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agentsinsurers in accordance with such agreement as the Ain + " f + : ^ " ^ R d aRy of +"^m fw• parties in interest may reach . If no such agreement among the parties in interest is reached , OWNER as I IAsR due to bUGine66 ' IFFF ^+'^^ fiduciary shall adjust and settle the loss with the less of use, +" ^^f'^I less insurers and , if required in writing by any party in interest, OWNER as fiduciary shall give bond for the r oF etheF peril whet" ^^* insuFed by 5 .09 Acceptance of Bonds and Insurance; Option OWNERi and to Replace objection to the coverage afforded by or other py vi- sions of the Bonds or insurance required 6 be CAJRP f lessGE)YeFed byaR)lwee purchased and maintained by the other party ' accor- the eempleted o.^ ct dance with Article 5 on the basis of non-c formance with the Contract Documents, the objecti party shall so notify the other party in writing with' 10 days after receipt of the certificates (or other evidence 14 .04 , eF a#AFs ^I r ^' m eRt PUFS61ant to requested ) required by paragrap 2 .05.C. OWNER rig,ap^" � v and CONTRACTOR shall eac provide to the other -+.,,on such additional information I respect of insurance provided as the other m reasonably request. If either party does not p hase or maintain all of the f d . " 5 .07 - 8 Shall ^^+^'^ Bonds and insurance equired of such party by the PFGV+� V V Contract Document , such party shall notify the other any 66IGh less , damage, GF GeR6eqUeRtJ1aI less party in writing of uch failure to purchase prior to the II hAVOL Re Fights ofFeGGvery ''test start of the Wor , or of such failure to maintain prior to GONTRAGTOR, S; 1E1bGGRtraGtGF6 , €NGIN €€Ra any change in the required coverage. Without G and the o4t; is direGwr prejudice t any other right or remedy, the other party may ele to obtain equivalent Bonds or insurance to and I : " and d @RY Of theM.- such other party's interests at the expense of so the rty who was required to provide such coverage , 5 .08 Receipt and Application of Insurance an a Change Order shall be issued to adjust the Proceeds r A. n iRqWFPd I^^^ undpin the ^^I'^'mss-.-af 5 . 10 Partial Utilization, Acknowledgment of insurance required by paragraph 5.06 will be adjust Property Insurer with OWNER and made payable to OWNER as 11111111 fiduciary for the insureds, as their interests may A. If OWNER finds it necessary to occupy or use appear, subject to the requirements of any ap icable a portion or portions of the Work prior to Substantial mortgage clause and of paragraph 5.08.B . WNER Completion of all the Work as provided in paragraph • shall deposit in a separate account any money so 14 .05 , no such use or occupancy shall commence received and shall distribute it in ac rdance with before the insurers providing the property insurance such agreement as the parties in inte st may reach. pursuant to paragraph 5.06 have acknowledged If no other special agreement ' reached, the notice thereof and in writing effected any changes in damaged Work shall be repair e or replaced, the coverage necessitated thereby. The insurers moneys so received applied on ccount thereof, and providing the property insurance shall consent by the Work and the cost t reof covered by an endorsement on the policy or policies, but the .� appropriate Change Order o ritten Amendment. property insurance shall not be canceled or permitted to lapse on account of any such partial use or B. OWNER as fi ciary shall have power to occupancy. adjust and settle any I ss with the insurers unless one • of the parties in int est shall object in writing within 15 days after th occurrence of loss to OWNER's ARTICLE 6 - CONTRACTOR'S RESPONSIBILITIES exercise of this power. If such objection be made, OWNER as uciary shall make settlement with the _ D0700 - General Conditions REV 04-07 00700 - 18 F:Tngineed UWillumsVdasterConVactUAasler Contract Docunrents\00700 - General Conditions REV 04-07.doc