7/30/1980 - Laserfiche WebLink

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JUL 3 01980 --BOOK A pu ga INSURANCE FOR BENEFIT OF FLORIDA EAST COAST RAILWAY COMPANY TO BE OBTAINED AND KEPT IN FULL FORCE AND EFFECT AT COST OF CONTRACTOR In further consideration of the sums of money herein specified to be paid to Contractor, Contractor, at its cost and expense, shall ob- tain and keep in effect insurance policy or policies in the limits of $1,000,000.00 each person injured or killed and $2,000,000.00 each accident occurrence and $1,000,000.00 property damage per person and $20000,000.00 property damage each accident occurrence'directly by Constractual Liability Endorsement to Contractor's General Public Liability and Property Damage Insurance Policies insuring Contractor against loss or damage to Contractor upon the indemnities and within the limits specified in the foregoing paragraph. Alternatively, Con- tractor may procure and keep in effect during the life of this con- struction contract as aforesaid Railroad Protective Liability Policies insuring Florida East Coast Railway Company directly as insured against losses and damages but within the limits specified in the foregoing indemnity paragraph. All such insurance, directly or indirectly for the benefit of the Florida East Coast Railway Company, shall be in a form satisfactory to i:cs Manager of Insurance and issued by a casualty company -insurance company authorized to do business in the State of Florida and have a 'bests' rating of not less than Four R's or better.