INSURANCE AND INCIDENT POLICIES
HAULING, GENERAL SITE SERVICES & DISPOSAL AGREEMENT
General Liability Policy: Customer shall obtain and keep in force a Commercial General Liability policy of insurance protecting Customer and Company as an additional insured against claims for bodily injury, personal injury and property damage based upon or arising out of the (a) use and maintenance of the Equipment leased to Customer by Company, (b) the waste (of any nature whatever) tendered to Company for delivery. Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than $1,000,000 per occurrence with an annual aggregate of not less than $1,000,000.
Property Insurance. Customer shall obtain and maintain insurance coverage on the Equipment. Such insurance shall be full replacement cost coverage with a deductible of not to exceed $1,000 per occurrence, and shall name Company as an additional insured. The proceeds from any such insurance shall be used by Customer for the replacement or repair of Equipment.
Insurance Policies. Customer shall not do or permit to be done anything which invalidates the required insurance policies. Customer shall, if requested by Company, deliver to Company copies of policies of such insurance or certificates with copies of the required endorsements evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after 30 days prior written notice to Company. Customer shall, if requested by Company, furnish Company with evidence of renewals or “insurance binders” evidencing renewal thereof, at least 10 days prior to the expiration of such policies. Such policies shall be for a term of at least one year, or the length of the remaining term of the Hauling, General Site Services & Disposal Agreement, whichever is less. If Customer shall fail to procure and maintain the insurance required to be carried by it, Company may, but shall not be required to, procure and maintain the same and charge Customer with the costs therefor.
Incidents. “Incident” means any fine, citation, theft, accident, casualty, loss, vandalism, injury, death or damage to person or property, claimed by any person or entity that appears to have occurred in connection with the Equipment. Equipment is considered “lost” when it is either stolen, its location is unknown, or You are unable to recover it for a period of 30 days.
After an Incident, Customer shall (a) immediately notify Company, the police, if necessary and Customer’s insurance carriers; (b) secure and maintain the Equipment and the surrounding premises in the condition existing at the time of such incident, until Company or its agents investigate; (c) immediately submit copies of all police or other third party reports to Company; and (d) as applicable, pay Company, in addition to other sums due herein, the rental rate for Equipment until the repairs are completed or Equipment replaced plus either (i) the full replacement cost, or (ii) the full charges of repairs of damaged Equipment, at Company’s request. Accrued rental charges shall not be applied against these amounts. Company shall have the immediate right, but not obligation, to reclaim any Equipment involved in any Incident.