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2. EDC <br />John Cox <br />President & CEO <br />Cabarrus Economic Development, Inc. <br />3003 Dale Earnhardt Blvd <br />Kannapolis NC, 28083 <br />Fax 704 -782 -4050 <br />D. Insurance and Liability. The EDC will maintain worker's compensation and <br />employer's liability insurance for employees as required by law. EDC shall <br />maintain insurance policies at all times with minimum limits as follows. <br />Coverage and Minimum Limits <br />a. Workers' Compensation <br />i. $100,000 each accident <br />ii. $100,000 by disease limit —each employee <br />iii. $500,000 by disease policy limit <br />b. General Liability: $1,000,000 per occurrence /$2,000,000 general <br />aggregate <br />c. Automobile Liability: $1,000,000 each accident (coverage also provided <br />for hired and non -owned autos) <br />d. Excess/Umbrella: $1,000,000 per occurrence <br />2. EDC shall provide the County with a Certificate of Insurance for review prior <br />to the issuance of any contract or Purchase Order. All Certificates of <br />Insurance will require thirty days (30 days) written notice by the insurer or <br />EDC's agent in the event of cancellation, reduction or other modifications of <br />coverage. In addition to the notice requirement above, EDC shall provide the <br />County with immediate written notice of cancellation, reduction, or other <br />modification of coverage of insurance. Upon failure of the EDC to provide <br />such notice, EDC assumes sole responsibility for all loses incurred by the <br />County for which insurance would have provided coverage. The insurance <br />certificate shall be for the initial contract period of one (1) year and shall be <br />renewed by the EDC for each subsequent renewal period of the contract. <br />3. The County shall be named as an additional insured and it is required that <br />coverage be placed with "A" rated insurance companies acceptable to the <br />County. Statement should read, " Cabarrus County is to be added as an <br />additional insured as evidenced by an endorsement attached to this <br />certificate." Failure to maintain the required insurance in force may be cause <br />for contract termination. In the event that the EDC fails to maintain and keep <br />in force the insurance herein required, the County has the right to cancel and <br />terminate the contract without notice. <br />E. Indemnification. The EDC shall, to the fullest extent permitted by law, <br />indemnify, defend, and hold harmless the County from and against any and all <br />Attachment number 1 <br />G -3 Page 499 <br />