Laserfiche WebLink
<br />to said City's approval. <br /> <br />Insurance <br /> <br />carriers <br /> <br />insuring <br /> <br />Trans-Air <br /> <br />in <br /> <br />accordance <br /> <br />herewith <br /> <br />which are not rated by the most recent edition of <br /> <br />Best's Key Rating Guide, Property-Casualty, published <br /> <br />by <br /> <br />A.M. <br /> <br />Best <br /> <br />Company, <br /> <br />or <br /> <br />insurance <br /> <br />carriers <br /> <br />having a rating lower than B+ VII as <br /> <br />shown in the most recent edition of said book, will not be approved <br /> <br />by <br /> <br />the <br /> <br />City unless a guaranty bond acceptable to said City from a carrier <br /> <br />rated B+ VII or higher guaranteeing <br /> <br />payment <br /> <br />of <br /> <br />any <br /> <br />and <br /> <br />all <br /> <br />claims <br /> <br />against Trans-Air is furnished to the City. <br /> <br />All <br /> <br />insurance <br /> <br />required <br /> <br />under <br /> <br />this <br /> <br />Paragraph <br /> <br />4 <br /> <br />shall be <br /> <br />written with <br /> <br />the <br /> <br />City <br /> <br />of <br /> <br />San <br /> <br />Marcos <br /> <br />as <br /> <br />coinsured <br /> <br />or <br /> <br />additional <br /> <br />insured. <br /> <br />The <br /> <br />stated limits of insurance required by this Paragraph 4 <br /> <br />are <br /> <br />MINHmM <br /> <br />ONLY <br /> <br />and <br /> <br />it <br /> <br />shall <br /> <br />be <br /> <br />Trans-Air's <br /> <br />responsibility <br /> <br />to <br /> <br />determine <br /> <br />what limits are adequate. <br /> <br />These minimum limits may be basic <br /> <br />policy limits or any combination of basic limits and <br /> <br />umbrella <br /> <br />limits. <br /> <br />In any event, Trans-Air is fully responsible for all losses arising out <br /> <br />of <br /> <br />resulting <br /> <br />from <br /> <br />or connected with operations under this Agreement <br /> <br />whether or not said <br /> <br />losses <br /> <br />are <br /> <br />covered <br /> <br />by <br /> <br />insurance. <br /> <br />The <br /> <br />City's <br /> <br />acceptance <br /> <br />of <br /> <br />Certificates <br /> <br />of <br /> <br />Insurance <br /> <br />that in any respect do not <br /> <br />comply with the Agreement requirements does not release Trans-Air <br /> <br />from <br /> <br />compliance herewith. <br /> <br />All <br /> <br />insurance <br /> <br />required <br /> <br />under <br /> <br />this <br /> <br />paragraph <br /> <br />4 <br /> <br />shall be <br /> <br />primary over any other insurance coverage the City of <br /> <br />San <br /> <br />Marcos <br /> <br />may <br /> <br />have. <br /> <br />5. <br /> <br />This <br /> <br />agreement <br /> <br />shall <br /> <br />remain <br /> <br />in <br /> <br />effect for the duration of any <br /> <br />Lease Agreement <br /> <br />allowing <br /> <br />Trans-Air <br /> <br />to <br /> <br />operate <br /> <br />at <br /> <br />the <br /> <br />San <br /> <br />Ì>1arcos <br /> <br />Municipal <br /> <br />Airport <br /> <br />as <br /> <br />a <br /> <br />full <br /> <br />service <br /> <br />FBO. <br /> <br />This agreement shall be <br /> <br />subject to review and renegotiation at the same interval <br /> <br />and <br /> <br />time <br /> <br />as <br /> <br />the Trans-Air Industries, Inc. FBO Lease Agreement. <br /> <br />6. <br /> <br />Trans-Air <br /> <br />agrees <br /> <br />to protect, defend, indemnify and hold the Cii:y <br /> <br />and its employees, agents, officers and servants free and harmless from <br /> <br />any and all losses, claims, liens, demands <br /> <br />and <br /> <br />causes <br /> <br />of <br /> <br />action <br /> <br />of <br /> <br />every <br /> <br />kind <br /> <br />and character including, but not limited to, the amount of <br /> <br />judgments, penalties, interests, court costs arising in <br /> <br />favor <br /> <br />of <br /> <br />any <br /> <br />party <br /> <br />including <br /> <br />the amounts of damages or awards from claims, liens, <br /> <br />debts, personal injuries, <br /> <br />(including employees <br /> <br />of <br /> <br />City) <br /> <br />and <br /> <br />without <br /> <br />-3- <br />