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deemed to have an insurable interest and shall be respective officers, directors, partners, employees,
<br />listed as an insured or additional insured.
<br />C. All the policies of insurance (and the certifi
<br />ion or endorsement that the
<br />coverage afforded will not be canceled or materially
<br />e- -
<br />written notice has been given to OWNER and CON
<br />whom a certificate of insurance has been issued and
<br />will contain waiver provisions in accordance with
<br />paragraph 5.07.
<br />D. OWNER shall not be responsible for purchas-
<br />ing and maintaining any property insurance specified
<br />in this paragraph 5.06 to protect the interests of
<br />CONTRACTOR, Subcontractors, or others in the
<br />Work to the extent of any deductible amounts that are
<br />identified in the Supplementary Conditions. The risk
<br />of loss within such identified deductible amount will be
<br />borne by CONTRACTOR, Subcontractors, or others
<br />suffering any such loss, and if any of them wishes
<br />property insurance coverage within the limits of such
<br />amounts, each may purchase and maintain it at the
<br />purchaser's own expense.
<br />other special insurance be included • e. property
<br />insurance policies provide. - ier paragraph 5.06,
<br />OWNER shall, i :: si•le, include such insurance,
<br />and th- -. thereof will be charged to CONTRAC-
<br />by appropriate Change Order or Written
<br />Amendment. Prior to commencement of the Work at
<br />the Site, OWNER shall in writing advise CONTRAC
<br />•
<br />procured by OWNER.
<br />5.07 Waiver of Rights
<br />A. OWNER and CONTRACTOR intend that a 1
<br />policies purchased in accordance with paragraph .1.
<br />will protect OWNER, CONTR ' OR,
<br />Subcontractors, ENGINEER, ENGINEE Consul
<br />tants, and all other individuals or entiti:_ identified in
<br />the Supplementary Conditions to be ..ted as insureds
<br />or additional insureds '(and th- officers, directors,
<br />partners, employees, agents and other consultants
<br />and subcontractors of eac- and any of them) in such
<br />policies and will prow •e pri-mary coverage for all
<br />loses and damag- . caused by the perils or -causes of
<br />lose covered tho -by. All such policies shall contain
<br />any loss
<br />recov-•
<br />damage the insurers will have no rights of
<br />against any of the insureds or additional
<br />waive all rights against each other and thei r
<br />ach and any of them for all losses and damag
<br />caused by, arising out of or re
<br />and, in addition, waive all such rights a
<br />ainst
<br />Consultants, and all other individuals or entities
<br />identified in the Supplementary Conditions to •e listed
<br />as insureds or additional insureds (and th- officers,
<br />directors, partners, employees, agents, -nd other
<br />them) under such policies for losses and damages so
<br />to the proceeds of insurance held
<br />trustee or otherwise payable and
<br />issued.
<br />y OWNER as
<br />any policy so
<br />8. OWNER waives al rights against
<br />CONTRACTOR, Subcontrac •rs, ENGINEER,
<br />ENGINEER's Consultants, and he officers, directors,
<br />partners, employees, agents, and other consultants
<br />and subcontractors of each a • any of them for:
<br />1. loss due to •usiness interruption, los,
<br />of use, or other co sequential loss extending
<br />beyond direct ph,'sical losc or damage to
<br />OWNER's proper or the Work caused by,
<br />arising out of, or esulting from fire or other peril
<br />2. low or damage to the completed Pro
<br />ject or part t ereof caused by, arising out of, or
<br />resulting frim fire or other insured peril or
<br />cause of loss covered by any property
<br />insuranc- maintained on the completed Project
<br />or part thereof by OWNER during partial
<br />utilizati. pursuant to paragraph 14.05, after
<br />14.04, or after final payment pursuant to
<br />par • raph 14.07.
<br />C. ny insurance policy maintained by OWNER
<br />coverin• any lose, damage or consequential loss
<br />referrer to in paragraph 5.07.B shall contain
<br />provis-ons to the effect that in the event of payment of
<br />any uch looms, damage, or consequential loss, the
<br />ins ers will have no rights of recovery against
<br />C• TRACTOR, Subcontractors, ENGINEER, or
<br />EGINEER's Consultants and the officers, directors,
<br />•-rtners, employees, agents, and other consultants
<br />00700 - General Conditions REV 04-07
<br />00700 - 17
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