Exhibit 2 - Aviation Insurance QuoteQuote No: Q469812 Page 1
Quote No:Quote Date:Q469812
September 25, 2020
Atlanta, GAUnderwriter:
Telephone:
Fax:
Email:
Timothy Carter
4042623335
4042629160
tcarter@global-aero.com
Quotation is valid until October 01, 2020
Producer:LOCKTON COMPANIES, LLC.Applicant:CITY OF DENTON
601 E HICKORY STREETSUITE ADENTON, TX 76205
Contact:3657 BRIARPARK DR.
SUITE 700
HOUSTON, TX 77042
PAM LIPSEY
Coverage Dates:From: October 01, 2020 To: October 01, 2021
This insurance shall commence and cease on the dates shown at 12:01 A.M. local time at the address of the Applicant
Insurance QuoteAVIATION GROUND OPERATIONS LIABILITY INSURANCE
(AGL Policy Form)
Insurance applies to the insured's declared aviation operations. See the policy form and any accompanying endorsements for complete coverage details.
PLEASE NOTE: The following separate licensed insurers, whose liability is several and not joint, provide the insurance afforded by policies issued through
Global Aerospace, Inc.
American Alternative Insurance Corporation 59.24%
Wilmington, Delaware
American Commerce Insurance Company 10.00%
Columbus, Ohio
National Indemnity Company 18.39%
Omaha, Nebraska
Tokio Marine America Insurance Company 12.37%
New York, New York
Quote No: Q469812 Page 2
Coverage(s) and Limit(s):
Location of aviation premises you own, rent, or occupy:
ANY PREMISES NECESSARY AND INCIDENTAL TO THE AVIATION OPERATIONS OF THE NAMED INSURED
Form of Business: Other Organization
Supplemental Policy Information:
Number of days for Cancellation Notice:
Reasons other than non-payment 30
Non-payment 10
Endorsements:
E041 Electronic Data Event Liability Exclusion
C025 Electronic Date Recognition Exclusion Limited Coverage
D004 TRIA Disclosure
D005 Texas Mandatory Endorsement
S009 Texas State Notice
Payment Plan:
100% of the Annual Premium Due on Inception
Underwriter's Remarks:
All other terms and conditions are per expiring policy number 14000922 with Electronic Data Event Liability Exclusion added.
Special Notices:●State Amendatory Endorsement and Disclosure notice included as required.
●This quotation does not apply to the extent that trade or economic sanctions or other laws or regulations prohibits GlobalAerospace from offering or providing insurance. To the extent any such prohibitions apply, this policy is void ab initio.
●The producer warrants that they are properly licensed to solicit or sell insurance, as applicable, in their state of domicile and inall other jurisdictions where they transact business.
●It is the producer's responsibility to comply with any applicable laws regarding disclosure to the policyholder of commission orother compensation we pay, if any, in connection with this policy or program.
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Dated:September 25, 2020 Underwriter:
Quote No: Q469812 Page 3
2020-Net
Location
MISC AIRPORT
AIRPORT OTHER - NO COM PAXMOV
Liability Limit(s):Liability Limit(s):Each Occurrence $10,000,000
Damage to Premises Rented to you $100,000
Medical Expenses (Any one person)$10,000Personal and Advertising Injury Aggregate $10,000,000
General Aggregate $10,000,000
Products Completed Operations Aggregate $10,000,000
Hangarkeepers’ Each Accident $1,000,000
Hangarkeepers’ Each Aircraft $1,000,000
Contractual Each Occurrence $10,000,000War Risk Liability Not Covered
Commission %0.00
Total Annual Premium $14,662
Deductibles:Coverage A Amount and Basis of DeductibleBodily Injury Liability Not Applicable per claimNot Applicable per occurrenceProperty Damage Liability Not Applicable per claimNot Applicable per occurrenceCombined Bodily Injury and Property Damage Liability Not Applicable per claimNot Applicable per occurrenceCoverage BPersonal and Advertising Injury Liability Not Applicable per claimper offenseCoverage DHangarkeepers' Liability $10,000 per aircraftNot Applicable per accidentCoverages A, B and D Combined Not Applicable annual aggregate
Total Annual Premium:$14,662
Quote No: Q469812 Page 4
Addendum 1 to Quote 2020-Net
TERRORISM RISK INSURANCE ACT OF 2002
(As amended and extended by
The Terrorism Risk Insurance Extension Act of 2005 and The Terrorism Risk Insurance Program Reauthorization Acts of 2007, 2015 and 2019)
NOTICE TO PRODUCER: The applicant must be made aware of the opportunity to purchase the coverage contained in the Applicant Disclosure described below. Any request from you to bindthe coverage offered in this quote must include advice to us regarding the applicant’s choice for terrorism insurance coverage. The premium stated in the disclosure is for terrorism insurance
coverage only.
APPLICANT DISCLOSURE: NOTICE AND OFFER OF TERRORISM INSURANCE COVERAGE
You are hereby notified that under the Terrorism Risk Insurance Act of 2002, as amended, hereinafter referred to as ‘the Act,’ you have a right to purchase insurance coverage for losses arisingout of acts of terrorism, as defined in Section 102(1) of the Act: “The term “act of terrorism” means any act that is certified by the Secretary of the Treasury — in consultation with the Secretaryof 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 an air carrier or vessel 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.”
PURCHASE OF THE INSURANCE OFFERED IN THIS DISCLOSURE HAS THE EFFECT OF NULLIFYING TERRORISM EXCLUSIONS CONTAINED IN NEW OR RENEWAL POLICIES FORACTS OF TERRORISM, AS DEFINED IN THE ACT. HOWEVER, ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED, AND YOUR POLICY MAY CONTAIN OTHER EXCLUSIONSTHAT MIGHT AFFECT YOUR COVERAGE. IF THIS COVERAGE IS NOT PURCHASED, THE COVERAGE AFFORDED BY THE POLICY WILL BE THAT WHICH WOULD APPLY IN THE
ABSENCE OF THE ACT.
IF PURCHASED, COVERAGE AFFORDED FOR LOSSES CAUSED BY CERTIFIED ACTS OF TERRORISM MAY BE PARTIALLY REIMBURSED BY THE U.S. GOVERNMENT UNDER AFORMULA ESTABLISHED BY FEDERAL LAW. UNDER THIS FORMULA, IF THE AGGREGATE INSURED LOSSES EXCEED A TRIGGER AMOUNT ($200,000,000 BEGINNING ON JANUARY1, 2020), THE U.S. GOVERNMENT GENERALLY PAYS A PERCENTAGE (80% BEGINNING ON JANUARY 1, 2020) OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILYESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE. THE PREMIUM CHARGE FOR THIS COVERAGE DOES NOT INCLUDE ANY CHARGES
FOR THE PORTION OF LOSS COVERED BY THE U.S. GOVERNMENT UNDER THE ACT.
YOU SHOULD ALSO KNOW THAT THE ACT, CONTAINS A PROGRAM CAP OF $100,000,000,000 THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS’ LIABILITYFOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ONE CALENDAR YEAR EXCEEDS THE PROGRAM CAP. IF THEAGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEEDS THE PROGRAM CAP, YOUR COVERAGE MAY BE REDUCED.
PREMIUM FOR TERRORISM INSURANCE COVERAGE (which is in addition to the ”Total Premium”, and is subject to any applicable state taxes and surcharges)
Liability $1,466HullNot Covered
Total $1,466
In accordance with the provisions of the Act, the Terrorism Risk Insurance Program shall terminate on December 31, 2027. Unless the program is renewed, extended or otherwise continued
by the federal government, insurance coverage purchased for losses arising out of acts of terrorism shall terminate as of the date when any one or more of the following first occurs: (a)thepolicy period ends; (b) the federal Terrorism Risk Insurance Program, established by the Act, has terminated either in its entirety or as respects the type of insurance afforded by this policy;or (c) renewal, extension or continuation of the Terrorism Risk Insurance Program has become effective without a requirement to make terrorism coverage available as respects the type of
insurance afforded by this policy.
If the insurance is not terminated upon the occurrence of b. or c. above, insurance will remain in force without change for the remainder of the policy period, unless the company notifies you
of any such change in response to any change in the federal law.
If the insurance is terminated upon the occurrence of b. or c. above, pro rata unearned premium will be returned to you.
PLEASE ADVISE IF YOU WISH TO PURCHASE THIS COVERAGE.