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• � 3. Workers' Compensation and Employers' Liability Workers' Compensation as required by Minnesota Statutes Employers' Liability Limits: $500,000/$500,000/$500,000 4. Professional Liability/Errors and Omissions Coverage (if applicable) Per Claim Limit: $ 500,000 Per Occurrence Limit: $1,500,000 Aggregate Limit: $2,000,000 This policy is to be written as acceptable to the AUTHORITY. Certificates of Insurance must indicate if the policy is issued on a claims- made or occurrence basis. If coverage is carried on a claims-made basis, then: 1) the retroactive date shall be noted on the Certificate and shall be prior to or the day of the inception of the AGREEMENT; and 2) evidence of coverage shall be provided for three years beyond expiration of the AGREEMENT. The AUTHORITY, Ramsey County, their officials, employees, and agents, shall be added to the policy as additional insured; a separation of insureds endorsement shall be provided to the benefit of the AUTHORITY and Ramsey County. 5. Property Insurance. The BORROWER shall secure property insurance on a replacement cost, all risk basis for both real and personal property. The policy shall include business interruption and extra expense coverages. The AUTHORITY shall be added to the policy as lender as their interest may appear. C. All Certificates of Insurance shall provide that the insurance company gives the AUTHORITY thirty (30) days prior written notice of cancellation, non-renewal and/or any material change in policy. D. The above sub-paragraphs establish minimum insurance requirements, and it is the sole responsibility of BORROWER to purchase and maintain additional coverages as it may deem necessary in connection with this AGREEMENT. E. Certificate of Insurance must indicate if the policy is issued pursuant to these requirements. BORROWER shall not commence work until the BORROWER has obtained the required insurance and filed an acceptable Certificate of Insurance with AUTHORITY. Copies of insurance policies Page -4-