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deemed
<br />to
<br />have an
<br />insurable
<br />interest and shall be
<br />listed as
<br />an
<br />insured or
<br />additional
<br />insured.
<br />C. All the policies of insurance (and the certifi-
<br />cates or other evidence thereof) required to be pur-
<br />chased and maintained in accordance with paragraph
<br />5.06 will contain a provision or endorsement that the
<br />coverage afforded will not be canceled or materially
<br />changed or renewal refused until at least 30 days prior
<br />written notice has been given to OWNER and CON-
<br />TRACTOR and to each other additional insured to
<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 />E. If CONTRACTOR requests in writing that
<br />other special insurance be included in the property
<br />insurance policies provided under paragraph 5.06,
<br />OWNER shall, if possible, include such insurance,
<br />and the cost thereof will be charged to CONTRAC-
<br />TOR 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 />TOR whether or not such other insurance has been
<br />procured by OWNER.
<br />5.07 Waiver of Rights
<br />A. OWNER and CONTRACTOR intend that all
<br />policies purchased in accordance with paragraph 5.06
<br />will protect OWNER, CONTRACTOR,
<br />Subcontractors, ENGINEER, ENGINEER's Consul-
<br />tants, and all other individuals or entities identified in
<br />the Supplementary Conditions to be listed as insureds
<br />or additional insureds (and the officers, directors,
<br />partners, employees, agents, and other consultants
<br />and subcontractors of each and any of them) in such
<br />policies and will provide primary coverage for all
<br />losses and damages caused by the perils or causes of
<br />loss covered thereby. All such policies shall contain
<br />provisions to the effect that in the event of payment of
<br />any loss or damage the insurers will have no rights of
<br />recovery against any of the insureds or additional
<br />insureds thereunder. OWNER and CONTRACTOR
<br />waive all rights against each other and their respective
<br />officers, directors, partners, employees, agents, and
<br />other consultants and subcontractors of each and any
<br />of them for all losses and damages caused by, arising
<br />out of or resulting from any of the perils or causes of
<br />loss covered by such policies and any other property
<br />insurance applicable to the Work; and, in addition,
<br />waive all such rights against Subcontractors,
<br />ENGINEER, ENGINEER's Consultants, and all other
<br />individuals or entities identified in the Supplementary
<br />Conditions to be listed as insureds or additional
<br />insureds (and the officers, directors, partners,
<br />employees, agents, and other consultants and
<br />subcontractors of each and any of them) under such
<br />policies for losses and damages so caused. None of
<br />the above waivers shall extend to the rights that any
<br />party making such waiver may have to the proceeds
<br />of insurance held by OWNER as trustee or otherwise
<br />payable under any policy so issued.
<br />B. OWNER waives all rights against
<br />CONTRACTOR, Subcontractors, ENGINEER,
<br />ENGINEER's Consultants, and the officers, directors,
<br />partners, employees, agents, and other consultants
<br />and subcontractors of each and any of them for:
<br />1. loss due to business interruption, loss
<br />of use, or other consequential loss extending
<br />beyond direct physical loss or damage to
<br />OWNER's property or the Work caused by,
<br />arising out of, or resulting from fire or other peril
<br />whether or not insured by OWNER; and
<br />2. loss or damage to the completed Pro-
<br />ject or part thereof caused by, arising out of, or
<br />resulting from fire or other insured peril or
<br />cause of loss covered by any property
<br />insurance maintained on the completed Project
<br />or part thereof by OWNER during partial
<br />utilization pursuant to paragraph 14.05, after
<br />Substantial Completion pursuant to paragraph
<br />14.04, or after final payment pursuant to
<br />paragraph 14.07.
<br />C. Any insurance policy maintained by OWNER
<br />covering any loss, damage or consequential loss
<br />referred to in paragraph 5.07.13 shall contain
<br />provisions to the effect that in the event of payment of
<br />any such loss, damage, or consequential loss, the
<br />insurers will have no rights of recovery against
<br />CONTRACTOR, Subcontractors, ENGINEER, or
<br />ENGINEER's Consultants and the officers, directors,
<br />partners, employees, agents, and other consultants
<br />and subcontractors of each and any of them.
<br />00700 - General Conditions (EJCDC)
<br />Page 17 of 44
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