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Paragraph 5.06 will contain a provision or identified in the Supplementary Conditions to be
<br /> endorsement that the coverage afforded will not be listed as insured or additional insured (and the
<br /> canceled or materially changed or renewal refused officers, directors, partners, employees, agents,
<br /> until at least 30 days prior written notice has been consultants and subcontractors of each and any of
<br /> given to Owner and Contractor and to each other them) under such policies for losses and damages
<br /> additional insured to whom a certificate of insurance so caused. None of the above waivers shall extend
<br /> has been issued and will contain waiver provisions to the rights that any party making such waiver may
<br /> in accordance with Paragraph 5.07. have to the proceeds of insurance held by Owner as
<br /> trustee or otherwise payable under any policy so
<br /> D. Owner shall not be responsible for issued.
<br /> purchasing and maintaining any property insurance
<br /> specified in this Paragraph 5.06 to protect the B. Owner waives all rights against
<br /> interests of Contractor, Subcontractors, or others in Contractor, Subcontractors, and Engineer, and the
<br /> the Work to the extent of any deductible amounts officers, directors, partners, employees, agents,
<br /> that are identified in the Supplementary Conditions. consultants and subcontractors of each and any of
<br /> The risk of loss within such identified deductible them for:
<br /> amount will be borne by Contractor, Subcontractors,
<br /> or others suffering any such loss, and if any of them 1. loss due to business interruption, loss of
<br /> wishes property insurance coverage within the limits use, or other consequential loss extending beyond
<br /> of such amounts, each may purchase and maintain direct physical loss or damage to Owner's property
<br /> it at the purchaser's own expense. or the Work caused by, arising out of, or resulting
<br /> from fire or other perils whether or not insured by
<br /> E. If Contractor requests in writing that other Owner; and
<br /> special insurance be included in the property
<br /> insurance policies provided under Paragraph 5.06, 2. loss or damage to the completed Project
<br /> Owner shall, if possible, include such insurance, and or part thereof caused by, arising out of, or resulting
<br /> the cost thereof will be charged to Contractor by from fire or other insured peril or cause of loss
<br /> appropriate Change Order. Prior to commencement covered by any property insurance maintained on
<br /> of the Work at the Site, Owner shall in writing advise the completed Project or part thereof by Owner
<br /> Contractor whether or not such other insurance has during partial utilization pursuant to Paragraph
<br /> been procured by Owner. 14.05, after Substantial Completion pursuant to
<br /> Paragraph 14.04, or after final payment pursuant to
<br /> 5.07 Waiver of Rights Paragraph 14.07.
<br /> A. Owner and Contractor intend that all C. Any insurance policy maintained by
<br /> policies purchased in accordance with Paragraph Owner covering any loss, damage or consequential
<br /> 5.06 will protect Owner, Contractor, Subcontractors, loss referred to in Paragraph 5.07.B shall contain
<br /> and Engineer, and all other individuals or entities provisions to the effect that in the event of payment
<br /> identified in the Supplementary Conditions to be of any such loss, damage, or consequential loss, the
<br /> listed as insureds or additional insureds (and the insurers will have no rights of recovery against
<br /> officers, directors, partners, employees, agents, Contractor, Subcontractors, or Engineer, and the
<br /> consultants and subcontractors of each and any of officers, directors, partners, employees, agents,
<br /> them) in such policies and will provide primary consultants and subcontractors of each and any of
<br /> coverage for all losses and damages caused by the them.
<br /> perils or causes of loss covered thereby. All such
<br /> policies shall contain provisions to the effect that in 5.08 Receipt and Application of Insurance
<br /> the event of payment of any loss or damage the Proceeds
<br /> insurers will have no rights of recovery against any
<br /> of the insureds or additional insureds thereunder. A. Any insured.loss under the policies of
<br /> Owner and Contractor waive all rights against each insurance required by Paragraph 5.06 will be
<br /> other and their respective officers, directors, adjusted with Owner and made payable to Owner as
<br /> partners, employees, agents, consultants and fiduciary for the insureds, as their interests may
<br /> subcontractors of each and any of them for all appear, subject to the requirements of any
<br /> losses and damages caused by, arising out of or applicable mortgage clause and of Paragraph
<br /> resulting from any of the perils or causes of loss 5.08.B. Owner shall deposit in a separate account
<br /> covered by such policies and any other property any money so received and shall distribute it in
<br /> insurance applicable to the Work; and, in addition, accordance with such agreement as the parties in
<br /> waive all such rights against Subcontractors, and interest may reach. If no other special agreement is
<br /> Engineer, and all other individuals or entities reached, the damaged Work shall be repaired or re-
<br /> EJCDC C-700 Standard General Conditions of the Construction Contract.
<br /> Copyright D 2002 National Society of Professional Engineers for EJCDC. All rights resen'ed.
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<br /> 03/12 11-4179
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