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You shall procure .from a duly licensed agent of an in­surance company to be designated by the Water Company, Contract­ors1 Contractual Liability and ContractorsT Contractual Property Damage Insurance. The policy or policies to be taken out by you shall provide limits (whiah have been designated by 3^ou) (c) under Contractors’ Contractual•Liability In­surance of $2 5 ,000.00 for any one person, and, subject to the same limit per person $50,000.00 for any one accident; and (d) under Contractors’ Contractual Property Dam­age Insurance, of $5,000.00 for any one accident, and, subject to the same limit per accident, $10,000.00 ag­gregate during an annual period, the insurance under items (c) and (d) above to insure the lia­bility assumed by you under the indemnifying provisions of this agreement on account of injuries to c r death of persons or damage to property. The policy or policies for the insurance aforesaid to be taken out by each subcontractor shall provide limits agreed upon between you and such subcontractor and shall afford sub­contractor protection of the same nature afforded you. Neither the Contractor’s Public Liability Insurance nor the Contractor’s Property Damage Insurance herein provided for shall protect you or any subcontractors against claims on account of injuries to or deaths of persons or damage to property caused by your subcontractor’s teams, automobiles, trucks and other ve­hicles or the loading or unloading thereof unless the accident occurs on the premises used by you and/or your subcontractor in the conduct of the work to be performed under this contract. You shall cooperate with the representatives of the In­surance Company in the handling of all insurance details and re­porting of accidents and shall see that all such subcontractors do likewise. Upon making any subcontract with any subcontractor, you shall give immediate written notice thereof to the Vice President of the Water Company and to the Insurance Company designated by the Water Company, and in such notice shall specify, among other things, the limits of Contractor’s Public Liability Insurance and Contractor’s Property Damage Insurance agreed upon between you and such subcontractor. Any additional insurance desired by you or any subcon­tractor must be secured, at your expense or at the expense of such subcontractor. The Water Company will, at its own expense, pay the premiums on insurance hereinabove in this section provided for. If the foregoing understanding is satisfactory to you, kindly signify your acceptance by signing and returning two copies of this letter agreement, which is sent to you in triplicate, it 4.