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• 40 CJ It. The GRANTEE shall be entitled to the salvage value of any grant -designated derelict vessel or any part(s) or accessories thereof, excluding the hull, not used in the construction of a permitted artificial reef site. All such salvage activities not essential to the physical removal of a derelict vessel shall be accomplished after the vessel has been removed from public waters. The salvage value of each vessel shall be deducted by the GRANTEE when determining the removal and disposal costs for each derelict vessel. i. The GRANTEE agrees that all work shall be performed satisfactorily as determined by the COMMISSION by competent employees experienced and qualified to do the work specified in this Agreement, and that all work will be performed in accordance with the best commercial practices and without unnecessary delays. The GRANTEE and its subcontractors shall use suitable, modern equipment necessary for the satisfactory execution of this Agreement. j. The GRANTEE shall not be entitled to payment from grant funds for any designated derelict vessel for which the removal and disposal of same was accomplished prior to the award of the grant or subsequent to the close of the grant period established by the COMMISSION. k. The GRANTEE shall maintain insurance coverage, either through a self-insurance program or purchase of coverage from an authorized insurer. to protect the GRANTEE from any and all claims, including pollutant spillage and death, which may arise from operations under this Agreement. The GRANTEE'S insurance shall, at a minimum be sufficient to pay a claim or a judgement, or portions thereof, of $200,000 per incidence or occurrence. The GRANTEE shall require any subcontractor to carry insurance coverage as necessary to protect the subcontractor and GRANTEE from any and all claims arising out of the subcontractor's participation in activities related to this program. Certificates of such insurance shall be subject to the approval of the COMMISSION for adequacy of protection and name the COMMISSION, the Board of Trustees of the Internal Improvement Trust Fund and the State of Florida as additional insureds. All certificates of insurance shall contain a provision that the insurance will not be cancelled for any reason except after thirty(30) days written notice to the COMMISSION'S project manager. 1. To the extent required by law, the GRANTEE will be self-insured against, or will secure and maintain during the life of this Agreement, Workers' Compensation Insurance for all of his employees connected with the work of this project and, in case any work is subcontracted, the GRANTEE shall require the subcontractor similarly to provide Workers' Compensation Insurance for all of the latter's employees unless such employees are covered by the protection afforded by the GRANTEE. Such self-insurance program or insurance coverage shall comply fully with the Florida Workers' Compensation law. In case any class of employees engaged in hazardous work under this Agreement is not protected under the Workers' Compensation statute, the GRANTEE shall provide, and cause each subcontractor to provide, adequate insurance satisfactory to the COMMISSION, for the protection of his employees not otherwise protected. The GRANTEE agrees to supply the COMMISSION with proof of insurance, the types and coverage outlined by the COMMISSION. The GRANTEE shall provide to the COMMISSION a true copy of the insurance herein required prior to the execution of the related agreement through the issuance of a purchase order or the execution of a formal contract. DVN00-1I FWCC00068 Page 2 of 10