(a) As a condition of a use permit, a use permit holder must secure and maintain the following liability insurance policies insuring both the permit holder and the City, and naming its elected and appointed officers, officials, agents and employees as additional insureds:
(1) Comprehensive general liability insurance with limits not less than:
A. Five million dollars ($5,000,000) for bodily injury or death to each person;
B. Five million dollars ($5,000,000) for property damage resulting from any one accident; and
C. Five million dollars ($5,000,000) for all other types of liability.
(2) Automobile liability for owned, non-owned and hired vehicles with a limit of three million dollars ($3,000,000) for each person and three million dollars ($3,000,000) for each accident;
(3) Workers' compensation within statutory limits or employer's liability insurance with limits of not less than one million dollars ($1,000,000). A current certificate of insurance shall be kept on file with the City Clerk; and
(4) Comprehensive form premises-operations, explosions and collapse hazard, underground hazard and products completed hazard with limits of not less than three million dollars ($3,000,000).
(b) The liability insurance policies required by this section shall be maintained by the permit holder throughout the term of a use permit, and such other period of time during which the permit holder is operating without a permit hereunder, or is engaged in the removal of its facilities. A current certificate of insurance shall be kept on file with the City Clerk. Each such insurance policy shall contain the following endorsement:
"It is hereby understood and agreed that this policy may not be cancelled nor the intention not to renew be stated until ninety days after receipt by the City, by registered mail, of a written notice addressed to the Mayor of such intent to cancel or not to renew."
Within sixty days after receipt by the City of said notice, and in no event later than thirty days prior to said cancellation, the permit holder shall obtain and furnish to the City replacement insurance policies meeting the requirements of this section.
(Ord. 1998-11. Passed 6-22-98.)