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KYA SERVICES, LLC
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Last modified
4/16/2025 11:12:56 AM
Creation date
4/9/2025 5:03:04 PM
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Contracts
Company Name
KYA SERVICES, LLC
Contract #
P22-2755
Agency
Public Works
Council Approval Date
3/18/2025
Expiration Date
1/1/1900
Insurance Exp Date
6/8/2025
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ENDORSEMENT # 009 <br /> This endorsement, effective 12:01 AM 06/08/2024 <br /> Forms a part of policy no.: 031565759 <br /> Issued to: KYA SERVICES, LLC <br /> By: LEXINGTON INSURANCE COMPANY <br /> RECTIFICATION COVERAGE EXTENSION ENDORSEMENT <br /> In consideration of the premium charged, it is hereby understood and agreed that this endorsement <br /> modifies insurance provided by the policy as follows: <br /> SCHEDULE <br /> Aggregate Rectification Sublimit of Liability: $2,000,000 <br /> Each Design Defect Rectification Sublimit of Liability: $ 1 ,000,000 Each Design Defect <br /> Rectification Retained Amount: $ 15,000 Each Design Defect <br /> Retroactive Date o61o8/2024 <br /> The Aggregate Rectification Sublimit of Liability set forth in the Schedule above is included within and <br /> reduces the Policy Term Aggregate shown in ITEM 3. of the DECLARATIONS. <br /> I. The following Coverage Extension is added to the policy: <br /> The Company shall reimburse reasonable and necessary Rectification Costs in excess of the <br /> Rectification Retained Amount incurred by the Named Insured to redesign and/or remediate a <br /> Design Defect to which this Coverage Extension applies. <br /> In order for this Coverage Extension to apply, all of the following conditions must be met: <br /> A. The Design Defect must be caused by or result from Professional Services rendered by or <br /> on behalf of an Insured subsequent to the Retroactive Date shown in the schedule above and <br /> prior to the end of the Policy Period; and <br /> B. The Design Defect must be first discovered during the Policy Period and prior to the earliest <br /> of either a) the issuance of a certificate of substantial completion or b) the date that the <br /> constructed project has been put to its intended use by any person other than a contractor or <br /> subcontractor; and <br /> C. The Named Insured provides written notice to the Company prior to incurring or committing to <br /> incur any Rectification Costs, but in no event later than sixty (60) days after the end of the <br /> Policy Period; and <br /> D. The Named Insured demonstrates by clear and convincing evidence that the Design Defect <br /> could result in a covered Claim being made against an Insured. Rectification Costs to <br /> remedy such Design Defect must be approved, in writing, by the Company prior to being <br /> incurred by the Insured; and <br /> E. To the extent of reimbursement under this Coverage Extension, the Named Insured agrees to <br /> transfer the Named Insured's rights of recovery against any person or organization responsible <br /> for the Design Defect, and the Named Insured shall execute and deliver instruments and <br /> papers and do whatever else is necessary to secure such rights. The Insured shall not waive <br /> these rights of subrogation either before or after such rights accrue. <br /> LX6266 (03/18) <br /> 128689 Page 1 of 3 <br />
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