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Agenda - 06-28-1989
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Agenda - 06-28-1989
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3/10/2017 4:29:57 PM
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BOCC
Date
6/28/1989
Meeting Type
Regular Meeting
Document Type
Agenda
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18 <br /> . <br /> Enra3IT A <br /> INSURANCE E REQUIRE MENT <br /> The leased equipment is to be covered at all times by insurance in form and <br /> amount and with a company or companies approved by us. All insurance policies <br /> must state that the coverage of Lessor shall not be terminated, reduced or <br /> affected in any manner regardless of any breach or violation by Lessee of any <br /> warranties, declarations or conditions of m.x i insurance policy or policies (or <br /> similar wording) . <br /> Please supply Gelco Finance a Corporation, a subsidiary of General Electric <br /> Capital Corporation, These Gelco Drive, Eden Prairie, Mirusota 55344 with <br /> evidence of the cover ages indicated below: <br /> - GENERAL LIABILITY - Coverage shall be at least a combined single limit <br /> of 51.000,000.00 (one million dollars) . <br /> -- PHYSICAL DAMAGE - Coverage against AIL RISKS, including theft, and <br /> direct physical loss or damage for the actual cost, naming Gelco Finance <br /> Corporationn, a subsidiary of General Electric Capital Cbrporaiton as <br /> Loss Payee under a properly executed Lender's Loss Payable Endorsement. <br /> A copy of this Loss Payable Clause must accompany the certificate. The <br /> deductible shall be no greater than 52.500. <br /> - SIXTY (60) DAYS - An endorsement shall be added providing for sixty (60) <br /> days written notice prior to cancellation, material change or <br /> non-renewal to Gelco. Ten (10) days for non-payment of premium. <br /> tic/Withstanding any exclusion in your insurance coverage, you shall be liable <br /> for loss or damage of the equipment from every cause whatsoever as set forth in <br /> the Iea^e. <br /> A signed certificate and a copy of all endorsements are required before any of <br /> the equipment applicable to this Commitment letter will be funded. <br /> Please enclose evidence of the foregoing coverage with the return of the <br /> executed copy of the Commitment Letter. <br /> The insurance agency which will provide the above coverage for the equipment <br /> named in this Commitment latter will be: <br /> AGENT' NAME: <br /> • ADDRESS: <br /> PHONE: <br /> 'the individual to contact at LESSEE regarding insurance is: <br /> NAME: <br /> POSITION/TITLE: <br /> PHONE: <br /> Please furnish your insurance agent with a cry of this Exhibit A in order for <br /> the correct insurance requirements to be met. <br />
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