Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
maintained without interruption from date of commencement of the Work until date of <br /> final payment and termination of any coverage required to be maintained after final <br /> payment . <br /> § 7 . 1 . 3 Certificates of Insurance acceptable to the Owner shall be _delivered to the <br /> Owner immediately after execution of this Part 2 Agreement . These Certificates and the <br /> insurance policies required by this Section 7 . 1 shall contain a provision that coverages <br /> afforded under the policies will not be canceled or allowed to expire until at least 30 <br /> days ' prior written notice has been given to the Owner. If any of the foregoing insurance <br /> coverages are required to remain in force after final payment, an additional certificate <br /> evidencing continuation of such coverage shall be submitted with the application for <br /> final payment . Information concerning reduction of coverage shall be furnished by the <br /> Design/Builder with reasonable promptness in accordance with the Design/Builder' s <br /> information and belief. <br /> § 7 . 2 OWNER ' S LIA131 ITV IAlcURANCE <br /> a fain self pFeteGtien against Glaims WhiGh Fnay aFffise from operations under thmi <br /> Part 2 Agreement . The DesigniBuildeF shall not be Fesponsible for PUFGhasing and <br /> maiRtaining this optional QwneF's liability OnGUFanGe unless speGifiGally requiFed by the <br /> § 7 . 3 PROPERTY INSURANCE <br /> § 7 . 3 . 1 Unless otherwise provided under this Part 2 Agreement , the Owner Design _ <br /> Builder shall d maintain , in a company or companies authorized to do <br /> business in the jurisdiction in which the principal improvements are to be located; <br /> prepeFty Builder' s Risk "All Risk " insurance upon the Work to the full insurable value <br /> thereof on a replacement cost basis w0thout optional dedUGtibles . Such propeFt <br /> insurance shall be maintained , unless otherwise provided in the Contract Documents or <br /> otherwise agreed in writing by all persons and entities who are beneficiaries of such <br /> insurance , until final payment has been made or until no person or entity other than the <br /> Owner has an insurable interest in the property required by this Section 7 . 3 to be <br /> insured , whichever is earlier . This insurance shall include interests of the Owner , the <br /> Design/Builder, and their respective contractors and subcontractors in the Work . <br /> § 7 . 3 . 2 Property insurance shall be on an all- risk policy form and shall insure against the <br /> perils of fire and extended coverage and physical loss or damage including , without <br /> duplication of coverage , theft , vandalism , malicious mischief, collapse , falsework , <br /> temporary buildings and debris removal including demolition occasioned by <br /> enforcement of any applicable legal requirements , and shall cover reasonable <br /> compensation for the services and expenses of the Design/Builder's Architect and other <br /> professionals required as a result of such insured loss . Coverage for other perils shall <br /> not be required unless otherwise provided in the Contract Documents . <br /> this Paint 2 Agizeement and with all of the G the amount deGGFibed above , the <br /> 12 <br />