Adjustment of Loss. Any loss insured under property or builders risk insurance required under this Section 14 shall be adjusted by the insurance carrier with the insured as fiduciary for the other party or parties whose interests are insured thereunder as their interests may appear, and the insured shall pay the proceeds due to them promptly. The insured shall bear the costs of the deductible, if any, under such policy.
Appears in 4 contracts
Samples: Engineering, Procurement and Construction Services Fixed Price Contract (Nedak Ethanol, LLC), Engineering, Procurement and Construction Services Fixed Price Contract (Otter Tail Ag Enterprises, LLC), Engineering, Procurement and Construction Services Fixed Price Contract (Otter Tail Ag Enterprises, LLC)
