Appendix C - Insurance Requirements.pdf

Request for Lease Proposal No. AFCEC-26-R-0007 Page 1 of 4 Nellis Air Force Base, NV EUL Appendix C

United States Department of the Air Force

Air Force Civil Engineer Center

(AFCEC)

Enhanced Use Leasing Project Nellis Air Force Base

Request for Lease Proposal (RFLP) Appendix C

Insurance Requirements

RFLP No. AFCEC-26-R-0007

Request for Lease Proposal No. AFCEC-26-R-0007 Page 2 of 4

APPENDIX C

INSURANCE REQUIREMENTS

Insurance Requirements Checklist Insured: (Project Owner) Base Name: Nellis AFB Policy Inception: Policy Expiration:

Following items apply to All Coverages and should be on all Certificates:

Named Insured/Loss Payee Certificate Holder United States Air Force c/o AFCEC Portfolio Manager 2261 Hughes Ave., Ste. 155 San Antonio, Texas 78236-9853

(Interest must be full name without abbreviation) Address (Street, City, State, Zip Code)

Insurance Company AM Best Rating Rating of A- / VIII or better.

Notice of Cancellation/ Material Change 10 days, including nonpayment of premium.

Verify certificate signed and dated Signature of Authorized Signatory for Lessee.

Waiver of Subrogation Insurer shall have no right of subrogation against the

Government.

Property Insurance

Evidence of Property Insurance Form Acord Form 27

Certificates Required Limits This insurance should be obtained upon completion of construction.

All Risk, on a replacement cost basis, with no coinsurance.

Full replacement cost value of the buildings, building improvements, and personal property belonging to the Property.

Property Insurance Deductible. No greater than $10,000.

Earthquake coverage and Deductible. Limits and deductibles as commercially available.

Flood coverage and Deductible. Limits and deductibles as commercially available.

Loss of Rents with extended period of indemnity of 180 days.

Actual Loss Sustained not less than gross rents for one (1) year.

Boiler and Machinery coverage and Deductible.

Limits and deductibles as commercially available.

Sewer Backup coverage and Deductible.

Limits and deductibles as commercially available.

Terrorism Insurance. Limits and deductibles if available at reasonable rates.

FOR SUBLESSEES ONLY: All Risk, including business personal property, improvements and betterments, and business interruption subject to an extended period of indemnity.

Business Interruption: one (1) year of gross rents;

All Other Property: Limits based on full replacement cost value.

Request for Lease Proposal No. AFCEC-26-R-0007 Page 3 of 4

Commercial General Liability

Certificate of Insurance Acord Form 25

Certificates Required Limits This insurance should be obtained for operations during or after construction at the Leased Premises.

Bodily injury (including death), personal and advertising injury and property damage, to include coverage for fire, legal liability, and medical payments. Includes including independent contractors and contractual liability. Primary and non-contributory. Combination of primary liability and excess/umbrella liability policies can be used.

Between $1,000,000 and $100,000,000 per occurrence, products-completed operations aggregate, and general aggregate per location or per project.

FOR SUBLESSEES ONLY: Primary and non-contributory to any insurance maintained by the Government or Approved Mortgagee. Government designated as Named Insured.

At least $2,000,000 per occurrence and $2,000,000 annual aggregate.

Business Auto Evidence of crime insurance or a fidelity bond.

Any auto (Owned, Hired and Non Owned).

Combined Single Limit of at least $1,000,000 per accident.

Certificate of Insurance Acord Form 25 Crime Evidence of crime insurance or a fidelity bond.

Limits adequate to protect Lessee if this exposure exists.

Certificate of Property Insurance Form Acord Form 27 Environmental Liability or Pollution Legal Liability

Includes coverage for mold. Limits adequate to protect Lessee if this exposure exists.

Underground Storage Tank Environmental Insurance

If any USTs located on the Property. Limits adequate to protect Lessee if this exposure exists.

Acord Form 25

Workers' Compensation Employees Statutory limits

Acord Form 25

FOR SUBLESSEES ONLY:

Employees

Statutory limits

Employers’ Liability

Employers Liability, including third-party property coverage.

Limits of at least $1,000,000 each accident, per disease-each employee, and per disease-policy limit respectively.

Certificate of Insurance Acord Form 25

FOR SUBLESSEES ONLY:

Employers Liability.

Limits of at least $1,000,000 each accident, per disease-each employee, and per disease-policy limit respectively.

Request for Lease Proposal No. AFCEC-26-R-0007 Page 4 of 4

Builder's Risk

Evidence of Property Insurance Form Acord Form 27

Certificates Required Limits This insurance should be obtained upon commencement of construction.

Building and/or improvements on the Leased Premises.

Full replacement cost value of the Building and/or Improvements of the Leased Premises.

FOR SUBLESSEES ONLY:

This insurance should be obtained upon commencement of construction IF Lessee does not carry such coverage.

Building and/or improvements on the Leased Premises.

Full replacement cost value of the Building and/or Improvements of the Leased Premises.

Note: Acord Form References are typically standard forms used. Some insurance companies have their own version of these forms. Declarations pages from policies and insurance summaries are not considered acceptable evidence of coverage.

All insurance requirements are deal specific and need to be completed in accordance with the transaction.