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HomeMy WebLinkAboutA7135 - SPERRY VAN NESS - RE Brokerage CONSULTING SERVICES AGREEMENT (Real Estate Sales and Marking Sperry Van Ness Rich Investment Real Estate Partners;Inc.) THIS AGREEMENT FOR CONSULTING SERVICES- ("Agreement's is made and entered into on May 1_, 2018,8 by and between .the Successor Agency to the :Palm Springs Community Redevelopment Agency ("City"), and Sperry Van Ness — Rich Investment Real Estate Partners,Inc., a corporation,("Consultant"). City and Consultant are individually referred to as"Party" and are collectively referred to as the"Parties". RECITALS A. City requires the services of a real estate sales and marketing firm, for a certain real property Iocated at 342 N. Palm Canyon Drive, City of Palm Springs, County of Riverside, State of California, and more particularly described as a freestanding: retail building, of approximately 1590.square feet and land area of approximately 2048 square feet("Project"). B. Consultant has submitted to City a proposal to provide real estate sales and marketing services, to City under the terms of this Agreement. C. Based on its experience, education; training; and reputation,. Consultant. is qualified and desires to provide the necessary services to City for the Project. D. City desires to retain the services of Consultant for the Project. In considerationof these promises and mutual agreements,City agrees as follows: AGREEMENT 1. CONSULTANT SERVICES 1.1 Scope of Services. In compliance with all terms and conditions of this Agreement, Consultant shall provide real estate sales and marketing services to City as described in the Scope of Services/Work attached to this Agreement as Exhibit "A and incorporated by reference (the "services" or "work"). Exhibit "A" includes the agreed upon schedule of performance and,the schedule of fees. Consultant warrants that all services and work shall be performed in a :competent, professional, and satisfactory manner consistent with prevailing industry standards. In the event of any inconsistency between the terms contained in the Scope of Services/Work and the terms set forth ian'this Agreement, the terms set forth in this Agreement shall govern. 1.2 Co Nance with Law. Consultant services rendered under this Agreement shall comply with all applicable federal, state, and local laws, statutes and ordinances and all lawful orders,rules, and regulations. 13 Licenses and Permits. Consultant shall obtain at its sale cost and expense such licenses, permitsand-approvals as may be required by law for the performance of the services required by this Agreement. ORIGINAL BID ANDIOR AGREEMENT 1A Familiarity with.Work. By executing this Agreement, Consultant warrants that. it has carefully considered how the work should be performed and fully understands the facilities,difficulties; and restrictions attending performance of the work under this Agreement. 2. TIME FOR COMPLETION The time for ,completion of the services to be performed by Consultant is an essential condition of this Agreement. Consultant shall prosecute regularly and diligently the work of this Agreement according to the ,agreed upon schedule of performance set forth in Exhibit "A." Consultant shall not be accountable for delays in the progress of its work caused by any condition beyond its contrail and without the fault or negligence of Consultant. Delays shall not entitle Consultant to any additional compensation regardless of the party responsible for the delay. 3. COMPENSATION OF CONSULTANT 3.1 Compensation of Cansultant. Consultant shall be compensated and reimbursed for the services rendered under this Agreement in accordance with the schedule of fees set forth in Exhibit "A". The total amount of-Compensation shall not exceed Twenty Four Thousand Nine Hundred Ninety Nine$24,999.00. 3.2 Method of Payment. _Payments shall be based on the terms set forth in Exhibit "A" for authorized services performed. City shall pay Consultant within thirty (30) days of receipt of Consultant's invoice.. 33 Changes. In the event any change or changes in the Scope of Services/Work is requested by City, Parties shall execute a written amendment to this Agreement, specifying all proposed amendments, including,but not limited to, any additional fees. An amendment may be entered into: A. To,provide for revisions or modifications to documents, work_.product, or work, when required'bythe enactment or revision of any subsequent law; or B. To provide for additional services not included in this Agreement or not customarily furnished in accordance with generally accepted practice in Consultant's profession. 3.4 A-ppropriatitrns. This Agreementis subject to, and contingent upon, funds being appropriated by the City Council of City for each fiscal year. If such appropriations are not made,this Agreement shall automatically terminate without penalty to City. 4. PERFORMANCE SCHEDULE 4.1 Time of Essence. Time is of the essence in the performance of this Agreement. 4.2- Schedule of Performance. All services rendered under this Agreement shall,be performed under the agreed upon schedule of performance set forth in Exhibit "A." Any time period extension must be approved in writing by the Contract Officer. 2 4.3 Force 1Mlaieure. The time for performance of services to be rendered under this Agreement may be extended because of any delays due to unforeseeable causes beyond the control and without the fault or negligence of Consultant, if Consultant notifies the Contract Officer within ten (10) days of the commencement of such condition. Unforeseeable causes include, but are not limited to, acts of God or of a public enemy, acts of the government, fires, earthquakes, floods, epidemic, quarantine restrictions, riots, strikes, freight embargoes, and unusually severe weather. After Consultant notification, the Contract Officer shall investigate the facts and the extent of any necessary delay,mW extend the time for performing the services for the period of the enforced delay when and if, in the Contract Officer's judgment, such delay is justified. The Contract Officer's determination shall be final and conclusive upon the parties to this Agreement. 4A Term- Unless earlier terminated in accordance with: Section 4.5 of this Agreement, this Agreement shall continue in full force and effect for a period of two months, commencing an May. 1, 2018 and ending on.tune 30, 2018, unless extended by mutual written agreement of the parties. 45 Termination Prior.to Expiration of Tenn. City may terminate this Agreement at any time, with or without cause, upon thirty (30) days written notice to Consultant. Where termination is due to the fault of Consultant and constitutes an irninediate danger to health, safety,and general welfare, the period of notice shall,be such shorter time as may be determined by the City. Upon receipt of the notice of termination, Consultant shall immediately cease all services except such as may he specifically approved by the Contract Officer. Consultant shall be entitled to compensation for all services rendered prior to receipt of the notice of termination and for any services_ authorized by the Contract Officer after such. notice. Consultant may terminate this Agreement, with or without cause,upon thirty(30)days written notice to City. 5. COORDINATION OF WORK 51 Representative of CAmsultant. The following principal of Consultant is designated as being the principal and representative of Consultant authorized to act and make all decisions in its behalf with respect to the specified services and work: Mark Spohn, Vice President. It is expressly understood that the experience; knowledge, education, capability, and reputation of the foregoing principal is a substantial inducement for City to enter into this Agreement. Therefore, the foregoing principal shall be responsible during the term of this Agreement for directing all activities of Consultant and devoting sufficient time to personally supervise the services under this Agreement. The foregoing principal may not be changed by Consultant without prior written approval.of the Contract Officer. 5.2 Contract Officer. The Contract Officer shall be the City Manager or his/her designee ("Contrast Officer"). Consultant shall be responsible for keeping the Contract Officer fully informed of the progress of the performance of the services. Consultant shall refer any decisions that must be made by City to the Contract Officer. Unless otherwise specified, any approval of City shall mean the approval of the Contract Officer. 3 ..3 ProldWtion Against Subcontraefim or Amignment. The experience, knowledge, education, capability, and reputation of Consultant, its principals and employees, were a substantial inducement for City to enter into this Agreement. Therefore, Consultant shall not contract with any other individual or entity to perform any services required under this Agreement without the City's express written approval. In addition, neither this Agreement nor any interest may be assigned or transferred, voluntarily or by operation of law, without the prior written approval of City. 5.4 independent Contractor. Neither City nor any of its employees shall have any control over the manner;mode;or means by which Consultant, its agents or employees,perform the services required, except as otherwise specified. Consultant shall perform all required services as an independent Consultant of City and shall not be an employee of City and shall remain at all times as to City a wholly independent Consultant with only such obligations as are consistent with that role; however, City shall have the right to review Consultant's work product, result, and advice. Consultant shall not at any time or in any manner represent that it or any of its agents or employees are agents or employees of City. 55 .Personnel. Consultant agrees to assign the following individuals to perform the services in this Agreement. Consultant shall not alter the assignment of the following personnel without the prior written approval of the Contract'Officer. Acting through the City-Manage,the City shall have the unrestricted right to order the removal of any personnel assigned by Consultant by providing written notice to Consultant. Name: Title: Mark Spohn Vice President 6. INSURANCE Consultant shall procure and maintain, at its sole cost.and expense, policies of insurance as set forth in the attached Exhibit "B", incorporated herein by reference. 7� INDEMNIFICATION. 7.1 Indewn&kAflon. To the fullest extent permitted by law, Consultant shall defend (at Consultant's sole cost and expense), indemnify, protect, and hold harmless City, its elected officials, officers, employees, agents, and volunteers (collectively the "Indemnified Parties"), from and against any and all liabilities, actions, suits, claims, demands, losses, costs, judgments, arbitration swards,settlements, damages, demands, orders, penalties, and expenses including legal costs and attorney fees (collectively "Claims"), including but not limited to Claims arising from injuries to or death of persons (Consultant's employees included), for damage to property, including property owned by City, from any violation of any federal, state, or local law or ordinance, and from errors and omissions committed by Consultant, its officers, employees, representatives, and agents, that arise out of or relate to Consultant's performances under this Agreement. This 'indemnification clause excludes Claims arising from the sole negligence or willful misconduct of the City, its elected officials, officers, employees, agents, and volunteers. Under no circumstances shall the insurance requirements and limits set forth in 4 Ns Agreement be construed to limit Consultant's indeunification obligation or other liability under this Agreement. Consultant's indemnification obligation shall survive the expiration or earlier termination of this Agreement until all actions against the Indemnified Parties for such matters indemnified are fully and finally barred by the applicable statute of limitations or, if an action is timely filed, until such action is final. This provision is intended for the benefit of third party Indemnified Parties not otherwise a party to this Agreement. 7.2 Desism Professional Nerykes Indemnifim6m and Reimbursement. if the Agreement is determined to be a "design professional services agreement" and Consultant is a "design professional"under California Civil Code Section 2782.S,then: A. To the fullest extent permitted by law, Consultant shall indemnify,defend (at Consultant's sole cost and expense), protect and.hold harmless City and its elected officials, officers, employees, agents and volunteers and all other public agencies whose approval of the project is required, (individually "Indemnified Party"; collectively "Indemnified Parties' against any and all liabilities, claims,judgments, arbitration awards, settlements, costs, demands, orders and penalties(collectively"Claims"),including but not limited to Claims arising from injuries or death of persons (Consultant's employees included) and damage to property, which Claims arise out of, pertain to, or are related to the negligence, recklessness or willful misconduct of Consultant, its agents, employees, or subcontractors, or arise from Consultant's negligent, reckless or willful performance of or failure to perform any germ, provision, covenant or condition of this Agreement ("Indemnified Claims"), but.Consultant's liability for Indemnified Claims shall be reduced to the extent such Claims arise.from the negligence, recklessness or willful misconduct of the City and its elected officials, officers, employees, agents and volunteers. B. The Consultant-shall require all non-design-professional sub-contractors, used or sub-contracted by Consultant to perform the Services or Work required under this Agreement, to execute an indemnification Agreement adopting the indemnity provisions in sub- section 7.1 in favor of the Indemnified Parties. In addition, Consultant shall require all non- design-professional sub-contractors, used or sub-contraLted by Consultant to perf mn the Services or Work required under this:Agreement, to obtain insurance that is consistent with the Insurance provisions as set forth in this Agreement, as well as any other insurance that may be required by Contract Officer. a. REC0 EDS ANR REPORTS 8.1 Reports. Consultant shall periodically prepare and submit to-the Contract Officer reports concerning the performance of the services required by this Agreement, or as the Contract Officer shall require. 82 Records. Consultant shall keep complete, accurate,,and detailed accounts of all time, costs, expenses, and expenditures pertaining in, any way to this Agreement. Consultant shall keep such books and records as shall be necessary to properly perform the services required by this Agreement and enable the Contract Officer to evaluate the performance of such services. The Contract Officer shall have full and free access to such books and records at all reasonable times, including the right to inspects copy, audit, and make records and transcripts fromm such. records. 5 83 Ownership of Documents. All drawings, specifications, reports, records, documents, and other materials prepared.by Consultant in the performance of this Agreement shall be the property of City. Consultant shall deliver all above-referenced documents to City upon request of the Contract Officer or upon the termination of this Agreement. Consultant shall have no claim for further-employment or additional compensation as a result of the exercise by City of its full rights or ownership of the documents and materials. Consultant may retain copies of such documents for Consultant's own use. Consultant shall have an unrestricted right.to use the concepts embodied in such documents. &A Release of Documents. All drawings, specifications, reports, records, documents; and other materials prepared by Consultant in the performance of services under this Agreement shall not be released publicly without the prior written approval of the Contract Officer_ ilS Cost Records. Consultant shall maintain all books,documents,papers,employee time sheets,accounting records,and other evidence pertaining to costs incurred while performing under this Agreement. Consultant shall make such materials available at its offices at all reasonable times during the term of this Agreement and for three (3)years from the date of final payment for inspection by City and copies shall be promptly furnished to City upon request. 9. ENFORCEMENT OF AGREEMENT 9.1 California Law. This Agreement shall be construed and interpreted both as to validity and to performance of the parties in accordance with the laws of the State of California. Legal actions concerning any dispute, claim, or matter arising out of or in relation to this Agreement shall be instituted in the Superior Court of the County of Riverside, State of California, or any other appropriate court in such county, and Consultant covenants and agrees to submit to the personal jurisdiction of such court in the Event of such action. 9.2 Interpretation. This Agreement shall be construed as a whole according to its fair language and common meaning to achieve the objectives and purposes of the Parties. The terms of this Agreement are contractual and the result of negotiation between the Parties. Accordingly,any rule of construction:of contracts (including,without limitation,California Civil Code Section 1654) that ambiguities are to be construed against the drafting party, shall not be employed in the interpretation of this Agreement_ The caption headings of the various sections and paragraphs of this Agreement are for convenience and identification purposes only and shall not be deemed to limit, expand, or define the contents of the respective sections or paragraphs. 9.3 Waiver. No delay or omission in the exercise of any right or remedy of a non- defaulting party on any default shall impair such right or remedy or be construed as a waiver. No consent or approval of City shall be deemed to waive or render unnecessary City's consent to or approval of any subsequent act of Consultant. Any waiver by either party of any default must be in writing_ No such waiver shall be a waiver of any other default concerning,the same or any other provision of this Agreement. 6 9A Rights aBd Remedies are Cumulative. Except with. respect to rights and remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the parties are cumulative. The exercise by either party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other party. 9.5 Legal.Action. In addition to any other rights or remedies, either party may take legal action, in law or in equity,-to cure, correct, or remedy any default, to recover damages for any default, to compel specific performance of this Agreement, to obtain injunctive relief, a declaratory judgment,or any other remedy consistent with the purposes of this Agreement. 10. CITY OFFICERS AND EMPLOYEES: NON-DISCRIMINATION 10.1 Non-Liability of City Offikem and Employees. No officer or employee of City shall be personally liable to the Consultant, or any successor-in-interest, in the event of any default or breach by City or for any amount which may become due to the Consultant or its successor; or for breach of any obligation of the terms of this Agreement. 102 Conflict of Interest. Consultant acknowledges that no officer or employee of the City has or shall have any direct or indirect financial interest in this Agreement nor shall Consultant enter into any agreement of any_kind with.any such officer or employee during the term of this Agreement and for one year thereafter. Consultant warrants that Consultant has not paid or given, and will not pay or give, any third party any money or other consideration in exchange for obtaining this Agreement_. 103 Covenant Against Discrimination. In connection with its performance under this Agreement, Contractor shall not discriminate against any employee or applicant for employment because of actual or perceived race, religion, color, sex, age, marital status, ancestry, national origin(i e.,place of origin,immigration status,cultural or linguistic characteristics,or ethnicity), sexual orientation, gender identity, gender expression, physical or mental disability, or medical condition (each a "prohibited basis"). Contractor shall ensure that applicants are employed,and that employees are treated during their employment, without regard to any prohibited basis. As a condition precedent to City's lawful capacity to enter this Agreement, and in executing this Agreement, Contractor certifies that its actions and omissions hereunder shall not incorporate any discrimination arising from or related to any prohibited basis in any Contractor activity, including but not limited to the following: employment, upgrading, demotion or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship; and further, that Contractor is in full compliance with the provisions of Palm Springs Municipal Code Section 7.09.040, including without limitation the provision of benefits, relating to non-discrimination in city contracting. 7 It. MISCELLANEOUS PROVISIONS 11.1 Notice. Any notice, demand; request, consent, approval, or communication that either party desires, or is required to give to the other party or any other person shall be in writing and either served personally or sent.by pre-paid, first-class mail to the address set forth below. Notice shall be deemed communicated seventy-two (72) hours from the time of mailing if mailed as provided in this Section. Either party may change its address by notifying the other party ofthe change of address in writing. To City: City of Palm Springs Attention: City Manager/ City Clerk 3200 E. Tahquitz Canyon Way Palm Springs, California 92262 To Consultant: Sperry Van Ness — Rich Investment Real Estate Partners, Inc. Attention: Mark Spohn, Vice President 611 S. Palm Canyon Drive, Palm Springs,CA 92264 11.2 Integrated Agreement. This Agreement contains all of the agreements of the parties and supersedes all other written agreements. 113 Amendment. No amendments or other modifications of this Agreement shall be binding unless through written agreement by all Parties. 11.4 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable taw. In the event that any one or more of the phrases, sentences, clauses, paragraphs, or sections contained in this Agreement shall be declared invalid or unenforceable by valid judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not affect any of the remaining phrases, sentences, clauses, paragraphs; or sections of this Agreement;which shall be interpreted to carry out the intent of the parties. 11.5 Successors in Interest. This Agreement shall be binding upon and inure to the benefit of the Parties' successors and assignees. IIA Third Party Beneficiary. Except as may be expressly provided for in this Agreement, nothing contained in this Agreement is intended.to confer, nor shall this Agreement be construed as conferring, any rights, including, without limitation, any rights as a third-party beneficiary or otherwise, upon any entity or person not a party to this Agreement. 11.7 Recitals: The above-referenced Recitals are hereby incorporated into the Agreement as though fully set forth in this Agreement and each Party acknowledges and agrees that such Party is bound,for purposes of this Agreement,by the same. 8 11.8 Authority: The persons executing this Agreement on behalf of the Parties warrant that they are duly authorized to execute this Agreement on behalf of Parties and that by so executing.this Agreement the.Parties are formally bound to the provisions of this Agreement. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the: dates stated below. "CITY" City of Palm Springs Date: 1� �0 By: David H. Ready,PhD City Manager APPROVED BY MY MAPIAGER ArP7z7 'TO EoittM: ATTEST � ,g99.U0 �►1135 By: _ By: Edward Z. Kotkin, M 'ia City Attorney City Cler "CONSULTANT" Sperry Van Ness — Rich Investment Real Estate Partners,Inc. Date: `� ��/� By ark S o ice President Date: (name) (secreuwy) 9 CAW ALL4IrW4MM CIVIL CODE§1180 A notary pudic or other dbm mspNmg Item carIfiorim,verifies mly the idim"of the ndridnl who sued the docurnem to which this owdicame a aaschad.and not tlatnrhhmhsaa accuracy.or validity of did domrnert State Of California ) County of 1 On before me, Date Here.kisert Name end Tr@e of the.Offca personally appeared NrmWsf of (tl who proved to me on the basis of satisfactory evidence to be the persan(s) wtroae rmuns(s) ia/ae subaeribed to the withn irafnrrnart and acknowledged to me that he/sheAhey executed the same in hm1haAhm authorized capecity(me).and that by hmAwrAhm eigrehrrs(s)on the nstrurnerd the persor(a). or the entity upon bafrdf of which the persorga)actemi executed the instrunent I oertdy under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and Correct WITNESS my had and official seat. Signature Sig al re of Noiary Public Place Notary Seel Above OPlrji 1 Though fhis section is option!,eampfetirg this NAomnabon can deter alteration of the docurne et m f immident reattachment of this form to an urvirtandad doc rnent Dea=Wbon of Attached Doceanertt rNe or Type of Document Document Date: Number of Pages: Signers) Other Than Married Above: CaPsoityo )Gained by Signn(M Signer's Name: Signer's Name: ❑Corporate Officer—TM*): ❑Corporate officer—TO*): ❑Partner— ❑limited ❑General ❑Partner— ❑Lmi nd ❑General ❑Individual ❑Attomay in Fad ❑Indnid1el ❑Attorney in Fad ❑Trustee ❑Guardian or Conservator ❑Trustee ❑Guardian or Conservator ❑OUW ❑Other. ^agar Is Representing: Signer Is Representing: b'014 Nafonel Ndmy Asammbm•www.NabonafJdsry.org•1-NO-L)S NOTARY(1-800-878-f1827) Item 15907 10 EXMBIT "A CONSULTANT'S SCOPE OF SERVICES/WORK Including, Schedule of Fees And Schedule of Performance A. Scope of Services. Consultant agrees to perform consulting services as required by City. Consultant shall provide the necessary qualified personnel to perform the services. In performance of the services Consultant shall: 1. Describe the disposition and marketing strategy for the identified site. 2. Determine the value of the property so as to recommend a sales price. It is understood that these opinions will be one of a number of factors that City will consider in arriving at both its asking price. The opinion will be based upon Consultant's general knowledge of the marketplace as real-estate brokers_ and will not constitute an appraisal of the Property. 3. Maintain close communication with City -staff, :formally reporting marketing activities on a weekly basis; serve asliaison between City and_entities identified. 4. Identify a viable entity to purchase City property. 5. Draft and/or participate in negotiating any terms and documents necessary for the financing and successful sale of the City- owned property. 6. Assist in coordinating and attending all meetings pertinent to the sale transaction of-the identifies! City property. 7. Prepare any documents required, and make any presentations necessary, for the benefit of the Palm Springs City Council,and other entities. 12 B. Schedule of Fees City shall pay Consultant a commmsion fee as follows: In the event of a sale of the property, Consultant shall be compensated 5% of the purchase price, or TWENTY FOUR THOUSAND NINE HUNDRED NINETY NINE DOLLARS AND ZERO CENTS ($24,999.00), whichever is dower upon close of escrow. Consultant's fee shall include, and Consultant shall be responsible for, the payment of all federal, state, and local taxes of any kind which are attributable to the compensation received; reimbursement for all marketing expenses (including costs of printing a publishing any brochures, the costs associated with any multiple listing services, radio, television, internet, or any other media to announce the availability of the property, and to solicit offers of phase of the property, and any other expenses whatsoever); and all other out-of-pocket expenses incurred by the Consultant in performing the services contemplated by this Agreement. C. Schedule of Performance. This Agreement shall be effective from the period commencing May 1, 2018 and ending June 30, 2018, unless sooner terminated by City as provided in the section of this Agreement entitled "Termination." This Agreement may be extended two times for periods of forty five days (45) each upon approval of the City Manager and Consultant. Upon expiration or termination of this Agreement, Consultant shall return to City any and all equipment, documents-or materials and all copies made thereof which Consultant received from City or produced for City for the purposes of this Agreement. Notwithstanding the termination of this Agreement, as provided by this Section C, the Consultant's right to receive compensation pursuant to Section .B .shall continue in full ford and effect ,until all ;compensation due to Consultant under this Agreement has been received. 13 Revlse&1/31118 720599.1 EXHIBIT "B» INSURANCE PROVISIONS Including Verification of Coverage, Sufficiency of Insurers, Errors and Omissions Coverage, Minimum Scope of Insurance, Deductibles and Self-Insured Detentions, and Severability of Interests (Separation of Insureds) j¢ Reprised.t/3]U8 720599_I INSURANCE 2. Procurement and Maintenanceof Ise. Consultant shall procure and maintain public liability and property damage insurance against all claims for injuries against persons or damages to property resulting from Consultant's performance under this-Agreement. Consultant shall procure and maintain all insurance at its sole cost and expense, in a form and content satisfactory to the City, and submit concurrently with its execution of this Agreement. Consultant shaft also carry workers' compensation insurance in accordance with California workers' compensation laws. Such insurance shall be kept in full force and effect during the term of this Agreement, including any extensions. Such insurance shall not be cancelable without thirty(30)days advance written notice to City of any proposed cancellation. Certificates of insurance evidencing the foregoing and designating the City, its elected officials, officers, employees,agents,and volunteers as additional named insureds by originalendorsement shalt be delivered to and approved by City prior to commencement of services. The procuring of such insurance and the delivery of policies; certificates; and endorsements evidencing the same shall not be construed as a limitation of Consultant's obligation to indemnify City, its elected officials, officers,agents, employees, and volunteers. 2. Mmimum Scone of Insurance. The minimum amount of insurance required under ibis Agreement shall be as follows: L Comprehensive general liability and personal injury with limits of at least one million dollars ($1,000,000.00) combined single limit coverage per occurrence and two million.dolhus($Z,OW,00%general aggregate,_ 2. Automobile liability insurance with limits of at least one million dollars .($1,000,000.00) per:occurrence, 3. Professional liability (errors .and omissions) insurance with limits of at least one million dollars ($i,000,d00.t10) per occurrence and two million dollars 02,1000,(I00) annual aggregate is: required is not required; 4. Workers' Compensation insurance in the statutory amount as required by- the State of California and Employer's Liability Insurance with limits of at least one million dollars $1 million per occurrence. If Consultant has no employees, Consultant shall complete the City's Request for Waiver of Workers'Comwpemsation Insurrance Requirement form. 3. Primary Insurance. For any claims related to _this. Agreement, Consultant's insurance coverage shall be primary with respect to the City and its respective elected officials, officers, employees, agents, and volunteers. Any insurance or self-insurance maintained by City and its respective elected officials,officers;employees, agents, and,volunteers shall be in excess of Consultant's insurance and shall not contribute with it. For Workers' Compensation and Employer's Liability Insurance only, the insurer shall waive all rights of subrogation and 1$ Revised 1131118 720>99.I contribution it may have against City, its elected officials, officers, employees, agents, and: volunteers. 4. Errors and Omissions Coverage. if Errors & Omissions Insurance is required, and if Consultant provides claims made professional liability insurance, Consultant shall also agree in writing either(1) to purchase tail insurance in the amount required by this Agreement to cover claims made within three years of the completion of Consultant's services under this Agreement, or(2)to_maintain pm#bssional liability insurance coverage with the same carrier in the amount required by this Agreement for at least three years after completion of Consultant's services under this AgrccmcnL Consultant shall also be required to provide evidence to City of the purchase of the required tail insurance or continuation of the professional liability policy. 5. Sufflemwy of Insurers. Insurance required m this Agreement shall be provided by authorized insurers in good standing with the State of California. Coverage shall be provided by insurers admitted in the State of California with an A.M. Bests.Key Rating of&++, Class VII,or better, unless otherwise acceptable to the City. b. VerWwationof Coverage. Consultant shall furnish City with both certificates of insurance and endorsements, including additional insured endorsements, effecting all of the coverages required by this Agreement. The certificates and endorsements_are to be signed by.a person authorized by that insurer to bind coverage on its behalf. All proof of insurance is to be received and approved by the City before work commences. City reserves the right to require Consultant's insurers to provide. complete, certified.copies of all required insurance policies at any time. Additional insured endorsements are not required for Errors and Omissions and Workers' Compensation policies. Verification of Insurance coverage may be provided by: (1)an approved General and/or Auto Liability Endorsement Form for the City of Palm.Springs or(2) an acceptable Certificate of Liability Insurance :coverage with an .approved Additional ,Insured Endorsement with the following endorsements stated on the certificate: 1. "The City of Palm Springs, its officials, employees, and agents are named:as an additional insured... " ("as respects City of Palm Springs Contract No._" or 'for any and all work.performed with the City"may be.included in this statement). 2. "This insurance is primary and non-contributory over any insurance or sett= insurance the City may have..." ("as respects City of Palm Springs Contract No_ " or 'for any and all work performed with the City" may included in this statement). 3. "Should any of the above described policies be canceled before the expiration date thereof, the issuing company will mail 30 days written notice to the Certificate Holder named." Language such as, "endeavor to" mail and "but failure to mail such notice shall impose no obligation or liability of any kind upon the company, its agents or representative" is not acceptable and must be crossed,out. L6 Revised.1131116 720599.1 4. Both the Workers' Compensation.and Employers' Liability policies shall contain the insurer's waiver of subrogation in favor of City, its elected officials, officers, employees, agents,_and volunteers.. In addition to the endorsements listed above, the City of Palm Springs shall be- named the certificate holder on the policies. All certificates of insurance ,and endorsements are to be received and approved by the City before work commences. All certificates of insurance must be authorized by a person with authority to bind coverage, whether that is the authorized agent/broker or insurance underwriter. Failure.to obtain the required documents prior to the commencement of work shall not waive the Consultant's_obligation to provide them. 7. Deductibles and Self-Insured Retentions. Any deductibles or self-insured retentions must be declared to and approved by the City prior to commencing any work or services under this Agreement. At the option of the City, either (1),the insurer shall reduce or eliminate such deductibles or self-insured retentions with respect to the City, its elected officials, officers,employees,agents,-and volunteers;or{2) Consultant.shall procure a bond.guaranteeing payment of losses and related investigations, claim administration, and defense expenses. Certificates of Insurance must include evidence of the amount of any deductible or self insured retention under the policy. Consultant guarantees payment of all deductibles and self.-insured retentions. S. Severabiiity of Interests (Separation of Insureds). This insurance applies separately to each insured against whom claim is made or suit is brought except with respect to the limits of the insurer's liability. 17 Revised;V31/18 720e99.1 Aco CERTIFICATE OF LIABILITY INSURANCE °�'�'M"�D°"�'"' 111� 0 511 012 01 8 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED,the policy(ies)must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsemen s. CONTACT Dairen Hasson PRODUCER ME: WHINS Insurance Agency PHONE (818 233-0825 _ FAX No: 866 310 6481 16400 Ventura Blvd Ste 321 Amu, darren@whins.com INSURER SLAFFORDING COVERAGE NAIC N Encino CA 91436 INSURER A: Mercury Casualty Company 11908 INSURED -- -�..- -- INSURER B: Rich Investment Real Estate Partners,Inc INSURERC: Sperry Van Ness INSURER D: 15250 Ventura Blvd INSURER E: Sherman Oaks CA 91403-3217 INSURERF: COVERAGES CERTIFICATE NUMBER: 193 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ILTR TYPEOF_N URANCE A sn wynSUBR POLICYNUMBER MOLICY ry POLICY EXP LIMITS X COMMERCIAL LIABIDTY EACH OCCURRENCE $ 1,000,000 DAMAGE TO RENTED CLAIMS-MADE n__ OCCUR I PREM E .@ $ MED EXP An one son)_ $ 5,000 A CCP0055162 11/01/2017 11/01/2018 PERSONAL&ADV I NJURY $ 1,000,000 GEN'L AGGREGATE LIMIT APPLIES PER: j / GENERALAGGREGATE $ 2,000,000 X POLICY PR L] LOC ✓ PRODUCTS-COMPIOPAGG $ 1,000,000 OTHER. $ AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ Ea aoctow ANY AUTO BODILY INJURY(Per person) $ OV�TIED SCHEDULED BOOILV INJURY(Per accidem) $ __. AUTOS ONLY AUTOS HIRED NON-OWNED PROPERTY DAMAGE $ AUTOS ONLY AUTOS ONLY Per-accident) UMBRELLA LIAB _ OCCUR EACHOCCURRENCE $ EXCESS LUIB CLAIMS-MADE AGGREGATE $ DED RETENTION $ WORKERS COMPENSATION PER OTH- ANDEMPLOYERS'LIABIDTY YIN STATUTE ER ANYPROPRIETORIPARTNERIEXECUTIVE ❑ NIA E.L.EACH ACCIDENT $ OFFICER/MEMBER EXCLUDED? (Mandatory in NH) _E.L DISEASE_ -EA EMPLOYEE $ If qes,describe under DESCRIPTION OF OPERATIONS below E.L.DISEASE-POLICY LIMIT $ DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES(ACORD 101,Additional Remarks Schedule,may be ahtached E more space is required) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Palm Springs ACCORDANCE WITH THE POLICY PROVISIONS. 3200 E.Tahquitz Canyon Way AUTHORIZED REPRESENTATIVE Palm Springs CA 92262 Darren Hasson ©1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD DATE ACORD� CERTIFICATE OF LIABILITY INSURANCE May15,2o a PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND ProGroup International CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER.THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES 207A SW Jefferson BELOW. Lee's Summit, MO 64063 INSURER AFFORDING COVERAGE INSURED Rich Investment Real Estate Partners Great American Fidelity Insurance Company DBA: Sperry Van Ness 301 E. Fourth St 10940 Wilshire Blvd Ste 1600 Cincinnati OH 45202 Los Angeles, CA 90024 THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANCING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. N� TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION LIMITS a DATE MMIOD/YY DATE DIY GENERAL LIABILITY EACH OCCURRENCE $ COMMERCIAL GENERAL LIABILITY FIRE DAMAGE(Any ane fre) $ CLAIMS MODE OCCUR MED EXP(Airy one pecan) $ PERSONAL S ADV INJURY $ GENERAL AGGREGATE $ GEN'L AGGREGATE LIMIT APPLIES PER PRODUCTS-COMPIOP AGG $ POLICY PROJECT LOG AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ (Ea addenl) ANY AUTO ALLOWNEDAUTOS BODILY INJURY $ (Per Person) SCHEDULED AUTOS HIRED AUTOS BODILY INJURY $ (Per aoadenl) NON OWNED AUTOS PROPERTY DAMAGE $ (Per acidard) GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ ANY AUTO OTHER THAN EA ACC $ AUTO ONLY'. AGG $ EXCESS LIABILITY EACH OCCURRENCE $ OCCUR CLAIMS MADE AGGREGATE $ DEDUCTIBLE $ RETENTION 5 $ WORKERS COMPENSATION AND x'c STAMORY uNDs EMPLOYERS'LIABILITY OTHER El-EACH ACCIDENT $ E.L.EA EMPLOYEE $ E.L DISEASE-POLICY JUT $ Real Estate Agents ✓ $1,000,000 each claim Errors&Omissions RAB3082960-18 511/2018 5/112019 $1,000,000 aggregate Liability $10,000 deductible DESCRIPTION OF OPERATIONS/LOCATIONSNEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISIONS CANCELLATION Certificate Holder: SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,THE ISSUING INSURER WILL ENDEAVOR TQ MAIL 30 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED / TO THE LEF City of Palm Springs 3200 E.Tahquitz Canyon Way V// ems. Palm Springs,CA 92262 AUTHORIZED REPRESENTATIVE Certificate of Exemption from Workers' Compensation Insurance TO. City of Palm Springs ATTN: City Clerk and Risk Manager SUBJECT: Sole Proprietor/Partnership/Closely Held Corporation with No Employees Please let this memorandum notify the City of Palm Springs that I am a ❑ sole proprietor ❑ partnership closely held corporation and do not have any employees whose employment requires me to carry workers' compensation insurance. Therefore, I do not carry workers' compensation insurance coverage. I further warrant that I understand the requirements of Section 3700, et seq., of the California Labor Code with respect to providing Workers' Compensation coverage for any employees. I agree to comply with the code requirements and all other applicable laws and regulations regarding workers' compensation, payroll taxes, FICA and tax withholding and similar employment issues. I further agree to hold the City of Palm Springs harmless from loss or liability which may arise from the failure to comply with any such laws or regulations. Ri7777 Con rac or � nature Printed Name of Contractor Date Date Private Passenger Automobile SAFECO S.CO OF AMERICA-PREFERRED(24740) Renewal Named Insured(s) MARK SPOHN Policy Number: A2200640 481 N HERMOSA DR Contract#: 162358 PALM SPRINGS,CA92262-6100 Producer Sub-Code: 16-2358 Billing Account#: 7217-2200640 (323)665-3132 (323)936-0944 Premium: 1,822.14 Net Change: 1,822.14 Term: 12 Months Inception Date: 03/08/1995 Transaction Date: 08/29/2017 Effective Date: 08129/2017 Expiration Date: 08/29/2018 Private Passenger Automobile - Preferred Premium: 1,822.14 Net ChangeAmount: 1,822 14 Effective Date: 08/29/2017 Coverages 2017 MINI Description Limit COOPER Bodily Injury Liability 100,0001300,000 492.20 Property Damage-Single Limit 100,000 408.90 Comprehensive Coverage 500 ded 88.70 Collision 500 ded 71 T90 Waiverof Collision Deductible 48.50 Loss of Use 50/1,200 34.80 Emergency Roadside Assistance 5.80 Loan Lease 2q r0 State Surcharge 1.74 Good Driver Discount Incl Superior Good Driver Discount Incl Longevity Credit Incl Passive Restraint(Broadened) Opt B Total Vehicle Premium: 1,822.14 Vehicles) 1. Private PassengerAutomobile: 2017 MINI COOPER The insurance policy information contained herein is produced from data contained in the Client Management System and cannot be used to determine coverage provided by an insurance policy. Please refer to the insurance policy issued by your insurance carrier for coverage information. Page 1 of 3 MARKSPOHN 06/30/2017 ACo® CERTIFICATE OF LIABILITY INSURANCE DATE(MIA DD YYYY] 11101� 11/09/2017' THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER.THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S),AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the cortiftcate holder is an ADDITIONAL INSURED,the policy(iss)most have ADDITIONAL INSURED provisions or be endorsed_ H SUBROGATION IS WAIVED,subject to the terms and conditions of the policy,certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement s PRODUCER CONTACT Darren Hasson WHIMS Insurance Agency PHONE 818 233-0825 n°c No: 866 10 6481 16400 VENTURA BLVD STE 321 E-MAIL dhasson@whim.com Encino, CA 91436 License#.OG66665 111M AFFOROWGCOVERAGE Luca INSURER A: Mercury _ 11 INSURED Rich Investment Real Estate Partners,Inc INSURERS: DBA Sperry Van Ness INSURER c: 15250 Ventura Blvd INSURERD: Ste 520 WSURERE= - Stietmw Oaks,CA 9140"217 INSURER F COVERAGES CERTIFICATE NUMBER. 0000000032617 REVISION NUMBER- 11 THIS IS TO CERTIFY THATTHE POLICIESOF INSURANCE LISTED BELOW HAVE BEEN ISSUEDTOTHE INSURED NAMEDABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS- LT R TYPE OF INSURANCE A M SUER POLICY NUMBER POLICY EFF POLICY EXP LuMTS LTR JNM A COMMERCIAL GENERAL LIABILITY Y , Y CCP0055162 1=112017 11101=1a EACH OCCURRENCE $ _ �. OO O . DAMAGE TO RENTED CLAIMS-MADE F1l1 OCCUR PREMISES Eaosirrwnce $ Incl MEL)EXP(Any onePerson) $ 5,0001100_ PERSONAL&ADV INJURY is 1,000W01 GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ 2000000 X POLICY JECT ❑LOC PRODUCTS-CDkw�P ACG s 1 (100"01 OTHER: $ AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ (Ea acciderrtl ANY AUTO BODILY INJURY(Per person) $ _- - OWNED SCHEDULED BODI BODI AUTOS ONLY AUTOS LYtNJURY(Per aoadern)-$ HIRED NON-OWNED PROPERTY DAMAGE $ AUTOS ONLY AUTOS ONLY Per accident UMBRELLA UAB OOCIiR EACH OCCURRENCE $ EXCESS LIAR _ CLAIMS-MADE AGGREGATE $ DED RETENTION $ WORKERS COMPENSATION i PER OTH- AND EMPLOYERS'LIABILITY YIN I'm _,-__ ER ANY PROPRIErORIPARTNENEXECUTIVE (�( NIA EL EACH ACCIDENT $ OFRCERrMEMBER EXCLUDED? JJ �rantlabry in UK) E.L.DISEASE-EA EMPLOYEE $ If Yes dss:rihe under DESCRIPTIONOF OPERATIONSbelow EL DISEASE-POLICY LLULT $ I, DESCRPDON OF OPERATIONS 1 LOCATIONS I VEHICLES(ACORD 101,Additional Remarks Schedule,maybe attached X more space Is required) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,NOTICE WILL BE DELIVERED IN SVN International Corp ACCORDANCE WITH THE POLICY PROVISIONS. 745 Atlantic Ave., F18, Boston, MA 02111 AUTHOR REPRESENTATIVE DLH ©1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25(2016103) The ACORD name and logo are registered marks of ACORD Printed by DLH On November 09,2016 at 06:44AM ACORDTM CERTIFICATE OF LIABILITY INSURANCE PRDDUCea THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND ProGroup International CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES 207A SW Jefferson BELOW. Lee's Summit, MO 64063 INSURER AFFORDING COVERAGE INSURED Rich Investment Real Estate Partners Great American Fidelity Insurance Company DBA: Sperry Van Ness 301 E. Fourth St 10940 Wilshire Blvd Ste 1600 Cincinnati OH 45202 Las Angeles, CA 90024 THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTA14CING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICES DESCRIBED HEREIN.IS SUBJECT TO ALL THE TERMS,EXCLUSIONS,AND CONDITIONS OF SUCH POLICIES,AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. Neff TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION LIMITS LW DATE DATE GENERALUABIUTY EACH OCCURRENCE $ COMMERCIAL GENERAL LIABILITY FIRE DAMAGE(Any one fire) $ CLAIMS MADE OCCUR MED EXP(Any m person) $ PERSONAL S ADVINJURY $ GENERAL AGGREGATE $ GEN'L AGGREGATE LIMIT APPLES PER: PRODUCTS-COAPIOP AGG $ POLICY PROJECT LOC AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT $ (Ea wadeM) ANY AUTO ALL OWNEDAUTOS BODILY INJURY $ (Per Perron) SCHEDULED AUTOS HREDAU71-05 BODILY INJURY $ NO"WNED AUTOS PROPERTY DAMAGE $ faco&4 GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ ANY AUTO O�� EA ACC $ AUTO ONLY. AGG $ EXCESS LIABILITY EACH OCCURRENCE $ OCCUR CLAIMS MADE AGGREGATE $ DEDUCTIBLE $ RETENTION $ $ WORKERS COMPENSATION AND M STATUTORY UMITS EMPLOYERS'LIABIUTY OTHER E.L.EACH ACCIDENT $ E L EA EMPLOYEE $ E.L.DISEASE-POLICY LIMIT $ Real Estate Agents $1,000,000 each claim Errors&Omissions RAB308296017 5/1/2017 511/2018 $1,000,000 aggregate Liability $10,000 deductible DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLESIEXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISIONS CANCELLATION Additional Insured. SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATETHEREOF,.THE ISSUING INSURER.PALL ENDEAVOR TO MAIL 30 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR Sperry Van Ness International Corporation LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR 745 Atlantic Avenue,FL 8 REPRESENTATIVES. Boston,MA 021I1 AUTHORIZED REPRESENTATIVE S2018-05-14-17.23.58.000000 P2018-05-14-1130.08.000000 R20184)5-14-17.23.57.000000 AR Company Copy California Businessowners Policy V ercury Casualty Company Effective Date 05/08/2019 Page 1 Amended Declaration Add Form(s) This declaration supersedes any previous declaration bearing the same number for this policy period. Named Insured: RICH INVESTMENT REAL ESTATE PARTNERS, INC., ET AL Mailing Address Producer RICH INVESTMENT REAL ESTATE PARTNERS, INC., ET AL WHINS INSURANCE 15250 VENTURA BLVD 16400 VENTURA BLVD#321 STE 520 ENCINO CA 91436 SHERMAN OAKS CA 91403-3217 Client Number:621511 Policy Number Policy Period Company Name Producer No. Producer Phone From To CCP0055162 11/01/2017 - 11/01/2018 Mercury Casualty Company C226 818-233-0825 At 12:01AM Standard Time At Your Mailing Address Shown Above. WHINS INSURANCE Business Description: Real Estate Form of Business: CORPORATION TOTAL PROPERTY PREMIUM $963 TOTAL LIABILITY PREMIUM $125 OTHER PREMIUM $0 TOTAL PREMIUM $1,088 IN RETURN FOR THE PAYMENT OF THE PREMIUM,AND SUBJECT TO ALL THE TERMS OF THIS POLICY,WE AGREE WITH YOU TO PROVIDE THE INSURANCE AS STATED IN THIS POLICY. Insurance is provided with respect to those premises described herein and with respect to those coverages and kinds of property for which a specific limit of liability is shown,subject to all the terms of this policy including forms and endorsements made a part hereof: LOCATION OF PREMISES PREM BLDG LOCATION OCCUPANCY 1 1 15250 Ventura Blvd-Ste 520-Sherman Oaks CA Real Estate 91403-3217 SECTION I PROPERTY COVERAGE LIMIT OF DEDUCT- PREM BLDG COVERAGE INSURANCE VALUATION IBLE PREMIUM UW: JES Company Copy k ercury Casualty Company California Businessowners Policy Effective Date:05/08/2018 Page 2 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTNERS,IN 1 1 Business Personal Property $52,000 Replacement Cost $5,000 $684 Automatic Increase-Business Personal Property 4% Business Income is provided under BP 00 03 for Actual Loss Sustained. ADDITIONAL COVERAGE(S) LIMIT OF PREM BLDG COVERAGE INSURANCE DEDUCTIBLE PREMIUM Equipment Breakdown $54 Extended Period of Indemnity Extend 180 Days $150 1 1 Additional Insured $75 TOTAL PROPERTY PREMIUM $963 SECTION II LIABILITY COVERAGE PREM BLDG COVERAGE LIMIT PREMIUM Bodily Injury&Property Damage Liability $1,000,000 Per Occurrence/$2,000,000 Aggregate Combined Single Limits Personal&Advertising Injury $1,000,000 Per Occurrence/$2,000,000 Aggregate Products&Completed Operations $1,000,000 Per Occurrence/$2,000,000 Aggregate Medical Expenses $5,000 Each Person/$]0,000 Each Accident Mercury Plus Liability Endorsement $125 Additional Coverages: TOTAL LIABILITY PREMIUM $125 Schedule of Forms and Endorsements It is hereby understood and agreed, in consideration of the premium charged,that the following endorsements are attached to and form part of the aforementioned Policy. BP0567 0106 Exclusion of Terrorism BP0524 0115 Exclusion of Certified Acts of Terrorism BP0542 0115 Exclusion of Punitive Damages Related to a Certified Act of Terrorism BP0003 0713 Businessowners Coverage Form BP0417 0110 Employment-Related Practices Exclusion BP0439 0702 Abuse or Molestation Exclusion BP0446 1102 Ordinance or Law Coverage BP0493 0106 Total Pollution Exclusion with Hostile Fire Exception BP0501 0702 Calculation of Premium BP0517 0106 Exc-Silica or Silica-Related Dust BP05770106 Fungi or Bacteria Exclusion BPINOI 0713 Businessowners Coverage Form Index ILN O18 0903 California Fraud Statement MCC EB BOP 0710 Mercury Casualty Company Equipment Breakdown Coverage UW: JES Company Copy N ercury Casualty Company California Businessowners Policy Effective Date:05/08/2018 Page 3 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTNERS,IN MCC Mold EXC Property I MC BOP 25 0613 Businessowners Amendatory Endorsement MC BOP 29 0710 Mercury Casualty Businessowners Amendatory Endorsement MC BOP Liability Plus 0512 Mercury Plus Liability Endorsement Refer to Mercury Plus Liability Endorsement for Coverage Limits Automatically Included PREM BLDG 1 1 BP0155 0912 California Changes 1 1 BPO412 0106 Limitation of Coverage to Designated Premises or Project Description of Premises or Project Real Estate I 1 BP0430 0713 Protective Safeguards PI -Automatic Sprinkler - - - - -- SCHEDULED ADDITIONAL INSUREDS PREM BLDG l 1 BPO448 SPERRY VAN NESS INTERNATIONAL CORPORATION 745 ATLANTIC AVE FL 8 BOSTON MA 02111 I 1 BPO448 DOUGLAS EMMETT 2008 LLC,DOUGLAS EMMETT,INC.,DOUGLAS EMMETT MANAGEMENT,INC.,DOUGLASS EMMETT MANAGEMENT,LLC, DOUGLAS EMMETT PROPERTIES,LP 15250 VENTURA BLVD SHERMAN OAKS CA 91403 UW: JES Company Copy k ercury Casualty Company California Businessowners Policy Effective Date:05/08/2018 Page 4 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTNERS,IN 1 1 BPO448 CITY OF PALM SPRINGS 3200 E TAHQUITZ CANYON WAY PALM SPRINGS CA 92262 Business Personal Property Limit Includes$25,000 For Tenant Improvements And Betterments. FULL POLICY TERM PREMIUM $1,088 This policy change has resulted in an additional premium of $25 CREDITS: Prem: I Bldg: I Deductible Credit,Sprinkler Credit Checks or drafts are accepted in payment only if they are honored when first presented. In Consideration of the Provisions and Stipulations Herein or Added Hereto and of the Premium Above Specified (or specified in endorsement attached hereto), this Company,for the term from Inception date shown above (At 12:01 A.M.Standard Time)to expiration date shown above (At 12!01 A.M.Standard Time) at location of property involved,to an amount not exceeding the limit of liability specified,does insure the Insured named in the Declarations above and legal representatives,to the extent of the actual cash value of the property at the time of loss,but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality within a reasonable time after such loss,without allowance for any increased cost of repair or reconstruction by reason of any ordinance or law regulating construction or repair;and without compensation for loss resulting from interruption of business or manufacture,nor in any event for more than the interest of the insured,against all LOSS BY FIRE,LIGHTNING AND OTHER PERILS INSURED AGAINST IN THIS POLICY IN- CLUDING REMOVAL FROM PREMISES ENDANGERED BY THE PERILS INSURED AGAINST IN THIS POLICY,EXCEPT AS HEREINAFTER PROVIDED to the property described herein while located or contained as described in this policy,or pro rate for live days at each proper place to which any of the property shall necessarily be removed for preservation from the perils insured against in this policy,but not elsewhere. Assignment of this policy shall not be valid except with the written consent of this Company. This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated,which are hereby made a part of this policy,to- gether with such other provisions,stipulations and agreements as may be added hereto,as provided by this policy. M-1(6I83) UW: 7ES Company Copy N ercury Casualty Company California Businessowners Policy Effective Date:05/08/2018 Page 1 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTNERS,IN NAMED INSURED "ET AL" It is hereby understood and agreed by all parties to this contract,that the"ET AL"named in rI'EM ONE,NAMED INSURED section of this policy,includes only the following as NAMED INSUREDS: RICH INVESTMENT REAL ESTATE PARTNERS,INC.,DBA: SPERRY VAN NESS/SPERRY VAN NESS INTERNATIONAL CORPORATION UW: JES ' Additional Insured/Loss Payee Copy An I3s N ercury Casually Company California Businessowners Policy r Effective Date:l l/01/2022 Page I Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PART, NAMED INSURED "ET AL" It is hereby understood and agreed by all parties to this contract, that the "ET AL" named in ITEM ONE, NAMED INSURED section of th policy, includes only the following as NAMED INSUREDS: RICH INVESTMENT REAL ESTATE PARTNERS, INC., DBA: SPERRY VAN NESS / SPERRY VAN NESS INTERNATIONAL CORPORATION RECEIVED NOV 15 2022 City Hall Reception Desk Additional Insured/Loss Payee Copy V ercury Casualty Company California Businessowners Policy Effective Date: 11/O1/2022 Page 5 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTT CLUDING REMOVAL FROM PREMISES ENDANGERED BY THE PERILS INSURED AGAINST IN THIS POLICY, EXCEPT AS HEREINAFTER PROVIDED to the property described herein while located or contained as described in this policy, or pro rate for five days at each proper place to which any of the property shall necessarily be removed for preservation from the perils insured against in this policy, but not elsewhere. Assignment of this policy shall not be valid except with the written consent of this Company. This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated, which are hereby made a part of this policy, to- gether with such other provisions, stipulations and agreements as may be added hereto, as provided by this policy. M-1 (6/83) Additional Insured/Loss Payee Copy RV ercury Casualty Company California Businessowners Policy Effective Date: 11/0 1/2022 Page 4 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTT 1 1 BPO448 SVN INTERNATIONAL CORP (SVINC) 33 ARCH ST 17TH FLOOR BOSTON MA 02110 BPO448 WELLS FARGO BANK, NATIONAL ASSOCIATION 1 INDEPENDENT DR 8TH FLOOR STE 810 JACKSONVILLE FL 32202 Business Personal Property Limit Includes $25,000 For Tenant Improvements And $0 Betterments. FULL POLICY TERM PREMIUM $1,253 CREDITS: Preen: 1 Bldg: 1 Deductible Credit, Sprinkler Credit Checks or drafts are accepted in payment only if they are honored when first presented. In Consideration of the Provisions and Stipulations Herein or Added Hereto and of the Premium Above Specified (or specified in endorsement attached hereto), this Company, for the term from inception data shown above (At 12:01 A.M. Standard Time)to expiration date shown above (At 12:01 A.M. Standard Time) at location of property involved, to an amount not exceeding the limit of liability specified, does insure the insured named in the Declarations above and legal representatives, to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality within a reasonable time after such loss, without allowance for any increased cost of repair or reconstruction by reason of any ordinance or law regulating construction or repair; and without compensation for loss resulting from interruption of business or manufacture, nor in any event for more than the interest of the insured, against all LOSS BY FIRE, LIGHTNING AND OTHER PERILS INSURED AGAINST IN THIS POLICY IN- Additional Insured/Loss Payee Copy V ercury Casualty Company California Businessowners Policy l 1j, I Effective Date:11/01/2022 Page 3 Policy Number. CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARTD ILN 018 0903 California Fraud Statement MCC EB BOP 0710 Mercury Casualty Company Equipment Breakdown Coverage MC BOP 32 0817 Businessowners Amendatory Endorsement MC BOP 33 0817 Businessowners Amendatory Plus Endorsement MC BOP 50 0817 Two or More Policies Issued by Us MC BOP Liability Plus 0512 Mercury Plus Liability Endorsement Refer to Mercury Plus Liability Endorsement for Coverage Limits Automaticalh Included PREM BLDG 1 BP0155 0720 California Changes 1 Office BPO412 0417 Limitation of Cov to Designated Premises,Project or Oper Project or Operation Real Estate 1 BPO430 0713 Protective Safeguards P 1 -Automatic Sprinkler SCHEDULED ADDITIONAL INSUREDS PREM BLDG 1 1 BPO448 DOUGLAS EMMETT 2008 LLC , DOUGLAS EMMETT, INC., DOUGLAS EMMETT MANAGEMENT, INC., DOUGLASS EMMETT MANAGEMENT, LLC, DOUGLAS EMMETT PROPERTIES, LP 15250 VENTURA BLVD SHERMAN OAKS CA 91403 l 1 BPO448 CITY OF PALM SPRINGS 3200 E TAHQUITZ CANYON WAY PALM SPRINGS CA 92262 Mercury Casualty Company AR Business Personal Property Additional Insured/Loss Payee Copy California Businessowners Policy Effective Date:11/O1/2022 Page 2 Policy Number: CCP0055162 Insureds Name: RICH INVESTMENT REAL ESTATE PARIT $62,000 Replacement Cost Automatic Increase - Business Personal Property 4% Business Income is provided under BP 00 03 for Actual Loss Sustained. ADDITIONAL COVERAGE(S) $5,000 $816 LIMIT OF PREM BLDG COVERAGE INSURANCE DEDUCTIBLE PREMIUM Equipment Breakdown $62 Extended Period of Indemnity Extend 180 Days $150 Additional Insured $100 TOTAL PROPERTY PREMIUM $1,128 SECTION II LIABILITY COVERAGE PREM BLDG COVERAGE LIMIT PREMIUM Bodily Injury & Property Damage Liability Combined Single Limits Personal & Advertising Injury Products & Completed Operations Medical Expenses Mercury Plus Liability Endorsement Additional Coverages: $1,000,000 Per Occurrence/$2,000,000 Aggregate $1,000,000 Per Occurrence/$2,000,000 Aggregate $1,000,000 Per Occun-ence/$2,000,000 Aggregate $5,000 Each Person/$10,000 Each Accident $125 TOTAL LIABILITY PREMIUM $125 Schedule of Forms and Endorsements It is hereby understood and agreed, in consideration of the premium charged, that the following endorsements are attached to and form part of the aforementioned Policy. BP0567 0106 Exclusion of Terrorism BP0524 0115 Exclusion of Certified Acts of Terrorism BP0542 0115 Exclusion of Punitive Damages Related to a Certified Act of Terrorism BP0003 0713 Businessowners Coverage Form BP0417 0110 Employment - Related Practices Exclusion BP0453 0713 Water Back -Up and Sump Overflow BP0493 0106 Total Pollution Exclusion with Hostile Fire Exception BP0501 0702 Calculation of Premium BP0517 0106 Exc - Silica or Silica -Related Dust BP05770106 Fungi or Bacteria Exclusion BP0646 1219 California - Ordinance or Law Coverage BP 1504 0514 Exclusion Access or Disclosure of Confidential Info Limited BI BPINOI 0713 Businessowners Coverage Form Index S2022-11-1I-02.09.25.000000 P2022-11-10-09.27.17.230000 R2022-11-1041.29.55.000000 1t v ercury Casually Company Payee Insured/Loss California Businessowners Policy Payee Copy Effective Date 11/01/2022 Page 1 Renewal Declaration This declaration supersedes any previous declaration bearing the same number for this policy period. Coverage will lapse and no longer be in effect if payment is not received by the due date. Named Insured: RICH INVESTMENT REAL ESTATE PARTNERS, INC., ET AL Mailing Address Additional Insured/Loss Payee RICH INVESTMENT REAL ESTATE PARTNERS, INC., ET AL CITY OF PALM SPRINGS 15250 VENTURA BLVD 3200 E TAHQUITZ CANYON WAY STE 500 PALM SPRINGS CA 92262 SHERMAN OAKS CA 91403-3217 PoBcy Number FroTO Period o Company Name Producer No. Producer Phone GI:F'UUbb1b2 11/U1/2U22-11/U1/2U23 Mercury Casualty Company At 12:01 AM Standard Time At Your Mailing Address Shown Above. Business Description: Real Estate Form of Business: CORPORATION TOTAL PROPERTY PREMIUM $1,128 TOTAL LIABILITY PREMIUM$125 OTHER PREMIUM $0 TOTAL PREMIUM $1,253 C226 818-233-0825 WHINS INSURANCE IN RETURN FOR THE PAYMENT OF THE PREMIUM, AND SUBJECT TO ALL THE TERMS OF THIS POLICY, WE AGREE WITH YOU TO PROVIDE THE INSURANCE AS STATED IN THIS POLICY. Insurance is provided with respect to those premises described herein and with respect to those coverages and kinds of property for which a specific limit of liability is shown, subject to all the terns of this policy including forms and endorsements made a part hereof: LOCATION OF PREMISES IPREM BLDG LOCATION OCCUPANCY I 15250 Ventura Blvd - Ste 500 - Sherman Oaks CA Real Estate 91403-3217 SECTION I PROPERTY COVERAGE LIMIT OF DEDUCT- PREM BLDG COVERAGE INSURANCE VALUATION IBLE PREMIUM Al"Additional Insured/Loss Payee Copy MERCURY 11000 Eucalyptus Street Rancho Cucamonga, CA 91730 (909) 919-7050 INSURANCE GROUP POLICYHOLDER NOTICE - OFFER OF TERRORISM COVERAGE Dear Policyholder: You are hereby notified that under the Terrorism Risk Insurance Act, as amended, you have a right to purchase insurance coverage for losses resulting from acts of terrorism.As defined in Section 102(1) of the Act:The term "act of terrorism" means any act or acts that are certified by the Secretary of the Treasury -in consultation with the Secretary of Homeland Security, and the Attorney General of the United States -to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. DISCLOSURE OF FEDERAL PARTICAPATION IN PAYMENT OF TERRORISM LOSSES YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER, YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA, THE UNITED STATES GOVERNMENT GENERALLY REIMBURSES 85%THROUGH 2O15; 84% BEGINNING ON JANUARY 1, 2016; 83% BEGINNING ON JANUARY 1, 2017; 82% BEGINNING ON JANUARY 1, 2018; 81% BEGINNING ON JANUARY 1, 2019 and 80% BEGINNING ON JANUARY 1, 2020, OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED BELOW AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS THAT MAY BE COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. YOU SHOULD ALSO KNOW THAT THE TERRORISM RISK INSURANCE ACT, AS AMENDED, CONTAINS A $100 BILLION CAP THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED $100 BILLION, YOUR COVERAGE MAY BE REDUCED. You have thirty (30) days to consider this offer and submit the premium required. If we do not receive this completed notice within 30 days following your receipt of this offer, terrorism coverage under the Terrorism Risk Insurance Program Reauthorization Act will be excluded from your policy and you will not be covered for losses arising from certified acts of terrorists as defined in the Act. If you do elect to accept coverage, the indicated premium will be included in your total policy premium subject to the manner in which you have chosen to pay your policy premium. Acceptance or Rejection of Terrorism Insurance Coverage Please mark one of the following: I hereby elect to purchase terrorism coverage for a prospective premium of $53.00. 1 hereby decline to purchase terrorism coverage for certified acts of terrorism. I understand that I will have no coverage for losses resulting from certified acts of terrorism. Policyholder/Applicant's Signature Print Name Date CCP0055162 11 /01 /2022 Mercury Casualty Company Policy Number Policy Effective Date Insurance Company Name TRIA_01/2015