Common use of All Risks Property Insurance Clause in Contracts

All Risks Property Insurance. Except as to any portion of the Project under construction which is insured by the insurance coverage provided pursuant to Section 12.1, the Proponent shall, at all times during the Affordability Period, insure and keep insured the Project and all other insurable property belonging to the Proponent and from time to time located on the Project in an amount not less than the replacement cost thereof against loss or damage by perils of “all risks” (being the perils from time to time included in the standard “all risks” policy and to the extent available and as would be obtained by a prudent owner of such a Project). If a separate policy of insurance is maintained for the boiler and pressure vessels, the policies will include a Joint Loss Agreement between insurers. The boiler and machinery coverage shall be on a repair and replacement basis, in an amount to reflect the replacement cost of the building and the contents and equipment located on the premises. The City will be included as a joint loss payee, according to its interest, on the insurance policies required in this Section 12.2.

All Risks Property Insurance. Except as to any portion of the Project Development under construction which is insured by the insurance coverage provided pursuant to Section 12.1, the Proponent shall, at all times during the Affordability Period, insure and keep insured the Project Development and all other insurable property belonging to the Proponent and from time to time located on the Project Development in an amount not less than the replacement cost thereof against loss or damage by perils of “all risks” (being the perils from time to time included in the standard “all risks” policy and to the extent available and as would be obtained by a prudent owner of such a ProjectDevelopment). If a separate policy of insurance is maintained for the boiler and pressure vessels, the policies will include a Joint Loss Agreement between insurers. The boiler and machinery coverage shall be on a repair and replacement basis, in an amount to reflect the replacement cost of the building and the contents and equipment located on the premises. The City will be included as a joint loss payee, according to its interest, on the insurance policies required in this Section 12.2.

All Risks Property Insurance. Except as to any portion of the Project under construction which is insured by the insurance coverage provided pursuant to Section 12.111.1, the Proponent shall, at all times during the Affordability Period, insure and keep insured the Project and all other insurable property belonging to the Proponent and from time to time located on the Project in an amount not less than the replacement cost thereof against loss or damage by perils of “all risks” (being the perils from time to time included in the standard “all risks” policy and to the extent available and as would be obtained by a prudent owner of such a Project). If a separate policy of insurance is maintained for the boiler and pressure vessels, the policies will include a Joint Loss Agreement between insurers. The boiler and machinery coverage shall be on a repair and replacement basis, in an amount to reflect the replacement cost of the building and the contents and equipment located on the premises. The City will be included as a joint loss payee, according to its interest, on the insurance policies required in this Section 12.211.2.