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Law Department Approved Tracking #10 -41576 <br />In lieu of providing a Railroad Protective Liability Policy, Licensee may participate in <br />Licensor's Blanket Railroad Protective Liability Insurance Policy available to Licensee or <br />its contractor. The limits of coverage are the same as above. The cost is $1,000.00. <br />�( I elect to participate in Licensor's Blanket Policy; <br />❑ I elect not to participate in Licensor's Blanket Policy. <br />Other Requirements: <br />Where allowable by law, all policies (applying to coverage listed above) shall contain no <br />exclusion for punitive damages and certificates of insurance shall reflect that no <br />exclusion exists. <br />Licensee agrees to waive its right of recovery against Licensor for all claims and suits <br />against Licensor. In addition, its insurers, through policy endorsement, waive their right <br />of subrogation against Licensor for all claims and suits. The certificate of insurance <br />must reflect waiver of subrogation endorsement. Licensee further waives its right of <br />recovery, and its insurers also waive their right of subrogation against Licensor for loss <br />of its owned or leased property or property under its care, custody, or control. <br />Licensee's insurance policies through policy, endorsement must include wording which <br />states that the policy shall be primary and non - contributing with respect to any insurance <br />carried by Licensor. The certificate of insurance must reflect that the above wording is <br />included in evidenced policies. <br />All policy(ies) required above (excluding Workers Compensation, Contractor's Pollution <br />Legal Liability and if applicable, Railroad Protective) shall include a severability of <br />interest endorsement and shall name Licensor and Staubach Global Services - RR, Inc. <br />as an additional insured with respect to work performed under this agreement. <br />Severability of interest and naming Licensor and Staubach Global Services - RR, Inc. as <br />additional insureds shall be indicated on the certificate of insurance. <br />Licensee is not allowed to self- insure without the prior written consent of Licensor. If <br />granted by Licensor, any deductible, self- insured retention or other financial <br />responsibility for claims shall be covered directly by Licensee in lieu of insurance. Any <br />and all Licensor liabilities that would otherwise, in accordance with the provisions of this <br />Agreement, be covered by Licensee's insurance will be covered as if Licensee elected <br />not to include a deductible, self- insured retention, or other financial responsibility for <br />claims. <br />Prior to commencing the Work, Licensee shall furnish to Licensor an acceptable <br />certificate(s) of insurance including an original signature of the authorized representative <br />evidencing the required coverage, endorsements, and amendments. The policy(ies) <br />shall contain a provision that obligates the insurance company(ies) issuing such <br />policy(ies) to notify Licensor in writing at least 30 days prior to any cancellation, non - <br />renewal, substitution or material alteration. This cancellation provision shall be indicated <br />on the certificate of insurance. In the event of a claim or lawsuit involving Railroad <br />arising out of this agreement, Licensee will make available any required policy covering <br />such claim or lawsuit. <br />-9 - <br />Form 424; Rev. 04/26/05 <br />