Reso 2010-1522 - Laserfiche WebLink

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5.3.1 Design Builder shall procure and maintain at its own expense the following types and amounts of insurance, in form and companies satisfactory to the ::'11'';00 Flo",,, - g9';l~K ~ ~";'.;.~ maintain an Installation Floater on an hall risk" basis, . including but not limited to, the perils of theft, 6.1 vandalism and malicious mischief, on 100 percent of the value of the contract or 100 percent on that 6.1.1 Within ten (10) days of execution of the portion of the Contract that is insurable under an Agreement, Design-Builder shall submit for Owner's Installation Floater in a form satisfactory to the review and approval a schedule of values for all of the Owner, and for the benefit of the Owner, Design- Work. The Schedule of Values will (i) subdivide the Builder and subcontractors as their interests may Work into its respective parts, (ii) include values for all appear. The Owner, Design-Builder and any items comprising the Work and (iii) serve as the basis subcontractor insured therein waive al\ rights against each other for damage caused by fire and other perils to :r.l:onththly ~rogr~ss payments made to Design- the extent covered by the insurance obtained pursuant UI er roug out t e Work. to this paragraph. C/}/ll/ A ., ~~ \""0 f V tpV~~ Monthly Progress Payments B 'Id . R' k T'\' . . .~ .. UI ers. IS' - uRn ~... 1'-! rpq111r~nl tQ maIntaIn Builders Risk Insurance on an "all ris\.;" basis. 6.2 On or before the date established in the including but not limited to the completed value basi~ Agreement, Design-Builder shall submit lor Owner"s on the insurable portion of the work for the benefit of review and approval its Application for Payment the Owner, Design-Builder and subcontractors as their requesting payment for all Work performed as of the interests may appear. The Owner, Design-Builder and date of the Application for Payment. The Application any subcontractor insured therein waive al\ rights for Payment shall be accompanied by al\ supporting against each other for damages caused by fire and other documentation required by the Contract Documents perils to the extent covered by the insurance obtained and/or established at the meeting required by Section pursuant to this paragraph 2.1.4 hereof. interest, including, but not limited to, any associated or subsidiary companies involved in the work, for errors or omissions in the performance of professional services to be rendered pursuant to this Agreement. The limit of liability of Professional Liability Insurance shall be no less than $1,000,000. 5.2 Owner's Liability Insurance 5.2.1 Owner shall procure and maintain from insurance companies authorized to do business in the state in which the Project is located such liability insurance to protect Owner from claims which may arise from the performance of Owner's obligations under the Contract Documents or Owner's conduct during the course of the Project. In lieu of providing evidence of purchased insurance, Owner may provide evidence of self insurance for claims which may arise from the liability exposure referenced in this Section. 5.3 Design-Builder's Property Insurance Builders' Risk Insurance is required when the project includes or consists of construction, fabrication, installation, erection, repair, alteration or completion of a facility. 5.3.2 - 5.3.4 Reserved 5.3.5 Owner and Design-Builder waive against each other and Owner's separate contractors, Design Consultants, Subcontractors, agents and employees of each and all of them, all damages covered by property insurance provided herein, except such rights as they may have to the proceeds of such insurance. Design- builder and Owner shall, where appropriate, require similar waivers of subrogation ti'om Owner's separate contractors, Design Consultants and Subcontractors and shall require each of them to include similar waivers in their contracts. 5.4 Bonds and Other Performance Security 5.4.1 If Owner requires Design-Builder to obtain performance and labor and material payment bonds, or other forms of performance security, the amount, for m and other conditions of such security shall be as set forth in the Agreement. Article 6 Payment Schedule of Values 8