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against damage because of bodily injury, including death, or damage to
<br />property of others, such insurance to afford protection to the limit of not
<br />less than One Million Dollars ($1,000,000.00) in one occurrence, and to
<br />the limit of not less than Two Million Dollars ($2,000,000.00) annual
<br />aggregate;
<br />iii. Automobile Liability. Automobile liability insurance against damage
<br />because of bodily injury, including death, or damage to property of others
<br />as the result of the operation of any automobile, with such insurance to
<br />afford protection to the limit of not less than Five Hundred Thousand
<br />Dollars ($500,000.00) for any one person, not less than One Million
<br />Dollars ($1,000,000.00) in respect to any one accident, and not less than
<br />One Hundred Thousand Dollars ($100,000.00) for property damage.
<br />iv. Excess Liability. Excess or umbrella liability insurance with limits of
<br />not less than Five Million Dollars ($5,000,000.00) per project or location
<br />aggregate (these limits apply in excess of each of the above -mentioned
<br />policies).
<br />v. Builder's Risk Insurance. Contractor shall provide Builder's Risk
<br />Insurance for the benefit of Owner, Contractor, Engineer, Engineer's
<br />Subconsultants, any and all of the permitted subcontractors as their
<br />interest may appear, and for the benefit of all parties furnishing financing
<br />to the Owner for construction to be done hereunder, all of the same to be
<br />named insureds on the said Builder's Risk policy. The perils covered shall
<br />include fire and extended coverage, plus other perils (including theft,
<br />vandalism and malicious mischief) which extend coverages to the broadest
<br />form of "all risk" coverage. This "all risk" coverage shall be in the
<br />amount of 100% of the completed insurable value of the Project. Proceeds
<br />of such Builder's Risk Insurance shall be payable to Contractor, as trustee
<br />for all interested parties, and Contractor shall adjust all losses and claims
<br />with the insurer, subject, however, to the rights of any mortgagee. Such
<br />coverage shall insure items of labor and materials connected with the
<br />Project, whether in or adjacent to the Facilities insured, materials in place
<br />or to be used as part of the permanent construction, including surplus
<br />materials, shanties, protective fences, bridges, temporary structures,
<br />miscellaneous materials and supplies incident to the work, and such
<br />scaffolding, stagings, towers, forms and equipment as are not owned or
<br />rented by Contractor, the cost of which is included in the cost of the work.
<br />c. Building Insurance. The Owner's fire and extended coverage insurance now in
<br />effect on the Facilities will cover the Owner's interest or equity in the Project;
<br />however, it will not cover the equity or interest of the Contractor nor of its
<br />materials and/or equipment at the Facilities. The coverage of the Contractor's
<br />equity and/or interest, as above, shall be the responsibility of the Contractor.
<br />3. Copies of Documents. Owner shall furnish to Contractor up to two printed hard copies
<br />of the Drawings and Project Manual.
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