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minpw 11-4-19
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minpw 11-4-19
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3/3/2020 10:41:36 AM
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Office Of Council
Document Type
Public Works
Date
11/4/2019
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PERFORMANCE GUARANTY. IF THE ISSUER OF THE PERFORMANCE GUARANTY (OR ANY <br /> SUBSEQUENT ASSIGNEE)AND THE SELLER ARE NOT THE SAME PERSON,NO RIGHTS PROVIDED TO <br /> PURCHASER BY THE PERFORMANCE GUARANTY MAY BE ASSERTED UNDER THIS AGREEMENT, <br /> AND NO CLAIM UNDER THE PERFORMANCE GUARANTY WILL AFFECT PURCHASER'S <br /> OBLIGATIONS UNDER THIS AGREEMENT. <br /> 13. Insurance. <br /> a. Insurance Coverage. At all times during the Term,the Parties shall maintain the following insurance,as applicable: <br /> i. Seller's Insurance. Seller shall maintain or ensure the following is maintained (a) property insurance on the <br /> System for the replacement cost thereof, (b) commercial general liability insurance with coverage of at least <br /> $1,000,000 per occurrence and$2,000,000 annual aggregate,(c)employer's liability insurance with coverage of <br /> at least $1,000,000 and (iv) workers' compensation insurance as required by law. Seller's coverage may be <br /> provided as part of an enterprise insurance program. <br /> ii. Purchaser's Insurance. Purchaser shall maintain commercial general liability insurance with coverage of at least <br /> $1,000,000 per occurrence and$2,000,000 annual aggregate. <br /> b. Policv Provisions. Each Party's insurance policies shall(i) contain a provision whereby the insured agrees to give <br /> the other Party at least thirty(30)days(ten(10)days for non-payment of premiums)written notice before the insurance <br /> is cancelled,or terminated,(ii)be written on a claims-made basis basis,and(iii)be maintained with companies either <br /> rated no less than A-VII as to Policy Holder's Rating in the current edition of A.M. Best's Insurance Guide or <br /> otherwise reasonably acceptable to the other Party. <br /> C. Certificates. Upon the other Party's request, each Party shall deliver to the other Party certificates of insurance <br /> evidencing the above required coverage. A Party's receipt,review or acceptance of such certificate shall in no way <br /> limit or relieve the other Party of the duties and responsibilities to maintain insurance as set forth in this Agreement. <br /> d. Deductibles. Each Party shall pay its own insurance deductibles, except in the case of claims (i) resulting from a <br /> breach of this Agreement,in which case the breaching Party is responsible for payment of the non-breaching Party's <br /> deductible for any responding insurance,and(ii)covered by an indemnity set forth in this Agreement. <br /> 14. Ownership; Option to Purchase. <br /> a. Ownership of Svstem. <br /> i. Ownership; Personal Property. Throughout the Term, Seller shall be the legal and beneficial owner of the <br /> System, and all RECs and Incentives, and the System will remain the personal property of Seller and will not <br /> attach to or be deemed a part of,or fixture to,the Premises or any Improvement on which the System is installed. <br /> Each of the Seller and Purchaser agree that the Seller is the tax owner of the System and all tax filings and reports <br /> shall be filed in a manner consistent with this Agreement. The System will at all times retain the legal status of <br /> personal property as defined under Article 9 of the Uniform Commercial Code. <br /> ii. Notice to Purchaser Lienholders. Purchaser shall use commercially reasonable efforts to place all parties <br /> having a Lien on the Premises or any Improvement on which the System is installed on notice of the ownership <br /> of the System and the legal status or classification of the System as personal property. If any mortgage or fixture <br /> filing against the Premises could reasonably be construed as prospectively attaching to the System as a fixture <br /> of the Premises,Purchaser shall provide a disclaimer or release from such lienholder. <br /> iii. Fixture Disclaimer. If Purchaser is the fee owner of the Premises, Purchaser consents to the filing of a <br /> disclaimer of the System as a fixture of the Premises in the office where real estate records are customarily filed <br /> in the jurisdiction where the Premises are located. If Purchaser is not the fee owner,Purchaser shall obtain such <br /> consent from such owner. For the avoidance of doubt, in either circumstance Seller has the right to file such <br /> disclaimer. <br /> iv. SNDA. Upon request,Purchaser shall deliver to Seller a subordination and non-disturbance agreement in a form <br /> mutually acceptable to Seller and the provider of the subordination and non-disturbance agreement from the <br /> {7794548:1 SEIA C&I PPA,version 2.0 <br /> Exh. 3,p. 9 <br />
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