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<br />C. Insurance <br /> <br />Owner, including its successors and assigns, shall maintain, during the terms of this <br />Declaration, the insurance specified below. A Certificate of Insurance shall be provided to the <br />City of Sunny Isles Beach's City Manager prior to the effective date of this Declaration as <br />provided in paragraph four (4). No modification, change or cancellation of insurance shall be <br />made without thirty (30) days' written advance notice to the City Manager, with a copy to the <br />City Attorney. <br /> <br />Public Liability Insurance on a comprehensive basis in an amount not less than One <br />Million Dollars combined single limit and an aggregate of not less than Three Million Dollars for <br />bodily injury and property damage. The policy shall list the City as an additional insured. The <br />policy shall include Products Liability coverage if any when applicable. No modification, <br />change or cancellation of insurance shall be made without thirty (30) days written advance notice <br />to the City Manager with a copy to the City Attorney. The Public Liability Insurance coverage <br />shall include those classifications as listed in Standard Liability Insurance Manuals, which are <br />applicable to the operations of Owner, its successor and assigns in the performance of this <br />Declaration. All insurance policies required above shall be issued by companies authorized to do <br />business under the laws of the State of Florida. Such companies shall have a general policy <br />holders' rating of "A" or better and a financial rating of not less than "Class V" as reported by <br />Best's Key Rating Guide, published by A.M. Best Company, latest edition. This insurance shall <br />be in effect as long as this Declaration exists. Failure to continue to provide the insurance <br />coverage shall constitute a violation of this Declaration. <br /> <br />Compliance with the foregoing requirements shall not relieve Owner, its successors or <br />assigns of its liability and obligation under this section or any other portion of this Declaration. <br /> <br />The City reserves the right to reasonably amend the insurance requirements by the <br />issuance of a notice in writing to Owner, its successors or assigns. <br /> <br />4. Effective Date. This grant of Easement shall not become effective until the City issues a <br />final certificate of use and occupancy for the development approved under the Resolution, as <br />modified by any subsequent substantial compliance approval, or as such other plans are approved <br />at public hearing consistent with this Declaration. <br /> <br />5. Reservation. Grantor hereby reserves all rights of ownership in and to the property <br />underlying the Easement (the "Easement Parcel") which is not inconsistent with this Declaration, <br />including, without limitation: (a) the right to grant further non-exclusive Easement on, over, <br />under and/or across the Easement Parcel (Le., utility and/or access Easement); (b) the right to use <br />the Easement Parcel for all uses not interfering or inconsistent with the uses permitted herein, <br />including, but not limited to: vehicular access and ingress and egress to, over, and from the <br />Easement Parcel and the Property; service access to, over and from the Easement Parcel and the <br />Property; installation, maintenance and use of utility facilities and access therefore and <br />maintenance thereof; the right to conduct any activity upon the Easement Parcel which promotes <br />the security of the Easement, Easement Parcel or the Property or any persons or property located <br /> <br />3 <br />