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EXHIBIT A <br />INSURANCE REQUIREMENTS <br />L PROPERTY INSURANCE <br />An ORIGINAL (or evidence acceptable to City of) Special Form (or so-called All Risk) <br />Hazard Insurance POLICY naming Developer as an insured, reflecting coverage of 100% of the <br />replacement cost, and written by a carrier approved by City with a current A.M. Best Company <br />rating of at least A:VII (which is authorized to do business in the State of Minnesota), that <br />includes: <br />City's Loss Payable Endorsement naming the City of Elk River, Minnesota, in <br />Elk River, Minnesota <br />30 -day notice to City in the event of cancellation or non -renewal by either party <br />or material adverse change <br />Replacement Cost Measure of Recovery <br />Stipulated Value/Agreed Amount Endorsement (No Coinsurance) <br />Boiler and Machinery Coverage (including business income, extra expense <br />coverage) <br />Flood Insurance <br />One (1) year's business interruption, leasehold interest and/or rent loss insurance <br />in an amount acceptable to City <br />Extra expense coverage in an amount acceptable to City <br />"Contingent Liability from Operation of Building Laws" coverage, "Demolition <br />Costs" coverage, "Increased Cost of Construction" coverage, and "Increased <br />Time to Rebuild" Coverage, with such additional limits for such coverages as <br />City may reasonably require <br />No exclusion for "Collapse" <br />Earthquake Coverage <br />Deductible not to exceed $5,000 <br />IL LIABILITY INSURANCE <br />An ORIGINAL (or evidence acceptable to City of) Commercial General Liability <br />Insurance POLICY (Insurance Services Offices policy form title) naming Developer as an <br />insured, providing coverage on an "occurrence" rather than a "claims made" basis, and written <br />by a carrier approved by City with a current A.M. Best Company rating of at least A:VII (which <br />is authorized to do business in the State of Minnesota), that includes: <br />Combined general liability policy limit of at least $2,000,000.00 each occurrence, <br />applying to liability for Bodily Injury, Personal Injury and Property Damage, <br />which combined limit may be satisfied by the limit afforded under the <br />Commercial General Liability Policy, or by such Policy in combination with the <br />limits afforded by an Umbrella or Excess Liability Policy (or policies); provided, <br />that the coverage afforded under any such Umbrella or Excess Liability Policy is <br />476682v1 EL185-31 A-1 <br />