STRAIGHT TALK, INC. -2007 - Laserfiche WebLink

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31a) of said Act, for use in an area identified by the Federal Emergency Management Agency as having special flood hazards which is located in a community not then in compliance with the requirements for participation in the National Flood Insurance Program pursuant to Section 201 (d) of said Act. The use of any assistance provided under this Agreement for such acquisition, rehabilitation, or construction in such identitied areas in communities then participating in the National Flood Insurance Program shall be subject to the mandatory purchase of flood insurance requirements of Section 102(a) of said Act. j. Coastal Barriers. 24 CFR 574.645. This Agreement is subj ect to the Coastal Barrier Resources Act (16 U. S. C. 3501). No financial assistance under the HOPWA Program may be made available within the Coastal Barrier Resources System. The use of any assistance provided under this Agreement within the Coastal Barrier Resources System shall be grounds for immediate termination of this Agreement. 9. All-Risk and Liabilitv Insurance. Developer, and the subsequent Owner shall maintain, during the term of this Agreement, II) an all-risk property insurance policy insuring the Property in an amount equal to the full replacement value of the structures on the Property, and (2) a comprehensive general liability insurance policy with a $1,000,000 limit of liability. The all-risk policy shall name the City as loss payee and the liabili ty insurance po}j cy shall name the City as an additional insured. Each policy shall contain a statement of obligation on behalf of the insurance carrier to notify the City of any material change, cancellation or termination of coverage at least 30 days in advance of the effective date of such material change, cancellation or termination. Developer and/or any subsequent Ohmer shall deliver a copy of the certificate of insurance for each policy and the loss payee or additional insured endorsement, as the case may be, to the City at the execution of this agreement. Developer and any subsequent Owner of the Property shall annually deliver a copy of the certificate of insurance for each policy and the loss payee or additional insured endorsement, as the case may be, to the City, signed by an authorized agent of the insurance carrier and setting forth the general provisions of coverage. The copies of the certificate of insurance and endorsements shall be delivered to the City as follows: The City of Santa Ana 20 Civic Center Plaza Santa Ana, California 92702 Attention: Housing Authority Any certificate of insurance required by this Section 9 must be in a form, content and with an insurance company that is acceptable to the City in its sole discretion. Any insurance proceeds shall, to the extent applicable, be paid to Straight Talk Development Agreement 7/18/2007 6