Common use of Builder's Risk/ Installation Floater/Stored Materials Clause in Contracts

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR shall purchase and maintain coverage against loss or damage to the Project in an amount equal to the Total Contract Value as set forth in B-3: Payment Terms. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and stored materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) below. b. When Services required by this Contract are to be performed on existing buildings owned by DCAMM, CONTRACTOR shall provide an installation floater, in the full amount of the Installation Costs. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) below. c. CONTRACTOR shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site location shall be forthwith replaced by CONTRACTOR at no expense to the DCAMM. d. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMM, CONTRACTOR, and all persons furnishing labor or labor and materials for the installation of New Equipment/Services, as their interests may appear. The policy or policies shall list the “Commonwealth of Massachusetts and CONTRACTOR as named insureds. e. Coverage shall include any costs for work performed by CONTRACTOR's Designer or any consultant as the result of a loss experienced during the Contract Term. f. Coverage shall include permission for temporary occupancy and a waiver of subrogation in favor of the DCAMM. g. Coverage shall be maintained throughout the Contract Term until such time as the Final Project Notification Approval has been issued. A loss under the property insurance shall be adjusted by CONTRACTOR as fiduciary and made payable to CONTRACTOR as fiduciary for the insureds. CONTRACTOR shall pay the Subcontractors their just shares of insurance proceeds received by CONTRACTOR and shall require Subcontractors to make payments to their sub-Subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR shall purchase and maintain coverage against loss or damage to the Project in an amount equal to the Total Contract Value Installation Costs as set forth in B-3Schedule B-6: Payment Terms; Total Contract Value. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and stored materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) below. b. When Services required by this Contract are to be performed on existing buildings owned by DCAMM, CONTRACTOR shall provide an installation floater, in the full amount of the Installation Costs. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) below. c. CONTRACTOR shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site location shall be forthwith replaced by CONTRACTOR at no expense to the DCAMM. d. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMM, CONTRACTOR, and all persons furnishing labor or labor and materials for the installation of New Equipment/Services, as their interests may appear. The policy or policies shall list the “Commonwealth of Massachusetts and CONTRACTOR as named insureds. e. Coverage shall include any costs for work performed by CONTRACTOR's Designer or any consultant as the result of a loss experienced during the Contract Term. f. Coverage shall include permission for temporary occupancy and a waiver of subrogation in favor of the DCAMM. g. Coverage shall be maintained throughout the Contract Term until such time as the Final Project Notification Approval has been issued. A loss under the property insurance shall be adjusted by CONTRACTOR as fiduciary and made payable to CONTRACTOR as fiduciary for the insureds. CONTRACTOR shall pay the Subcontractors their just shares of insurance proceeds received by CONTRACTOR and shall require Subcontractors to make payments to their sub-Subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR A. The Contractor shall purchase and maintain coverage against loss or damage to the Project on all Work included in this Contract in an amount equal to the Total Contract Value as set forth in B-3: Payment TermsPrice. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zoneZone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORArchitect's and Contractor's services and expenses required as a result of such insured loss. Unless otherwise specified in this Contract, the limits for earthquake and flood shall be the lesser of the Contract Price or $10,000,000. This policy and/or installation floater shall include transportation and stored materials Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) C. below. b. B. When Services required by this Contract are to Work will be performed completed on existing buildings owned by DCAMMthe Owner, CONTRACTOR the Contractor shall provide an installation floater, in the full amount of the Installation CostsContract Price. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORArchitect's and Contractor's services and expenses required as a result of such insured loss. Unless otherwise specified in this Contract, the limits for earthquake and flood shall be the lesser of the Contract Price or $10,000,000. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) C. below. c. CONTRACTOR C. The Contractor shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project Work against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site off Site location shall be forthwith replaced by CONTRACTOR the Contractor at no expense to the DCAMMAwarding Authority. d. D. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMthe Awarding Authority, CONTRACTORthe Owner, the Contractor, and all persons furnishing labor or labor and materials for the installation of New Equipment/ServicesContract Work, as their interests may appear. The policy or policies shall list the “Commonwealth Awarding Authority, the Owner, the Contractor, and Subcontractors of Massachusetts and CONTRACTOR any tier as named insureds. e. E. Coverage shall include any costs for work performed by CONTRACTOR's the Designer or any consultant as the result of a loss experienced during the Contract Termterm of this Contract. f. F. Coverage shall include permission for temporary occupancy and a waiver Waiver of subrogation Subrogation in favor of the DCAMM.Awarding Authority and Owner g. G. Coverage shall be maintained throughout until final acceptance by the Awarding Authority and Owner of the Contract Term until such time as the Final Project Notification Approval and final payment has been issued. made. H. A loss under the property insurance shall be adjusted by CONTRACTOR the Contractor as fiduciary and made payable to CONTRACTOR the Contractor as fiduciary for the insureds. CONTRACTOR The Contractor shall pay the Subcontractors subcontractors their just shares of insurance proceeds received by CONTRACTOR the Contractor and shall require Subcontractors subcontractors to make payments to their sub-Subcontractors subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR A. The Contractor shall purchase and maintain coverage against loss or damage to the Project on all Work included in this Contract in an amount equal to the Total Contract Value as set forth in B-3: Payment TermsPrice. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORDesigner’s and Contractor's services and expenses required as a result of such insured loss. This policy and/or installation floater Unless otherwise specified in this Contract, the limits for earthquake and flood shall include transportation and stored materials coverage in an amount equal to be the value lesser of the stored materials as required in Section 48.6(c) below.Contract Price or b. B. When Services required by this Contract are to Work will be performed completed on existing buildings owned by DCAMMthe Owner, CONTRACTOR the Contractor shall provide an installation floater, in the full amount of the Installation CostsContract Price. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zonezone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORDesigner’s and Contractor's services and expenses required as a result of such insured loss. Unless otherwise specified in this Contract, the limits for earthquake and flood shall be the lesser of the Contract Price or $10,000,000. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) Article XIV.6.C. below. c. CONTRACTOR C. The Contractor shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project Work against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site off -Site location shall be forthwith replaced by CONTRACTOR the Contractor at no expense to the DCAMMAwarding Authority. d. D. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMthe Awarding Authority, CONTRACTORthe Owner, the Contractor, Subcontractors, and all persons furnishing labor or labor and materials for the installation of New Equipment/ServicesWork, as their interests may appear. The policy or policies shall list the “Commonwealth Awarding Authority, the Owner, the Contractor, and Subcontractors of Massachusetts and CONTRACTOR any tier as named insureds. e. E. Coverage shall include any costs for work performed by CONTRACTOR's the Designer or any consultant as the result of a loss experienced during the Contract Termterm of this Contract. f. F. Coverage shall include permission for temporary occupancy and a waiver of subrogation in favor of the DCAMM.Awarding Authority and Owner g. G. Coverage shall be maintained throughout until Final Acceptance by the Awarding Authority and Owner of the Contract Term until such time as the Final Project Notification Approval and final payment has been issued. made. H. A loss under the property insurance shall be adjusted by CONTRACTOR the Contractor as fiduciary and made payable to CONTRACTOR the Contractor as fiduciary for the insureds. CONTRACTOR The Contractor shall pay the Subcontractors their just shares of insurance proceeds received by CONTRACTOR the Contractor and shall require Subcontractors to make payments to their sub-sub- Subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. [REVIEW ON A PER CONTRACT BASIS WITH CITY SOLICITOR WHETHER NEEDED], A. The CONTRACTOR shall purchase and maintain coverage against loss or damage to the Project on all Work included in this Contract in an amount equal to the Total Contract Value as set forth in B-3: Payment TermsPrice. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zoneZone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for Architect's and CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and stored materials Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) C. below. b. B. When Services required by this Contract are to Work will be performed completed on existing buildings owned by DCAMMthe Owner, the CONTRACTOR shall provide an installation floater, in the full amount of the Installation CostsContract Price. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for Architect's and CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) C. below. c. C. The CONTRACTOR shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project Work against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site off Site location shall be forthwith replaced by the CONTRACTOR at no expense to the DCAMMCITY. d. D. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMthe CITY, the CONTRACTOR, and all persons furnishing labor or labor and materials for the installation of New Equipment/ServicesContract Work, as their interests may appear. The policy or policies shall list the “Commonwealth CITY, the CONTRACTOR, and Subcontractors of Massachusetts and CONTRACTOR any tier as named insureds. e. E. Coverage shall include any costs for work performed by CONTRACTOR's the Designer or any consultant as the result of a loss experienced during the Contract Termterm of this Contract. f. F. Coverage shall include permission for temporary occupancy and a waiver Waiver of subrogation Subrogation in favor of the DCAMMCITY. g. G. Coverage shall be maintained throughout until final acceptance by the CITY of the Contract Term until such time as the Final Project Notification Approval and final payment has been issued. made. H. A loss under the property insurance shall be adjusted by the CONTRACTOR as fiduciary and made payable to the CONTRACTOR as fiduciary for the insureds. The CONTRACTOR shall pay the Subcontractors subcontractors their just shares of insurance proceeds received by the CONTRACTOR and shall require Subcontractors subcontractors to make payments to their sub-Subcontractors subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR A. The Contractor shall purchase and maintain coverage against loss or damage to the Project on all Work included in this Contract in an amount equal to the Total Contract Value as set forth in B-3: Payment TermsPrice. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zoneZone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORArchitect's and Contractor's services and expenses required as a result of such insured loss. Unless otherwise specified in this Contract, the limits for earthquake and flood shall be the lesser of the Contract Price or $10,000,000. This policy and/or installation floater shall include transportation and stored materials Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) C. below. b. B. When Services required by this Contract are to Work will be performed completed on existing buildings owned by DCAMMthe Owner, CONTRACTOR the Contractor shall provide an installation floater, in the full amount of the Installation CostsContract Price. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORArchitect's and Contractor's services and expenses required as a result of such insured loss. This policy and/or installation floater Unless otherwise specified in this Contract, the limits for earthquake and flood shall include transportation and Stored Materials coverage in an amount equal to be the value lesser of the stored materials as required in Section 48.6(c) below.Contract Price or c. CONTRACTOR C. The Contractor shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project Work against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site off Site location shall be forthwith replaced by CONTRACTOR the Contractor at no expense to the DCAMMAwarding Authority. d. D. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMthe Awarding Authority, CONTRACTORthe Owner, the Contractor, and all persons furnishing labor or labor and materials for the installation of New Equipment/ServicesContract Work, as their interests may appear. The policy or policies shall list the “Commonwealth Awarding Authority, the Owner, the Contractor, and Subcontractors of Massachusetts and CONTRACTOR any tier as named insureds. e. E. Coverage shall include any costs for work performed by CONTRACTOR's the Designer or any consultant as the result of a loss experienced during the Contract Termterm of this Contract. f. F. Coverage shall include permission for temporary occupancy and a waiver Waiver of subrogation Subrogation in favor of the DCAMM.Awarding Authority and Owner g. G. Coverage shall be maintained throughout until final acceptance by the Awarding Authority and Owner of the Contract Term until such time as the Final Project Notification Approval and final payment has been issued. made. H. A loss under the property insurance shall be adjusted by CONTRACTOR the Contractor as fiduciary and made payable to CONTRACTOR the Contractor as fiduciary for the insureds. CONTRACTOR The Contractor shall pay the Subcontractors subcontractors their just shares of insurance proceeds received by CONTRACTOR and shall require Subcontractors to make payments to their sub-Subcontractors in similar manner.received

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR shall purchase and maintain coverage against loss or damage to the Project in an amount equal to the Total Contract Value Installation Costs as set forth in B-3: Payment Terms. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and stored materials Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c39.6(c) below. b. When Services required by this Contract are to be performed on existing buildings owned by DCAMMCUSTOMER, CONTRACTOR shall provide an installation floater, in the full amount of the Installation Costs. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c39.6(c) below. c. CONTRACTOR shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site location shall be forthwith replaced by CONTRACTOR at no expense to the DCAMMCUSTOMER. d. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMCUSTOMER, CONTRACTOR, and all persons furnishing labor or labor and materials for the installation of New Equipment/Services, as their interests may appear. The policy or policies shall list the “Commonwealth of Massachusetts and CONTRACTOR as named insureds. e. Coverage shall include any costs for work performed by CONTRACTOR's Designer or any consultant as the result of a loss experienced during the Contract Term. f. Coverage shall include permission for temporary occupancy and a waiver Waiver of subrogation Subrogation in favor of the DCAMMCUSTOMER. g. Coverage shall be maintained throughout the Contract Term until such time as the Final Project Notification Approval has been issued. A loss under the property insurance shall be adjusted by CONTRACTOR as fiduciary and made payable to CONTRACTOR as fiduciary for the insureds. CONTRACTOR shall pay the Subcontractors their just shares of insurance proceeds received by CONTRACTOR and shall require Subcontractors to make payments to their sub-Subcontractors in similar manner.

Builder's Risk/ Installation Floater/Stored Materials. a. CONTRACTOR A. The Contractor shall purchase and maintain coverage against loss or damage to the Project on all Work included in this Contract in an amount equal to the Total Contract Value as set forth in B-3: Payment TermsPrice. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, terrorism (“certified” and “non-certified”), collapse, earthquake, flood (if the project is not in an "A" or a "V" flood zone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTORDesigner’s and Contractor's services and expenses required as a result of such insured loss. This policy and/or installation floater Unless otherwise specified in this Contract, the limits for earthquake and flood shall include transportation and stored materials coverage in an amount equal to be the value lesser of the stored materials as required in Section 48.6(c) below.Contract Price or b. B. When Services required by this Contract are to Work will be performed completed on existing buildings owned by DCAMMthe Owner, CONTRACTOR the Contractor shall provide an installation floater, in the full amount of the Installation CostsContract Price. Such coverage shall be written on an all risks basis or equivalent form and shall include, without limitation, insurance against perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood (if the project is not in an "A” or a "V" flood Zonezone), windstorm, falsework, testing and startup, temporary buildings and debris removal including demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for CONTRACTOR's services and expenses required as a result of such insured loss. This policy and/or installation floater shall include transportation and Stored Materials coverage in an amount equal to the value of the stored materials as required in Section 48.6(c) below.Designer’s c. CONTRACTOR C. The Contractor shall maintain insurance on delivered and/or stored material designated to be incorporated in the Project Work against fire, theft or other hazards. Any loss or damage of whatever nature to such material while stored at an off-site off -Site location shall be forthwith replaced by CONTRACTOR the Contractor at no expense to the DCAMMAwarding Authority. d. D. The policy or policies shall specifically state that they are for the benefit of and payable to DCAMMthe Awarding Authority, CONTRACTORthe Owner, the Contractor, Subcontractors, and all persons furnishing labor or labor and materials for the installation of New Equipment/ServicesWork, as their interests may appear. The policy or policies shall list the “Commonwealth Awarding Authority, the Owner, the Contractor, and Subcontractors of Massachusetts and CONTRACTOR any tier as named insureds. e. E. Coverage shall include any costs for work performed by CONTRACTOR's the Designer or any consultant as the result of a loss experienced during the Contract Termterm of this Contract. f. F. Coverage shall include permission for temporary occupancy and a waiver of subrogation in favor of the DCAMM.Awarding Authority and Owner g. G. Coverage shall be maintained throughout until Final Acceptance by the Awarding Authority and Owner of the Contract Term until such time as the Final Project Notification Approval and final payment has been issued. made. H. A loss under the property insurance shall be adjusted by CONTRACTOR the Contractor as fiduciary and made payable to CONTRACTOR the Contractor as fiduciary for the insureds. CONTRACTOR The Contractor shall pay the Subcontractors their just shares of insurance proceeds received by CONTRACTOR the Contractor and shall require Subcontractors to make payments to their sub-sub- Subcontractors in similar manner.