INSURANCE- The lessee agrees to purchase the following insurance coverage’s prior to the equipment’s arrival on the job site. The lessee shall procure the following coverage’s for lessor: a) worker’s compensation and employer’s liability insurance, with limits of at least the statutory minimum or $1,000,000 , whichever is greater, b) primary non-contributory commercial general liability insurance on an occurrence basis, including bodily injury and property damage coverage with minimum limits of $1,000,000 per occurrence and $2,000,000, in the aggregate. c) inland marine/all risk physical damage insurance, on a primary non-contributory basis, to cover the full insurable value of the equipment, including any boom or jib, for its loss or damage from any and all causes, including, but not limited to, overloading, misuse, fire, theft, flood, explosion, overturn, accident, and acts of god occurring during the rental term, for the greater of $1,000,000 or the valuation of the equipment listed on the front page of this contract, and the parties agree that this is the actual value of the equipment for the purposes of fixing the equipment’s insurable value, d) all policies are to be written by insurance companies acceptable to the lessor, e) the lessor and all affiliated partnerships, joint ventures, corporations and anyone else who lessor is required to name as an additional insured, are to be included as additional insureds on all liability insurance policies, including excess/umbrella policies (ISO Form CG 20 10 11 85 must be used). lessee shall name lessor as a Loss Payee on all insurance policies, and lessee shall provide all insurance certificates to lessor when requested, f)all policies shall be endorsed to require the insurer to give thirty (30) days advance notice to all insureds prior to cancellation, g) all of lessors’, and anyone lessor is required to insure, policies are excess over all of lessee’s policies. In the event of loss proceeds of property damage insurance on the equipment shall be made payable to lessor. Lessee’s agreements to indemnify and hold lessor harmless from any liability damage and loss are in addition to, and not an alternative to, these insurance provisions and the purchase of any of the above coverages shall not operate to waive any of the above indemnity provisions. To the extent that the lessee may perform under this lease without obtaining the above coverages, such an occurrence shall not operate, in any way, as a waiver of the lessor’s right to maintain any breach of contract action against the lessee. Lessee hereby agrees to waive any and all rights of subrogation and any and all lien rights (including those arising from worker’s compensation/employer’s liability policies or other employee benefit programs, commercial general liability policies, or similar policies) which may accrue to it or its insurers. This shall include, but not be limited to, rights of subrogation and lien rights. The lessee understands that this waiver shall bind its insurers of all levels, and agrees to put these insurers on notice of this waiver and to have any necessary endorsements added to the insurance policies applicable to this lease.