A.   Upon the effective date, grantee shall, at its sole expense take out and maintain during the term of this franchise public liability insurance with a company licensed to do business in the state of Minnesota with a rating by A.M. Best & Co., of not less than A that shall protect the grantee, city and its officials, officers, directors, employees and agents from claims which may arise from operations under this franchise, whether such operations be by the grantee, its officials, officers, directors, employees and agents or any subcontractors of grantee. This liability insurance shall include, but shall not be limited to, protection against claims arising from bodily and personal injury and damage to property, resulting from grantee's vehicles, products and operations. The amount of insurance for single limit coverage applying to bodily and personal injury and property damage shall not be less than two million dollars ($2,000,000.00). The following endorsements shall be attached to the liability policy:
      1.   The policy shall provide coverage on an "occurrence" basis.
      2.   The policy shall cover personal injury as well as bodily injury.
      3.   The policy shall cover blanket contractual liability subject to the standard universal exclusions of contractual liability included in the carrier's standard endorsement as to bodily injuries, personal injuries and property damage.
      4.   Broad form property damage liability shall be afforded.
      5.   City shall be named as an additional insured on the policy.
      6.   An endorsement shall be provided which states that the coverage is primary insurance and that no other insurance maintained by the grantor will be called upon to contribute to a loss under this coverage.
      7.   Standard form of cross liability shall be afforded.
      8.   An endorsement stating that the policy shall not be canceled without thirty (30) days notice of such cancellation given to city.
   B.   Grantee shall submit to city documentation of the required insurance, including a certificate of insurance signed by the insurance agent and companies named, as well as all properly executed endorsements. (Ord. 827, 8-5-2002, eff. 8-26-2002)