07-E T-Hangar Contract Award - Laserfiche WebLink

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5.8. All the policies of insurane~ (or the ccrtificales or such waiver forms arc required of an), Subcomractor, {';: other evidence thereo0 required to be purchased lind main- CONTRACTOR will obtain thc same. { rained by OWNER in accordance with paragraphs 5.6 and 5.7 ,,viii contain a provision or endorsement thal thc coverage afforded will not be cancelled or materially changed or renewal Receipt attd Application of Proceeds: refuseduntilatleastthirtydays'priorwrittennoticehasbeen 5.12. Any insured loss under the policies of insurance given to CONTRACTOR bi,' certified mail and will contain rcquired by paragraphs 5.6 and 5.7 will be adjusted with waiver provisions in accordance with paragraph 5. I 1.2. OWNER and made payable to OWNER as trustee for the insurers, as their interests may appear, subject to the require- 5.9. OWNER shall not be responsible for purchasing and ments of any applicable mortgage clause and o,r paragraph maintaining any property insurance to protect the interests 5.13. OWNER shall deposit in a separate account any money of CONTRACTOR, Subcontractors or others in the Work to so received, and shall distribute it in accordance with such the extent of any deductible amounts that are provided in the agreement as the parties in interest may reach. If no other Supplementary Conditions. The risk of loss within the special agreement is reached the damaged Work shall be deductible amount, will be borne by CONTRACTOR, Sub- repaired or replaced, the moneys so received applied on contractor or others suffering any such loss and ifanyofthem account thereof and the Work and the cost thereof covered wishes property insurance coverage within the limits of such by an appropriate Change Order or Written Amendment. amounts, each may purchase and maintain it at the purchas- er's own expense. 5.13. OWNER as trustee shall have power to adjust and settle any loss with the insurers unless one of the parties in 5.10. If CONTRACTOR requests in writing that other interest shall object in writing within fifteen days alter the special insurance be included in the property insurance poi- occurrence of loss to OWNER's eaercise of this power. If icy, OWNER shall, if possible, include such insurance, and such objection be made, OWNER as trustee shall make set- the cost thereof will be charged to CONTRACTOR by appro- dement with the insurers in accordance with such agreement pilate Change Order or Written Amendment. Prior to cpm- as the parties in interest may reach. If required in writing by mencement of the Work at the site, OWNER shall in writing any party in interest, OWNER as trustee shall, upon the advise CONTRACTOR whether or not such other insurance occurrence of an insured loss, give bond for the proper per- has been procured by OWNER. formance of such duties. Waiver of Rights: Acceptance of Insurance: 5.1 l.I. OWNER and CONTRACTOR waive all rights 5.14. If OWNER has any objection to the coverage afforded against each other for all [osses and damages caused by by or other provisions of the insurance required to be put- any of the perils covered by the policies of insurance chased and maintained by CONTRACTOR in accordance provided in response to paragraphs 5.6 and 5.7 and any with paragraphs $.3 and 5.4 on the basis of its not compIying other propenyinsarance applicable to the Work, andalso with the Contract Documents, OWNER shall notify CON- waive all such rights against the Subcontractors, ENGI- TRACTOR in writing thereof within ten days of thc date of NEER, ENGINEER's consultants and all other parties delivery of such certificates to OWNER in accordance with named as insureds in such policies forlossesand damages paragraph 2.7. If CONTRACTOR has any objection Io the so caused. As required by paragraph 6.1 I, each subcon- coverage afforded by or other provisions of the policies of tract between CONTRACTOR and a Subcontractor will insurancerequiredtobe purchasedand maimained byOWNER contain similar waiver provisions by the Subcontractor in in accordance with paragraphs 5.6 and 5.7 on the basis of favorofOWNER, CONTRACTOR, ENGINEER, ENGI- their not complying with the Contract Documents, CON- NEER's consultants and all other parties named as insurcds. TRACTOR shall notify OWNER in writing thereof within ten None of the above waivers shall extend to the rights that days of the date of delivery of such certificates to CON- any of the insured parties may have to the proceeds of TRACTOR in accordance with paragraph 2.7. OWNER and insurance held by OWNER as trustee or otherwise p.ay- CONTRACTOR shall each provide to the other such addi- able under any policy so issued, tional information in respect of insurance provided by each as the other may reasonably request. Failure by OWNER or 5.11.2. OWNER and CONTRACTOR intend that any CONTRACTOR to give any such notice of objection within policies provided in response to paragraphs 5.6 and 5.7 the time provided shall constitute acceptance of such insur- shall protect all of the parties insured and provide primary ance purchased by the other as complying with the Contract coverage for all losses and damages caused by the perils Documents, covered thereby. Accordingly, all such policies shall con- taio provisions to the effect that in the event of payment of any loss or damage the insurer will have no rights of Partial Utilization--Prop}try Insurance: recovery against any of the panics named as insurers or 5.15. If OWNER finds it necessary to occupy or use a ~.~ additional insurers, and if the insurers require separate portion or portions of the Work prior to Substantial Comple- · waiver forms to be signed by ENGINEER or ENGI- tion of all thc Work, such use or occupancy may be accom- NEER's consultant OWNER will obtain the same, and if plished in accordance with paragraph 14.10; provided that no