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b. The BID shall have no responsibility, liability, or obligation with respect to <br />the safety or security of any personal property of the City placed or located on, at, or in <br />the Premises, it being acknowledged and understood by the City that the safety and <br />security of any such property is the sole responsibility and risk of the City. <br />12. Insurance. <br />a. The BID agrees to procure and maintain, at its expense, the policies of <br />insurance set forth in Subsections a.i through a.iii. Further, the BID shall require each <br />contractor conducting activities on the Premises pursuant to this Agreement to have and <br />maintain at their own expense, the policies of insurance set forth in Subsections a.i <br />through a.iii. The coverages required below shall be procured and maintained with forms <br />and insurers acceptable to the City. All applicable coverages shall be continuously <br />maintained from the Effective Date hereunder. The required coverages are: <br />Workers' Compensation insurance if required by the Labor Code of the State <br />of Colorado and Employers Liability Insurance. Evidence of qualified self - <br />insured status may be substituted. <br />ii. General Liability insurance with minimum combined single limits of <br />$1,000,000 each occurrence and $2,000,000 aggregate. The additional <br />insured endorsement shall be at least as broad as ISO form CG2010 for <br />General Liability coverage. <br />iii. Comprehensive Automobile Liability insurance with minimum combined <br />single limits for bodily injury and property damage of not less than $400,000 <br />per person in any one occurrence and $1,000,000 for two or more persons in <br />any one occurrence, and auto property damage insurance of at least $50,000 <br />per occurrence, with respect to each of BID's owned, hired or non -owned <br />vehicles assigned to or used in performance of the Management Services. If <br />the BID has no owned automobiles, the requirements of this paragraph shall <br />be met by each officer or employee of the BID providing services to the City <br />under this Agreement. <br />b. The BID's and each of its contractor's general liability insurance and <br />automobile liability insurance shall be endorsed to include the City, and its elected and <br />appointed officers and employees, as additional insureds, unless the City in its sole <br />discretion waives such requirement. Every policy required above shall be primary <br />insurance, and any insurance carried by the City, its officers, or its employees, shall be <br />excess and not contributory insurance to that provided by the BID or its contractors. Such <br />policies shall contain a severability of interests provision. The BID and its contractors shall <br />be solely responsible for any deductible losses under each of the policies required above. <br />Neither the BID nor its contractors shall be relieved of any liability, claims, demands, or <br />other obligations assumed pursuant to this Agreement by reason of its failure to procure <br />or maintain insurance, or by reason of its failure to procure or maintain insurance in <br />sufficient amounts, durations, or types. <br />7 <br />