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16 <br />named insured or loss payee. The County will provide evidence of such coverage <br />to SunTrust promptly upon such substantial completion. <br />(b) (i) All insurance required by this Section will be maintained with <br />generally recognized responsible insurers and may carry reasonable deductible or <br />risk-retention amounts. All such policies will be deposited with SunTrust, provided <br />that in lieu of such policies there may be deposited with SunTrust a certificate or <br />certificates of the respective insurers attesting. the fact that the insurance required <br />by this Section is in full force and effect. Prior to the expiration of any such policy, <br />the County will furnish SunTrust evidence satisfactory to SunTrust that the policy <br />has been renewed or replaced or is no longer required by this Contract. <br />(ii) In the alternative, the County may maintain the insurance <br />required by subsection (a) above (A) by one or more blanket or umbrella insurance <br />policies or (B) by means of an adequate self-insurance fund or risk-retention <br />program, or by participation in a group risk pool or similar program. <br />(iii) If the County obtains blanket or umbrella coverage, the County <br />will deposit with SunTrust a certificate or certificates of the respective insurers <br />evidencing such coverage and, with respect to property insurance, stating the <br />amount of coverage provided with respect to the Pledged Facilities (or any covered <br />portion thereof). If the County provides for any such alternative risk management <br />programs, the County's risk manager or an independent insurance consultant will <br />review such programs annually for sufficiency.. SunTrust may rely on any such <br />certificate as to the sufficiency of any such alternative program. <br />(c) No County agent or employee will have the power to adjust or settle <br />any property damage loss greater than $1,000,000 with respect to the Pledged <br />Facilities, whether`or not covered by insurance, without SunTrust's prior written <br />consent. <br />(d) SunTrust will not be responsible for the sufficiency or adequacy of <br />any required insurance and will be fully protected in accepting payment on account <br />of such insurance or any adjustment, compromise or settlement of any loss agreed <br />to by SunTrust. ' <br />(e) The County will deliver to SunTrust annually by each June 30 a <br />certificate stating that the risk coverages required by this Contract are in effect. <br />ARTICLE V <br />97562v1 16 <br />