Orange County NC Website
Browse       Search
20 <br /> for each loss, to reimburse the Owner for Losses experienced due to the dishonest acts of <br /> Manager's employees. <br /> 11.5 Property Insurance. Manager shall maintain sufficient property damage or <br /> loss insurance to cover personal property owned by Manager and the Owner at the Facility <br /> and shall maintain such insurance beginning as of the date hereof and continuing <br /> throughout all periods in which Manager has any operations at the Facility. The Owner <br /> shall maintain property insurance covering the premises of the Facility. Certificates <br /> evidencing the existence of the policies shall be maintained with Owner's risk management <br /> department and may be provided to manager upon request. Notwithstanding the provisions <br /> of this Section 11.5, the parties hereto acknowledge that the above policies may contain <br /> exclusions from coverage which are reasonable and customary for policies of such type. <br /> 11.6 Certain Other Insurance. If any Agreements signed by Manager prior to the <br /> Effective Date (the "Pre-existing Agreements") consist of agreements with independent <br /> contractors to provide services in respect of the Facility, Manager shall use its best efforts <br /> to cause such contractors to name Owner as an additional insured under any insurance <br /> maintained by such contractors pursuant to the terms of such Pre-existing Agreements <br /> and in such event to deliver to Manager promptly after request therefor a certified copy of <br /> such policy and a certificate evidencing the existence thereof. In addition, if Manager <br /> enters into any agreements during the Management Term and any renewal term with any <br /> independent contractors for the provision of services hereunder, Manager shall have the <br /> right to require such contractors to name Manager as an additional insured under any <br /> insurance required by Manager thereunder and to deliver to Manager prior to the <br /> performance of such services a certified copy of such policy, plus a certificate evidencing <br /> the existence thereof, which policy contains the same type of endorsements and provisions <br /> as provided in Section 11 .2. If Manager does require such contractors to name Manager <br /> as an additional insured under any insurance required by Manager, it shall also require <br /> such contractors to name the Owner as an additional insured and such policies shall <br /> contain the same type of endorsements and provisions as provided in Section 11 .2 <br /> Manager shall, within ninety (90) days of the date of this Agreement and at least yearly <br /> thereafter, review the insurance carried by the Owner and Manager covering the Facility <br /> or any of Manager's or the Owner's operations at the Facility, or required of third parties <br /> using the Facility, with regard to Manager's experiences at other similar facilities, and shall <br /> within fifteen (15) days of such review advise the Owner in writing of the results of its review <br /> and of any changes, additions or increases to the insurance requirements hereunder or <br /> applicable to third parties which are advisable under best facility management practices. <br /> The parties hereto shall each immediately notify the other, along with any applicable <br /> insurance carrier(s), in writing of any occurrence or discovery which could result in an <br /> insurance claim hereunder. <br /> (a) Manager shall require reasonable liability insurance from all third-party <br /> licensees, lessees, tenants, and renters of the Facility and shall enforce the <br /> provisions contained in all third-party contracts entered into in connection with <br /> the Facility, including the insurance requirement contained in all Owner <br /> approved event license, concessionaire, subcontractor and other similar <br /> agreements. All such liability insurance shall name Manager and Orange <br />