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' include such insurance, and the cost thereof will be charged to insurers will have no rights of recovery against CONTRACTOR,
<br /> CONTRACTOR by appropriate Change Order or Written Subcontractors , ENGINEER , or ENGINEER's Consultants and
<br /> Amendment. Prior to commencement of the Work at the Site , the officers , directors , partners , employees , agents ,
<br />and other
<br /> ' OWNER shall in writing advise CONTRACTOR whether or not consultants and subcontractors of each and any of them.
<br /> such other insurance has been procured by OWNER.
<br /> 5. 08 Receipt and Application of Insurance Proceeds
<br /> 5. 07 Waiver of Rights
<br /> ' A. Any insured loss under the policies of insurance
<br /> A. OWNER and CONTRACTOR intend that all policies required by paragraph 5 . 06 will be adjusted with OWNER and
<br /> purchased in accordance with paragraph 5.06 will protect made payable to OWNER as fiduciary for the insureds
<br />, as their
<br /> OWNER, CONTRACTOR, Subcontractors , ENGINEER, interests may appear, subject to the requirements of any
<br /> ENGINEER's Consultants, and all other individuals or entities applicable mortgage clause and of paragraph 5. 08 . B . OWNER
<br /> identified in the Supplementary Conditions to be listed as shall deposit in a separate account any money
<br />so received and
<br /> insureds or additional insureds (and the officers , directors , shall distribute it in accordance with such
<br /> agreement as the
<br /> partners , employees , agents , and other consultants and parties in interest may reach . If no other special agreement is
<br /> subcontractors of each and any of them ) in such policies and reached , the damaged Work shall be repaired or replaced
<br />, the
<br /> will provide primary coverage for all losses and damages moneys so received applied on account thereof,
<br /> and the Work
<br /> caused by the perils or causes of loss covered thereby. All such and the cost thereof covered by an appropriate Change Order
<br /> policies shall contain provisions to the effect that in the event of or Written Amendment.
<br /> payment of any loss or damage the insurers will have no rights
<br /> of recovery against any of the insureds or additional insureds B . OWNER as fiduciary shall have power to adjust and
<br /> thereunder. OWNER and CONTRACTOR waive all rights settle any loss with the insurers unless one of the
<br /> parties in
<br /> against each other and their respective officers , directors , interest shall object in writing within 15
<br /> days after the
<br /> ' partners, employees , agents , and other consultants and occurrence of loss to OWNER's exercise of this power. If such
<br /> subcontractors of each and any of them for all losses and objection be made, OWNER as fiduciary shall make
<br /> settlement
<br /> damages caused by, arising out of or resulting from any of the with the insurers in accordance with such agreement
<br /> as the
<br /> perils or causes of loss covered by such policies and any other parties in interest may reach. If no such agreement among
<br /> the
<br /> property insurance applicable to the Work; and , in addition, parties in interest is reached , OWNER as fiduciary
<br /> shall adjust
<br /> waive all such rights against Subcontractors , ENGINEER, and settle the loss with the insurers and , if required in
<br /> writing by
<br /> ENGINEER's Consultants , and all other individuals or entities any party in interest, OWNER as fiduciary shall give
<br /> bond for
<br /> identified in the Supplementary Conditions to be listed as the proper performance of such duties .
<br /> ' insureds or additional insureds (and the officers , directors ,
<br /> partners , employees , agents, and other consultants and 5. 09 Acceptance of Bonds and Insurance; Option to
<br /> subcontractors of each and any of them) under such policies for Replace
<br /> losses and damages so caused . None of the above waivers
<br /> shall extend to the rights that any party making such waiver may A. If either OWNER or CONTRACTOR has any objection
<br /> have to the proceeds of insurance held by OWNER as trustee to the coverage afforded by or other provisions of the Bonds
<br /> or
<br /> or otherwise payable under any policy so issued . insurance required to be purchased and maintained by the other
<br /> party in accordance with Article 5 on the basis of
<br /> ' B . OWNER waives all rights against CONTRACTOR, non-conformance with the Contract Documents , the objecting
<br /> Subcontractors , ENGINEER, ENGINEER's Consultants , and party shall so notify the other party in writing within 10 days
<br /> after
<br /> the officers , directors , partners, employees , agents , and other receipt of the certificates (or other evidence requested
<br />) required
<br /> consultants and subcontractors of each and any of them for: by paragraph 2. 05. C. OWNER and CONTRACTOR shall each
<br /> ' provide to the other such additional information in respect of
<br /> 1 . 1oss due to business interruption, loss of use, or insurance provided as the other may reasonably request. If
<br /> other consequential loss extending beyond direct either party does not purchase or maintain all of the Bonds and
<br /> physical loss or damage to OWNER's property or the insurance required of such party by the Contract Documents
<br />,
<br /> ' Work caused by, arising out of, or resulting from fire or such party shall notify the other party in writing of such
<br /> failure to
<br /> other peril whether or not insured by OWNER; and purchase prior to the start of the Work , or of such failure
<br /> to
<br /> maintain prior to any change in the required coverage. Without
<br /> 2. Ioss or damage to the completed Project or part prejudice to any other right or remedy , the other party may elect
<br /> ' thereof caused by, arising out of, or resulting from fire or to obtain equivalent Bonds or insurance to protect
<br /> such other
<br /> other insured peril or cause of loss covered by any party's interests at the expense of the party who was
<br />required to
<br /> property insurance maintained on the completed Project provide such coverage, and a Change Order shall be issued to
<br /> or part thereof by OWNER during partial utilization adjust the Contract Price accordingly.
<br /> pursuant to paragraph 14 . 05, after Substantial Com-
<br /> pletion pursuant to paragraph 14 . 04 , or after final 5 . 10 Partial Utilization, Acknowledgment of Property
<br /> payment pursuant to paragraph 14 . 07 . Insurer
<br /> ' C . Any insurance policy maintained by OWNER covering A. If OWNER finds it necessary to occupy or use a
<br /> any loss , damage or consequential loss referred to in paragraph portion or portions of the Work prior to Substantial Completion
<br /> 5. 07 . 8 shall contain provisions to the effect that in the event of of all the Work as provided in paragraph 14 . 05,
<br /> no such use or
<br /> payment of any such loss , damage, or consequential loss , the occupancy shall commence before the insurers providing
<br /> the
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