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(5) Assumption of the Risk of Loss. Indian River County SWDD as OWNER must assume all risk <br />of loss or damage for the tangible personal property involved in the contract, as indicated by <br />the County's acquisition of, or inclusion as the insured party under, insurance on the building <br />materials. <br />10.4 Indian River County SWDD as OWNER desires to comply with the Direct Purchase Procedures set forth <br />in this Article 10 for allowable purchases in an amount in excess of $5,000 (Five Thousand Dollars). <br />CONTRACTOR agrees to cooperate with OWNER to enable OWNER to comply with the Direct <br />Purchase Procedures set forth in this Article 10 for all such purchases. Whenever the Contract Documents <br />conflict with the direct purchase procedures set forth in this Article 10, this Article 10 shall prevail. <br />OWNER and CONTRACTOR shall coordinate the builder's risk coverage of each party to comply with <br />the Direct Purchase Procedures set forth herein for such purchases. <br />10.5 Upon delivery of OWNER direct purchase materials to the Project site, the CONTRACTOR shall, <br />pursuant to the Contract Documents, inspect, accept delivery of, and store OWNER direct purchase <br />materials pending incorporation into the Project. CONTRACTOR shall forward proof of delivery <br />acceptance to the OWNER's Project Manager. Notwithstanding the transfer of possession of OWNER <br />direct purchase materials to the CONTRACTOR, Indian River County SWDD as OWNER retains title <br />to the OWNER direct purchase materials and the transfer of possession shall be deemed a bailment until <br />the OWNER direct purchase materials are incorporated into the Project. <br />Agreement <br />00530-8 <br />