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Reso 2011-1796
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Reso 2011-1796
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Last modified
11/21/2011 3:57:44 PM
Creation date
11/21/2011 3:57:43 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2011-1796
Date (mm/dd/yyyy)
11/17/2011
Description
Risk Insurance: Fishing Pier w/Brown & Brown/Lloyds of London
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<br />r . <br />1 <br /> <br />f' <br />I <br /> <br />; - <br /> <br />" <br /> <br />. j <br /> <br />J <br /> <br />Co-Insurance: <br /> <br />J <br /> <br />Deductible: <br /> <br />1 <br /> <br />.J <br /> <br />.1 <br /> <br />-1 <br /> <br />,1 <br /> <br />..l <br /> <br />.J <br /> <br />Property Of Others (including items supplied by the owner or for which the <br />Insured is legally responsible) - The cost to repair or replace the property lost or <br />damaged with material of like kind and quality including contractor's charges <br />incurred prior to loss and related to such property, if any, less betterment, or the <br />property owner's cost, whichever is less <br /> <br />Existing Property - The cost to repair or replace the lost or damaged property with <br />material of like kind and quality valued as of the time and place of loss. In the event <br />that repair or replacement with materials of like kind and quality can not be effected <br />due to obsolescence or non-availability of such materials or the means and <br />methods of fabricating, manufacturing, or installing such materials, repair or <br />replacement shall be effected with materials, means and / or methods that are <br />functionally equivalent to the lost or damaged property but excluding betterment. If <br />not so replaced, loss shall be settled at Actual Cash Value (the cost to repair or <br />replace as determined above, less depreciation) <br /> <br />Plans, Blueprints, Drawings, Renderings, Specifications Or Other Contract <br />Documents And Models - The cost to reproduce with property of like kind and <br />quality including the cost of gathering or assembling information from back up data <br />if replaced. If not replaced - the value of blank material <br /> <br />Trees, Shrubs, Plantings And Landscaping - The cost to replace with property <br />of like kind, quality and size plus the proper proportion of labor expended if such <br />damage occurs after installation <br /> <br />Property In Transit - The invoice cost plus accrued shipping charges less <br />shipper's liability, if any <br /> <br />Delay In Completion Coverage - Actual Loss Sustained per policy endorsement <br />if applicable. <br /> <br />No coinsurance applicable. <br /> <br />The applicable amount shown below shall be deducted for each claim arising <br />from insured loss or damage in anyone occurrence. The Company shall be liable <br />only for its proportion of the amount of insured loss or damage in excess thereof, <br />subject to all terms and conditions of the policy. <br /> <br />In the event that more than one physical damage deductible shall apply to <br />insured physical loss or damage in anyone occurrence, only the largest shall be <br />applied. <br /> <br />If Delay In Completion coverage is provided by this Policy, the Deductible Period <br />shown below will always be applied in addition to any dollar deductible or <br />percentage (%) deductible stated for physical damage <br />. $10,000 Per Occurrence Physical loss of or damage to property insured, <br />except <br />. $10,000 Physical Damage to Property in Transit (per conveyance) <br />. $10,000 Physical Damage to Property in Offsite Temporary Storage and/or <br />Offsite Fabrication <br />. $10,000 Physical Damage to Trees, Plants, Shrubs and Landscaping; <br /> <br />3 <br />
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