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any other individuals or entities identified in the in addition, waive all such rights against Subcontractors,
<br /> Supplementary Conditions, and the officers, directors, and Engineer, and all other individuals or entities
<br /> partners, employees, agents, consultants and identified in the Supplementary Conditions to be listed as
<br /> subcontractors of each and any of them, each of whom is insured or additional insured (and the officers, directors ,
<br /> deemed to have an insurable interest and shall be listed as partners, employees, agents, consultants and
<br /> an insured or additional insured. subcontractors of each and any of them) under such
<br /> policies for losses and damages so caused . None of the
<br /> C . All the policies of insurance (and the certificates or above waivers shall extend to the rights that any party
<br /> other evidence thereof) required to be purchased and making such waiver may have to the proceeds of
<br /> maintained in accordance with Paragraph 5 . 06 will insurance held by Owner as trustee or otherwise payable
<br /> contain a provision or endorsement that the coverage under any policy so issued.
<br /> afforded will not be canceled or materially changed or
<br /> renewal refused until at least 30 days prior written notice B . Owner waives all rights against Contractor,
<br /> has been given to Owner and Contractor and to each other Subcontractors, and Engineer, and the officers , directors ,
<br /> additional insured to whom a certificate of insurance has partners, employees, agents, consultants and
<br /> been issued and will contain waiver provisions in accor- subcontractors of each and any of them for:
<br /> dance with Paragraph 5 . 07 .
<br /> 1 . loss due to business interruption , loss of use, or
<br /> D . Owner shall not be responsible for purchasing and other consequential loss extending beyond direct
<br /> maintaining any property insurance specified in this physical loss or damage to Owner' s property or the
<br /> Paragraph 5 . 06 to protect the interests of Contractor, Work caused by, arising out of, or resulting from fire
<br /> Subcontractors , or others in the Work to the extent of any or other perils whether or not insured by Owner; and
<br /> deductible amounts that are identified in the Supple-
<br /> mentary Conditions . The risk of loss within such 2 . loss or damage to the completed Project or part
<br /> identified deductible amount will be bome by Contractor, thereof caused by, arising out of, or resulting from
<br /> Subcontractors, or others suffering any such loss, and if fire or other insured peril or cause of loss covered by
<br /> any of them wishes property insurance coverage within any property insurance maintained on the completed
<br /> the limits of such amounts, each may purchase and Project or part thereof by Owner during partial
<br /> maintain it at the purchaser ' s own expense. utilization pursuant to Paragraph 14 . 05 , after
<br /> Substantial Completion pursuant to Paragraph 14 .04 ,
<br /> E . If Contractor requests in writing that other special or after final payment pursuant to Paragraph 14 . 07 .
<br /> insurance be included in the property insurance policies
<br /> provided under Paragraph 5 . 06, Owner shall, if possible, C . Any insurance policy maintained by Owner covering
<br /> include such insurance, and the cost thereof will be any loss, damage or consequential loss referred to in
<br /> charged to Contractor by appropriate Change Order. Prior Paragraph 5 . 07 .13 shall contain provisions to the effect
<br /> to commencement of the Work at the Site, Owner shall in that in the event of payment of any such loss, damage, or
<br /> writing advise Contractor whether or not such other consequential loss, the insurers will have no rights of
<br /> insurance has been procured by Owner. recovery against Contractor, Subcontractors , or Engineer,
<br /> and the officers, directors, partners, employees, agents ,
<br /> 5 .07 Waiver of Rights consultants and subcontractors of each and any of them.
<br /> A. Owner and Contractor intend that all policies 5 . 08 Receipt and Application of Insurance Proceeds
<br /> purchased in accordance with Paragraph 5 .06 will protect
<br /> Owner, Contractor, Subcontractors, and Engineer, and all A. Any insured loss under the policies of insurance
<br /> other individuals or entities identified in the Supple- required by Paragraph 5 . 06 will be adjusted with Owner
<br /> mentary Conditions to be listed as insureds or additional and made payable to Owner as fiduciary for the insureds,
<br /> insureds (and the officers , directors, partners, employees , as their interests may appear, subject to the requirements
<br /> agents, consultants and subcontractors of each and any of of any applicable mortgage clause and of Paragraph
<br /> them) in such policies and will provide primary coverage 5 . 08 .13 . Owner shall deposit in a separate account any
<br /> for all losses and damages caused by the perils or causes money so received and shall distribute it in accordance
<br /> of loss covered thereby. All such policies shall contain with such agreement as the parties in interest may reach.
<br /> provisions to the effect that in the event of payment of If no other special agreement is reached, the damaged
<br /> any loss or damage the insurers will have no rights of Work shall be repaired or replaced, the moneys so
<br /> recovery against any of the insureds or additional insureds received applied on account thereof, and the Work and the
<br /> thereunder. Owner and Contractor waive all rights against cost thereof covered by an appropriate Change Order.
<br /> each other and their respective officers, directors,
<br /> partners, employees, agents, consultants and B . Owner as fiduciary shall have power to adjust and
<br /> subcontractors of each and any of them for all losses and settle any loss with the insurers unless one of the parties
<br /> damages caused by, arising out of or resulting from any of in interest shall object in writing within 15 days after the
<br /> the perils or causes of loss covered by such policies and occurrence of loss to Owner' s exercise of this power. If
<br /> any other property insurance applicable to the Work; and, such objection be made, Owner as fiduciary shall make
<br /> EJCDC C-700 Standard General Conditions of the Construction Contract.
<br /> Copyright © 2002 National Society of Professional Engineers for EJCDC. All rights reserved.
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