1998 AGN FEB 03 I26 - Laserfiche WebLink

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EXHIBIT E INSURANCE AUTHORIZATION LETTER 1. To: Agent's Name Address: Insurance Company: Policy Number:Exp. Date: Fax Phone In connection with Lease No. between City Of Colton ("Lessee") and AEL Leasing Co., Inc. t/a American Equipment Leasing ("Lessor"), you are hereby authoFized and instructed to provide to Lessor evidence of insurance for the coverages and endorsements indicated below. Evidence of insurance in the form of a certificate is acceptable until formal endorsements can be issued. Please provide the evidence of insurance to Lessor. The insurance requirements listed below are required to cover the "Equipment described in the Lease. LIABILITY REQUIREMENTS A. Public liability insurance, both personal injury and property damage, with a single limit of $1,000,000 per occurrence. 18. Endorsement naming Lessor as an additional insured with respect to this Equipment. PROPERTY DAMAGE REQUIREMENTS A. All risk extended coverage, malicious mischief and vandalism, for not less than $256,970.00 , _ (greater of full replacement value or Purchase option amount.) B. Endorsement naming.Lessor as a co -loss payee with respect to this Equipment. GENERAL REQUIREMENTS A. Endorsement giving Lessor thirty days' prior written notice of the effective date of any material alteration or cancellation of such coverage. B. Endorsement confirming that the interest of Lessor shall not be invalidated by any actions, inactions, breach of warranty or conditions or negligence of the undersigned Customer. OR 2. Lessee hereby warrants and represents that it is self insured for all risk, physical damage and public liability and will provide proof of such self insurance in either form together with a copy of the statute authorizing this form in insurance. LESSEE: City of Colton By: TITLE Date;