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3. Notice of Cancellation: Each insurance policy required above shall <br />provide that coverage shall not be canceled, except with notice to <br />the City. <br />4. Waiver of Subrogation: Contractor hereby grants to City a waiver <br />of any right to subrogation that any insurer of said Contractor may <br />acquire against the City by virtue of the payment of any loss under <br />such insurance. Contractor agrees to obtain any endorsement that <br />may be necessary to affect this waiver of subrogation, but this <br />Provision applies regardless of whether or not the City has received <br />a waiver of subrogation endorsement from the insurer. <br />5. Self -Insured Retentions: Self -insured retentions must be declared <br />to and approved by the City. The City may require theContractor to <br />purchase coverage with a lower retention or provide proof of ability <br />to pay losses and related investigations, claim administration, and <br />defense expenses within the retention. The policy language shall <br />provide, or be endorsed to provide, that the self -insured retention <br />may be satisfied by either the named insured or City. <br />6. Acceptability of Insurers: Insurance is to be placed with insurers <br />authorized to conduct business in the state with a current A.M. <br />Best's rating of no less than A:VII, unless otherwise acceptable to <br />the City. <br />7. Verification of Coverage: Contractor shall furnish the City with <br />original Certificates of Insurance including all required amendatory <br />endorsements (or copies of the applicable policy language effecting <br />coverage requiredby this clause) and a copy of the Declarations and <br />Endorsement Page of the CGL policy listing allpolicy endorsements <br />to City before work begins. However, failure to obtain the required <br />documents prior to the work beginning shall not waive the <br />Contractor's obligation to provide them. <br />The City reserves the right to require complete, certified copies of all <br />required insurance policies, including endorsements required by <br />these specifications, at any time. <br />Subcontractors: Contractor shall require and verify that all <br />subcontractors maintain insurance meeting all the requirements <br />stated herein, and Contractor shall ensure that City is an additional <br />insured on insurance required from subcontractors. <br />9. Special Risks or Circumstances: City reserves the right to modify <br />these requirements, including limits, based on the nature of therisk, <br />prior experience, insurer, coverage, or other special circumstances. <br />Page 4 of 9 <br />