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04/03/2018
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04/03/2018
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1/11/2021 3:07:46 PM
Creation date
4/17/2018 5:18:30 PM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
04/03/2018
Meeting Body
Board of County Commissioners
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c. Consolidation — Merger Or Acquisition <br />If you consolidate or merge with, or <br />purchase or acquire the assets or liabilities <br />of, another entity: <br />(1) You must give us written notice as soon <br />as possible and obtain our written <br />consent to extend the coverage <br />provided by this insurance to such <br />consolidated or merged entity or such <br />purchased or acquired assets or <br />liabilities. We may condition our consent <br />by requiring payment of an additional <br />premium; but <br />(2) For the first 90 days after the effective <br />date of such consolidation, merger or <br />purchase or acquisition of assets or <br />liabilities, the coverage provided by this <br />insurance shall apply to such <br />.consolidated or merged entity or such <br />purchased or acquired assets or <br />liabilities, provided that all "occurrences" <br />causing or contributing to a loss <br />involving such consolidation, merger or <br />purchase or acquisition of assets or <br />liabilities, must take place after the <br />effective date of such consolidation, <br />merger or purchase or acquisition of <br />YJJ�..tV Vr ii4bifi les, <br />d. Cooperation <br />You must cooperate with us in all matters <br />pertaining to this insurance as stated in its <br />terms and conditions. <br />e. Duties In The Event Of Loss <br />After you "discover" a loss or a situation <br />that may result in loss of or damage to <br />"money", "securities" or "other property", <br />you must: <br />(1) Notify us as soon as possible. If you <br />have reason to believe that any loss <br />(except for loss covered under Insuring <br />Agreement A.I. or A.2.) involves a <br />violation of law, you must also notify the <br />local law enforcement authorities; <br />(2) Give us a detailed,. sworn proof of loss <br />within 120 days; <br />(3) Cooperate with us in the investigation <br />and settlement of any claim; <br />(4) <br />(5) <br />Page 6 of 15 <br />(6) Secure all of your rights of recovery <br />against any person or organization <br />responsible for the loss and do nothing <br />to impair those rights. <br />Employee Benefit Plans <br />The "employee benefit plans" shown in the <br />Declarations (hereinafter referred to as <br />Plan) are included as Insureds under <br />Insuring Agreement A.1., subject to the <br />following: <br />(1) If any Plan is insured jointly with any <br />other entity under this insurance, you or <br />the Plan Administrator is responsible for <br />selecting a Limit of Insurance for <br />Insuring Agreement A.I. that is <br />sufficient to provide a Limit of Insurance <br />for each Plan that is at least equal to <br />that required under ERISA as if each <br />Plan were separately insured. <br />(2) With respect to loss .sustained or <br />"discovered" by any such Plan, Insuring <br />Agreement A.1. is replaced by the <br />following: <br />We will pay for loss of or damage to <br />"money", "securities" and "other <br />property" resulting directly from <br />fraudulent or dishonest acts committed <br />by an "employee", whether identified .or <br />not, acting alone or in collusion with <br />other persons. <br />(3) If the first Named Insured is an entity <br />other than a Plan, any payment we <br />make for loss sustained by any Plan will <br />be made to the Plan sustaining the loss. <br />(4) If two or more Plans are insured under <br />this insurance, any payment we make <br />for loss: <br />(a) Sustained by two or more Plans; or <br />(b) Of commingled "money", "securities" <br />or "other property" of two or more <br />Plans; <br />resulting directly from an "occurrence", <br />will be made to each Plan sustaining <br />loss in the proportion that the Limit of <br />Insurance required under ERISA for <br />each Plan bears to the total of those <br />limits. <br />Produce for our examination all (5) The Deductible Amount applicable to <br />pertinent records; Insuring Agreement A.1. does not apply <br />Submit to examination under oath at our to loss sustained by any Plan. <br />request and give us a signed statement <br />of your answers; and <br />154 <br />©insurance Services Office, Inc., 2015 CR 00 21 11 15 <br />
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