, <br />non -renewal, substitution or material alteration of any insurance requirement. <br />15..6.7 Any insurance policy shall be written by a reputable insurance company <br />acceptable to Licensor or with a current Best's Guide Rating.of A- and Class VI or <br />better, and authorized :to .do business in the state(s) in which the service is to be <br />provided. Insurance for the City will be provided by the League of Minnesota Cities <br />insurance Trust. <br />15.6.8 1f the coverage provided by any of the insurance policies required by this. <br />agreement is purchased on a "clairris made" basis, Licensee hereby agrees to <br />maintain coverage in force for 'a minimum of three years after expiration, <br />cancellation or termination of this agreement. <br />1..5.6.9 Licensee agrees to provide evidence to Licensor that it has the required coverage <br />in place at. least annually or: in the event of a renewal or material change of <br />coverage. <br />15.6.10 Licensee represents that.th is: License has been thoroughly reviewed by Licensee's <br />insurance agent(s)lbroker(s), and that Licensee has instructed them to procure the <br />insurance coverage required by this License: <br />16.6,11 Not more frequently .than once every five years, LiCens..or may., at its discretion,. <br />reasonably modify the. insurance. requirements: to reflect the then -current risk <br />management practices in the railroad industry and underwriting practices in the <br />insurance industry. <br />15.6.12 If Licensee will subcontract any portion of the. operation, Licensee shall: require that <br />the subcontractor provide and maintain insurance coverage(s) as.:set forth herein, <br />naming Licensor as an additional insured. En addition, .Licensee. shall require that <br />the subcontractor shall release, defend and indemnify Licensee to the same extent <br />and under the same terms and conditions. as Licensee is required to release, <br />defen.d.and indemnify Licensor under -this agreement, <br />15:6.13 Failure to provide evidence as required by this section.shall entitle, but not require; <br />Licensor to terminate. this License immediately. Acceptance of a certificate that <br />does. not .comply with this section :shall not .operate as a waiver of Licensee's <br />obligations hereunder. <br />15014 The fact that. Licensee obtains insurance {including; without limitation, self- <br />insurance) shall not release or diminish Licensee's liabilities or obligations <br />including, without limitation, the liabilities and obligations under the indemnity <br />provisions of the License. Damages recoverable by Licensor shall not be limited <br />by the amount of the required insurance coverage. Damages are limited pursuant <br />to Minnesota Statutes. <br />10 Form 424; Rev. 20190916 <br />