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any other individuals or entities identified in the in addition , waive all such rights against Subcontractors ,
<br /> Supplementary Conditions , and the officers , directors , and Engineer, and all other individuals or entities
<br /> partners , employees , agents , consultants and identified in the Supplementary Conditions to be listed as
<br /> subcontractors of each and any of them , each of whom is insured or additional insured (and the officers , directors ,
<br /> deemed to have an insurable interest and shall be listed as partners , employees , agents , consultants and
<br /> an insured or additional insured . subcontractors of each and any of them) under such
<br /> policies for losses and damages so caused . None of the
<br /> C . All the policies of insurance ( and the certificates or above waivers shall extend to the rights that any party
<br /> other evidence thereof) required to be purchased and making such waiver may have to the proceeds of
<br /> maintained in accordance with Paragraph 5 . 06 will insurance held by Owner as trustee or otherwise payable
<br /> contain a provision or endorsement that the coverage under any policy so issued .
<br /> afforded will not be canceled or materially changed or
<br /> renewal refused until at least 30 days prior written notice B . Owner waives all rights against Contractor,
<br /> has been given to Owner and Contractor and to each other Subcontractors , and Engineer, and the officers , directors ,
<br /> additional insured to whom a certificate of insurance has partners , employees , agents , consultants and
<br /> been issued and will contain waiver provisions in accor- subcontractors of each and any of them for :
<br /> dance with Paragraph 5 . 07 .
<br /> 1 . loss due to business interruption , loss of use, or
<br /> D . Owner shall not be responsible for purchasing and other consequential loss extending beyond direct
<br /> maintaining any property insurance specified in this physical loss or damage to Owner ' s property or the
<br /> Paragraph 5 . 06 to protect the interests of Contractor, Work caused by , arising out of, or resulting from fire
<br /> Subcontractors , or others in the Work to the extent of any or other perils whether or not insured by Owner; and
<br /> deductible amounts that are identified in the Supple-
<br /> mentary Conditions . The risk of loss within such 2 . loss or damage to the completed Project or part
<br /> identified deductible amount will be borne by Contractor, thereof caused by , arising out of, or resulting from
<br /> Subcontractors , or others suffering any such loss , and if fire or other insured peril or cause of loss covered by
<br /> any of them wishes property insurance coverage within any property insurance maintained on the completed
<br /> the limits of such amounts , each may purchase and Project or part thereof by Owner during partial
<br /> maintain it at the purchaser ' s own expense . utilization pursuant to Paragraph 14 . 05 , after
<br /> Substantial Completion pursuant to Paragraph 14 . 04 ,
<br /> E . If Contractor requests in writing that other special or after final payment pursuant to Paragraph 14 . 07 .
<br /> insurance be included in the property insurance policies
<br /> provided under Paragraph 5 . 06 , Owner shall , if possible , C . Any insurance policy maintained by Owner covering
<br /> include such insurance , and the cost thereof will be any loss , damage or consequential loss referred to in
<br /> charged to Contractor by appropriate Change Order. Prior Paragraph 5 . 07 . 13 shall contain provisions to the effect
<br /> to commencement of the Work at the Site , Owner shall in that in the event of payment of any such loss , damage, or
<br /> writing advise Contractor whether or not such other consequential loss , the insurers will have no rights of
<br /> insurance has been procured by Owner . recovery against Contractor, Subcontractors , or Engineer,
<br /> and the officers , directors , partners , employees , agents ,
<br /> 5 . 07 Waiver of Rights consultants and subcontractors of each and any of them .
<br /> A . Owner and Contractor intend that all policies 5 . 08 Receipt and Application of Insurance Proceeds
<br /> purchased in accordance with Paragraph 5 . 06 will protect
<br /> Owner, Contractor, Subcontractors , and Engineer, and all A . Any insured loss under the policies of insurance
<br /> other individuals or entities identified in the Supple- required by Paragraph 5 . 06 will be adjusted with Owner
<br /> mentary Conditions to be listed as insureds or additional and made payable to Owner as fiduciary for the insureds ,
<br /> insureds (and the officers , directors , partners, employees , as their interests may appear, subject to the requirements
<br /> agents , consultants and subcontractors of each and any of of any applicable mortgage clause and of Paragraph
<br /> them ) in such policies and will provide primary coverage 5 . 08 . 13 . Owner shall deposit in a separate account any
<br /> for all losses and damages caused by the perils or causes money so received and shall distribute it in accordance
<br /> of loss covered thereby . All such policies shall contain with such agreement as the parties in interest may reach .
<br /> provisions to the effect that in the event of payment of If no other special agreement is reached , the damaged
<br /> any loss or damage the insurers will have no rights of Work shall be repaired or replaced , the moneys so
<br /> recovery against any of the insureds or additional insureds received applied on account thereof, and the Work and the
<br /> thereunder . Owner and Contractor waive all rights against cost thereof covered by an appropriate Change Order .
<br /> each other and their respective officers , directors ,
<br /> partners , employees , agents , consultants and B . Owner as fiduciary shall have power to adjust and
<br /> subcontractors of each and any of them for all losses and settle any loss with the insurers unless one of the parties
<br /> damages caused by , arising out of or resulting from any of in interest shall object in writing within 15 days after the
<br /> the perils or causes of loss covered by such policies and occurrence of loss to Owner ' s exercise of this power . If
<br /> any other property insurance applicable to the Work; and , such objection be made , Owner as fiduciary shall make
<br /> EJCDC C-700 Standard Genera Conditions of the Construction Contract.
<br /> Copyright © 2002 National Society of Professional Engineers for EJCDC. All rights reserved.
<br /> 00700 - 17
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