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7.3 Insurance. The Company and the District each shall obtain and maintain throughout the
<br />Operating Term at its expense the following insurance coverage from insurers who are
<br />licensed in the State of Florida and have a current rating of B+ or better in "Best's Key
<br />Rating Guide" and be named additional insured on each parry's respective policies:
<br />(a) Workers' Compensation Insurance. Workers' compensation coverage must be
<br />maintained in accordance with current statutory requirements;
<br />(b) Employer's Liability Insurance. Employer's liability coverage shall have a
<br />minimum limit of liability of $100,000 per occurrence, $100,000 by disease, and
<br />$500,000 aggregate by disease;
<br />(c) Liability Insurance. Commercial general liability insurance and automobile
<br />liability shall have a minimum combined single limit of liability of $1,000,000 for
<br />personal bodily injury, including, without limitation, death, and property damage.
<br />(d) Excess Coverage. Umbrella or excess liability coverage in the amount of
<br />$2,000,000 shall be maintained.
<br />7.4 Environmental Impairment Insurance. The Company shall procure environmental
<br />impairment insurance and maintain such insurance in full force and effect at all times
<br />during the Term of this Agreement. The environmental impairment insurance shall provide
<br />coverage with minimum limits of $2,000,000 per occurrence, if an occurrence form is
<br />available, or with a "claims made" form with "tail coverage" extending three (3) years
<br />beyond the termination or expiration of this Agreement. Proof of insurance shall be
<br />provided to the District at least fifteen (15) days before the COD. Proof of tail coverage
<br />shall be submitted by the Company to the District when it sends the Company's invoice
<br />for its final payment. In lieu of tail coverage, the Company may submit annually to the
<br />Company a current certificate of insurance proving that claims made insurance remains in
<br />force throughout the same three (3) year period. Such insurance shall provide coverage for
<br />pollution and environmental remediation. The form and content of the insurance coverage,
<br />as well as the financial stability of the company issuing the insurance, shall be subject to
<br />the prior review and approval of the District. The District shall be added as a named insured
<br />on the insurance policy, but only with regard to liability arising as a result of any occurrence
<br />that impacts the operation by the Company of the Evaporation Plant during the Term.
<br />7.5 Limitation of Liability: NEITHER PARTY SHALL BE LIABLE FOR ANY
<br />CONSEQUENTIAL, INCIDENTAL, INDIRECT, SPECIAL, OR PUNITIVE
<br />DAMAGES ARISING OUT OF THIS AGREEMENT AND each Party waives all claims
<br />against the other Party (and against the affiliates of each, and their respective members,
<br />shareholders, officers, directors, agents and employees) for any such consequential,
<br />incidental, indirect,,special, or punitive damages arising out of this Agreement regardless
<br />of whether any such claim arises out of breach of contract, guaranty or warranty, tort,
<br />product liability, indemnity, contribution, strict liability or any other legal theory. For the
<br />avoidance of doubt, except as expressly provided herein, the Company will not be liable
<br />for any loss of profit or revenue, loss of business, downtime costs, cost of capital, or for
<br />any indirect and/or consequential losses whatsoever. The Company's liability for torts
<br />hereunder will be limited to the same extent that the District's under Section 768.28(5),
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