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the Projcc[ is located or it ccases to mect thc rcquircments of paragraph 5.1, CONTRACTOR sltali within fivz days thereafter substitute another Bond and Surcty, both oCwhicli must be acceptabte to O«'NER. Cortlractor's Liability Insurance: * 53. CONTRACTOR shall purchase and maintain such comprehensive general liability and other insurance as is appropriate for the Work being performed and furnished and as will provide protection from claims set forth be(ow which may arise out of or result from CONTR.ACTOR's perfor- mance and furnishing of the Work and CONTRACTOR's other obligations under the Contract Documents, whether it is to be performed or furnished by CONTRAC'TOR, by any Subcantractor, by anyone directly or indirectly employed by any of them to perform or furnish any of the Work, or by anyone for whose acts any of them may be liab(e: 5.3.1. Claims under workers' or workmen's compen- sation, disability benefits and other similar employee ben- cfit acts; 5.3.2. Claims for damages because of bodily injury, occupational sickness or disease, or death of CONTRAC- TOR's employees; 5.3.3. Claims for damages because of bodily injury, sickness or disease, or death of any person other than CONT'RACTOR's employees; 5.3.4. Claims for damages insured by personal injury liability coverage which are sustained (a) by any person as a result of an offense direcdy or indirectly related to the employment of such person by CONTRAGTOR, or (b) by any other person for any other reason; 5.3.5. Claims for damages, other than to the Work itsdf, bccause of injury to or destruction of tangible prop- erty wherever located, inciuding loss of use resulting therefrom; 5.3.6. Claims arising out of operation of Laws or Reg- utations for damages because of bodily injury or death of any person or for damage to propecty; and 5.3.7. Claims for damages because of bodily injury or death of any person or property damage arising out of the ownenhip, maintenance or use of any motor vehicle. The insurance required by this pacagraph 53 shall inelude the specific coverages and be written for not less than the limits of liability and covecages provided in the Supptemen- tary Conditions, or required by law, whichever is greater. The comprehensive general liability insurance shall includo completed operations insurance. All of the policies of insur- ance so required to be purchased and maintaincd (oc the certificates or other evidence theceon shall contain a provi- sion or endorscment that the covee-age affordcd wilt aot be cancelled, matcrially changed or renewal refused until at least thirty da}'s' prior writtcn notice has been givcn to 0WI.IgR and ENGINEER by certified mail. Atl such insurance shall remain in effcct until final payment and at all timcs thereafter whcn CONTRACTOR may be correcting, removing or replacing dejective Work in accordance with paragraph 13.12. In addition, CONTRACTOR shall maintain such completed opcrations insurance for at least two years after 6na1 payment and furnish OWNER with evidence of continuation of such insurance at final payment and one year thereafter. Cantractual Liability Insurance: * 5.4. The comprehensive general liability insurance required by paragraph 53 will include contractual liability insurance applicabte to CONTRACTOR's obligations under paragraphs 6.30 and 6.31. Owner's Liability Insurance: 5.5. OWNER shall be responsibte for purchasing and maintaining OWNER's own liability insurance and, at OWNER's option, may purchase and maintain such insur- ance as will protect OWNER against claims which may arise from operations under the Contract Documents. Property Insurance: 5.6. Unless otherwise provided in the Supplementary Conditions, OWNER shall purchase and maintain propeRy insunnce upon the Work at the site to the full insurabte value thereof (subject to such deductible amounts as may be pro- vided in the Supp(ementary Conditions or required by Laws and Regulations). This insurance shall include the interests of OWNER, CONTRACTOR, Subcontractors, ENGINEER and ENGINEER's consultants in the Work, all of whom 'shall be listed as insureds or additional insured parties, shall insure against the periis of fire and extended coverage and shall include "all risk" insurance for physical loss and damage inctuding theft, vandalism and malicious mischief, collapse and water damage, and such other perils as may be providcd in the Supplementary Conditions, and shall include damages, tosses and expenses arising out of or resulting from any insured loss or incurred in the repair or replacement of any insured propecty (including but not limited co fees and charges of engineers, architects, attorneys and other professionals). If not covered under the "all risk" insucance or otherivise pro- vided in the Supplementary Conditions, CONTRAGTOR shall purchase and maintain similar property insurance on portions of the Work stored on and off the site or in transit when such portions of the Work are to be included in an Application for Payment. *5.7. ONVNER shall purchase and maintain such boilerand machinery insurance oradditional property insurance as may be rcquired by the Supplementary Conditions or Laws and Regulations which will inctude the interests oC OWNER. CONTRACTOR, Subcontractors. ENGINEER AND ENGINEER's consultants in the Work, alt of whom shall be listed as insured or additionat insured parties. . *See Supplementax'y Conditions 40