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members, partners, employees, agents, consultants and subcontractors of each and any of them,
<br />each of whom is deemed to have an insurable interest and shall be listed as a loss payee.
<br />C. All the policies of insurance (and the certificates or other evidence thereo fl required to be
<br />purchased and maintained in accordance with this Paragraph 5.06 will contain a provision or
<br />endorsement that the coverage afforded will not be canceled or materially changed or renewal
<br />refused until at least 30 days prior written notice has been given to Owner and Contractor and to
<br />each other loss payee to whom a certificate of insurance has been issued and will contain waiver
<br />provisions in accordance with Paragraph 5.07.
<br />D. Owner shall not be responsible for purchasing and maintaining any property insurance specified
<br />in this Paragraph 5.06 to protect the interests of Contractor, Subcontractors, or others in the Work
<br />to the extent of any deductible amounts that are identified in the Supplementary Conditions. The
<br />risk of loss within such identified deductible amount will be borne by Contractor, Subcontractors,
<br />or others suffering any such loss, and if any of them wishes property inswance coverage within
<br />the limits of such amounts, each may purchase and maintain it at the purchaser's own expense.
<br />E. If Contractor requests in writing that other special insurance be included in the property insurance
<br />policies provided under this Paragraph 5.06, Owner shall, if possible, include such insurance, and
<br />the cost thereof will be charged to Contractor by appropriate Change Order. Prior to
<br />commencement of the Work at the Site, Owner shall in writing advise Contractor whether or not
<br />such other insurance has been procured by Owner.
<br />5.07 Waiver of Rights
<br />A. Owner and Contractor intend that all policies purchased in accordance with Paragraph 5.06 will
<br />protect Owner, Contractor, Subcontractors, and Engineer, and all other individuals or entities
<br />identified in the Supplementary Conditions as loss payees (and the officers, directors, members,
<br />partners, employees, agents, consultants, and subcontractors of each and any of them) in such
<br />policies and will provide primary coverage for all losses and damages caused by the perils or
<br />causes of loss covered thereby. All such policies shall contain provisions to the effect that in the
<br />event of payment of any loss or damage the insurers will have no rights of recovery against any of
<br />the insureds or loss payees thereunder. Owner and Contractor waive all rights against each other
<br />and their respective officers, directors, members, partners, employees, agents, consultants and
<br />subcontractors of each and any of them for all losses and damages caused by, arising out of or
<br />resulting from any of the perils or causes of loss covered by such policies and any other properiy
<br />insurance applicable to the Work; and, in addition, waive all such rights against Subcontractors
<br />and Engineer, and all other individuals or entities identified in the Supplementary Conditions as
<br />loss payees (and the officers, directors, members, partners, employees, agents, consultants, and
<br />subcontractors of each and any of them) under such policies for losses and damages so caused.
<br />None of the above waivers shall extend to the rights that any party making such waiver may have
<br />to the proceeds of insurance held by Owner as trustee or otherwise payable under any policy so
<br />issued.
<br />B. Owner waives all rights against Contractor, Subcontractors, and Engineer, and the officers,
<br />directors, members, partners, employees, agents, consultants and subcontractors of each and any
<br />of them for:
<br />E.ICDC C-700 Standard General CondiNons of the Construcdon Contract
<br />Copyright (D 2007 NaNonal Society of Professional Engineers for EdCDC. All rights reserved.
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