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r B. The policies of insurance so required by this paragraph 5.04 to be purchased and maintained shall: 1. with respect to insurance required by paragraphs 5.04.A.3 through 5.04.A.6 inclu- sive, include as additional insureds (subject to any customary exclusion in respect of r professional liability) OWNER, ENGINEER, ENGINEER's Consultants, and any other individuals or entities identified in the Supple- mentary Conditions, all of whom shall be listed as additional insureds, and include coverage for the respective officers, directors, partners, employees, agents, and other consultants and r subcontractors of each and any of all such additional insureds, and the insurance afforded to these additional insureds shall provide primary coverage for all claims covered thereby; 2. include at least the specific coverages and be written for not less than the limits of liability provided in the Supplementary Conditions or required by Laws or Regulations, whichever is greater; r 3. include completed operations insurance; 4. include contractual liability insurance covering CONTRACTOR's indemnity obligations under paragraphs 6.07, 6.11, and • 6.20; 5. contain a provision or endorsement 1M that the coverage afforded will not be canceled, materially changed or renewal refused until at least thirty days prior written notice has been given to OWNER and CONTRACTOR and to each other additional insured identified in the Supplementary Conditions to whom a certifi- cate of insurance has been issued (and the certificates of insurance furnished by the CON- TRACTOR pursuant to paragraph 5.03 will so provide); • 6. remain in effect at least until final payment and at all times thereafter when COW TRACTOR may be correcting, removing, or replacing defective Work in accordance with w paragraph 13.07; and 7. with respect to completed operations insurance, and any insurance coverage written on a claims -made basis, remain in effect for at least two years after final payment (and CONTRACTOR shall furnish OWNER and each other additional insured identified in the Supplementary Conditions, to whom a certificate of insurance has been issued, evidence satisfactory to OWNER and any such additional insured of continuation of such insurance at final payment and one year thereafter). 5.05 OWNER's Liability Insurance provided by CONTRACTOR under par ph 5.04, OWNER, at OWNER's option y purchase and maintain at OWNER' cpense OWNER's own liability insura as will protect OWNER against 5.06 Property Insurance mentary Conditions, OWNER shall purchase a d maintain property insurance upon the Work at the ite in the amount of the full replacement cost th reof (subject to such deductible amounts as m y be provided in the Supplementary Conditions or quired by Laws and Regulations). This insurance s II: 1. include the interests of OWNER, individuals or entities ide ified in the Supplementary Conditions, d the officers, directors, partners, e/sub es, agents, and other consultants andtractors of each and any of them, eacom is deemed to have an insurable intd shall be listed as an additional insure 2. be writte on a Builder's Risk `all-risk" or open p II or special causes of loss policy form that s II at least include insurance for physical los or damage to the Work, temporary buil ngs, false work, and materials and equipme t in transit, and shall insure against at le t the following perils or causes of loss: fire, li htning, extended coverage, theft, vandalism and malicious mischief, earthquake, collapse debris removal, demolition occasio ed by enforcement of Laws and Regul tions, water damage, and such other peril or causes of loss as may be specifically req Ired by the Supplementary Conditions; 00700- 16 F:\Englneering\JWilliamsWas foontmct\Master Contract CocumeW00700- General Conditions REV 04-07.doc 3. include expenses incurred in the 00700 - General Conditions REV 04-07