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15 <br /> amount of insurance actually carried or required to be carried, to the actual proceeds <br /> received after a loss or to any deductibles applicable thereto. Each party shall have the <br /> insurance company include an endorsement acknowledging this waiver, if necessary. <br /> Either party's failure to carry the required insurance shall not invalidate this waiver. <br /> 7.2 Liability Insurance. <br /> (a) The policy limits shown below are minimums. If PFPC maintains broader coverage or <br /> higher limits than the minimums shown herein, the County shall be entitled to the broader <br /> coverage and higher limits maintained by PFPC. Any available insurance proceeds in <br /> excess of the specified minimum limits of insurance and coverage shall be available to <br /> the County. <br /> (b) PFPC shall secure and deliver to the Contract Administrator prior to the <br /> commencement of the Management Term and shall keep in force at all times during any <br /> period in which PFPC has operations at the Facility, a commercial liability occurrence <br /> insurance policy, including public liability and property damage, covering the premises <br /> and the operations hereunder, in the amount of One Million Dollars ($1,000,000.00) for <br /> bodily injury and One Million Dollars ($1,000,000.00) for property damage, including <br /> products and completed operations and independent contractors. <br /> (c) PFPC shall also maintain Property Damage Insurance with a single limit of not less <br /> than One Million Dollars ($1,000,000.00) per occurrence. <br /> (d) PFPC shall also maintain Umbrella liability insurance from these limits up to no less <br /> than a limit of Five Million Dollars ($5,000,000). PFPC shall be the named insured under <br /> all such policies. The County shall be an additional insured under the foregoing insurance <br /> policies, as its interests may appear, and said policies shall contain a provision covering <br /> the parties' indemnification liabilities to each other. <br /> (e) Certificates of insurance naming County and evidencing all the policies required of <br /> PFPC hereunder along with copies of the paid receipts therefor shall be delivered to the <br /> Contract Administrator prior to the commencement of this Agreement. Notwithstanding <br /> the provisions of this Section 7.2, the parties hereto acknowledge that the above policies <br /> may contain exclusions from coverage which are reasonable and customary for policies <br /> of such type. Each such policy or certificate shall contain a valid provision or endorsement <br /> stating, "This policy will not be canceled or materially changed or altered without first <br /> giving thirty (30) days' written notice thereof to Orange County, North Carolina, Attention: <br /> Orange County Risk Manager, P.O. Box 8181, Hillsborough, NC 27278, sent by certified <br /> mail, return receipt requested." <br /> (f) The additionally insured endorsement shall further provide the County, its officers, <br /> officials, employees, and agents are to be covered as additional insureds on the <br /> commercial general liability policy with respect to liability arising out of work or operations <br /> performed by or on behalf of PFPC including materials, parts, or equipment furnished in <br /> connection with such work or operations. General liability coverage can be provided in <br /> 11 <br />