Common use of All Risk Coverage to be provided by the Contractor Clause in Contracts

All Risk Coverage to be provided by the Contractor. If the Agreement indicates that the Contractor is responsible for providing All Risk insurance coverage for the Project, this subparagraph shall supersede subparagraph (b)(1) above and the Contractor shall then – (i) Purchase, maintain and keep in force, property insurance for the full replacement costs of the Project against all risks normally insurable covering the interest of the University, the Contractor, subcontractors, as their respective interests may appear on the building, structures, materials and equipment entering into or used in the performance of the Work, while in transit, stored on-site, or stored off-site to the full insurable value thereof. This insurance shall include “all risk” insurance for physical loss or damage including flood, earthquake, theft, vandalism, and malicious mischief. All applicable soft costs and coverage for resultant damage from design errors and faulty workmanship shall be included—the coverage to be in force until the final certificate of occupancy or acceptance by Princeton University with 30 days prior written notice if the policy is cancelled or allowed to expire or if there are any material changes in the policy related to the project. (ii) The Contractor shall be responsible for all insurable losses within the policy's deductible. (iii) Evidence of this coverage shall detail any “non-standard exclusions” as well as the deductible per loss, and shall be filed with Princeton University's Facilities Procurement Office.

All Risk Coverage to be provided by the Contractor. If the Agreement indicates that the Contractor is responsible for providing All Risk insurance coverage for the Project, this subparagraph shall supersede subparagraph (b)(1) above and the Contractor shall then – (i) Purchase, maintain and keep in force, property insurance for the full replacement costs of the Project against all risks normally insurable covering the interest of the University, the Contractor, subcontractors, as their respective interests may appear on the building, structures, materials and equipment entering into or used in the performance of the Work, while in transit, stored on-site, or stored off-site to the full insurable value thereof. This insurance shall include “all risk” insurance for physical loss or damage including flood, earthquake, theft, vandalism, and malicious mischief. All applicable soft costs and coverage for resultant damage from design errors and faulty workmanship shall be included—the coverage to be in force until the final certificate of occupancy or acceptance by Princeton University with 30 days prior written notice if the policy is cancelled or allowed to expire or if there are any material changes in the policy related to the project. (ii) The Contractor shall be responsible for all insurable losses within the policy's deductible. (iii) Evidence of this coverage shall detail any “non-standard exclusions” as well as the deductible per loss, and shall be filed with Princeton University's Facilities Procurement Office.

All Risk Coverage to be provided by the Contractor. If the Agreement indicates that the Contractor is responsible for providing All Risk insurance coverage for the Project, this subparagraph shall supersede subparagraph (b)(1) above and the Contractor shall then – (i) Purchase, maintain and keep in force, property insurance for the full replacement costs of the Project against all risks normally insurable covering the interest of the University, the Contractor, subcontractors, as their respective interests may appear on the building, structures, materials and equipment entering into or used in the performance of the Work, while in transit, stored on-siteon‐site, or stored off-site off‐site to the full insurable value thereof. This insurance shall include “all risk” insurance for physical loss or damage including flood, earthquake, theft, vandalism, and malicious mischief. All applicable soft costs and coverage for resultant damage from design errors and faulty workmanship shall be included—the coverage to be in force until the final certificate of occupancy or acceptance by Princeton University with 30 days prior written notice if the policy is cancelled or allowed to expire or if there are any material changes in the policy related to the project. (ii) The Contractor shall be responsible for all insurable losses within the policy's deductible. (iii) Evidence of this coverage shall detail any “non-standard non‐standard exclusions” as well as the deductible per loss, and shall be filed with Princeton University's Facilities Procurement Office.