Laserfiche WebLink
SDN <br /> SCOTT DANAHY NAYLON COMPANY, INC. <br /> 1/13/12 <br /> Hellas Construction, Inc. "Insured" has secured a warranty insurance policy through our <br /> firm, Scott Danahy Naylon Company Inc. Outlined below are the key terms and conditions <br /> of the warranty policy(s). <br /> 1. Insuring Agreement: <br /> In consideration of the payment of the °Policy Premium" and subject to all of the <br /> terms and conditions of the policy, the "Company" will reimburse the insured for <br /> those costs paid or incurred by the insured that it was obligated to pay or incur to <br /> fulfill its "contractual Obligations" under an "Insured Warranty". <br /> 2. Insured Warranty: <br /> ® "Insured Warranty" means any standard warranty issued by the Insured and <br /> listed in Schedule A— Insured Warranty does not include that part of any <br /> warranty that extends beyond eight years after warranted installation is <br /> completed. <br /> The Term of the warranty is to commence upon acceptance of the project by the <br /> Insured's client or at the time the turf field is used for its intended purpose <br /> whichever first occurs. <br /> 3. Claim Reporting Period: <br /> "Claim Reporting Period" means the period of time in which a claim for the costs <br /> that were paid or incurred must be made. The "Claims Reporting Period" is a <br /> period of eight (8) years from the date of each "Insured Warranty" listed in <br /> Schedule A. <br /> 4. Limit of Liability: <br /> $5,000,000 each Insured warranty. $15,000,000 aggregate for all fields installed <br /> during the 12 month period of 1/13/12 — 1/13/13. <br /> 5. Deductible: <br /> No deductible shall ever apply to the Warranty Holder. <br /> SON <br /> Hellas Construction,Inc. RFP#12-10-03 P.121 <br />