Builders Risk Property Insurance. The CONTRACTOR shall purchase and maintain, on replacement cost basis, Builders’ Risk insurance in the amount of the initial Contract Amount, as well as subsequent modifications thereto for the entire work at the site. Such Builders’ Risk insurance shall be maintained until final payment has been made or until no person or entity other than the TOWN has an insurable interest in the property required to be covered, whichever is earlier. This insurance shall include interests of the TOWN, the CONTRACTOR, and all Subcontractors and Sub-Subcontractors in the work during the life of the Contract and course of construction, and shall continue until the work is completed and accepted by the TOWN. For new construction projects, the CONTRACTOR agrees to assume full responsibility for xxxx or damage to the work being performed and to the buildings under construction. For renovation construction projects, the CONTRACTOR agrees to assume responsibility for loss or damage to the work being performed at least up to the full amount of the Contract Amount, unless otherwise required by the Contract Documents or amendments thereto. Builders’ Risk insurance shall be on all-risk policy form and shall also cover false work and temporary buildings and shall insure against risk of direct physical loss or damage from external causes including debris removal, demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for Engineer’s service and expenses required as a result of such insured loss and other “soft costs” as required by the Contract. Builders’ Risk insurance must provide coverage from the time any covered property becomes CONTRACTOR’s control and/or responsibility, and continue without interruption during construction or renovation or installation, including any time during which the covered property is being transported to the construction installation site, and while on the construction or installation site awaiting installation. The policy will provide coverage while the covered premises are any part thereof are occupied. The Builders’ Risk insurance shall be primary and not contributory. If the Contract requires testing of equipment or other similar operations, at the option of the TOWN, the CONTRACTOR will be responsible for providing property insurance for these exposures under a Boiler Machinery policy. Required coverage’s may be modified by an amendment to the Contract Documents.
Builders Risk Property Insurance a. Subcontractor shall be liable for damage to its work until acceptance by the Owner.
Builders Risk Property Insurance. 11.1.1.1 A Builders Risk policy including a permission to occupy endorsement during the course of construction.
Builders Risk Property Insurance. During the construction of the Pretreatment Facility, either Discharger or its Contractor(s), at Discharger's discretion, shall procure and maintain a Builder’s Risk “all-risk” property insurance policy containing the following provisions:
Builders Risk Property Insurance. Builders' risk insurance in the amount of the entire cost of the Project or other construction work at or related to the Premises as well as subsequent modifications thereto. Such builder's risk insurance shall be maintained until final payment for the construction work and materials has been made and until no person or entity other than Lessee and Lessor has an insurable interest in the Premises, whichever is later. This insurance shall include interests of Lessor, Lessee and all subcontractors and sub-subcontractors involved in any Lessee’s Improvements or other construction work at or related to the Premises during the course of any construction, and shall continue until all work is completed and accepted by Lessee and Lessor. Lessee bears full responsibility for loss or damage to all work being performed and to works under construction. Builders' risk insurance shall be on special form (all risk) policy form and shall also cover false work and temporary buildings and shall insure against risks of direct physical loss or damage from external causes including debris removal and demolition occasioned by enforcement of any applicable legal requirements, and shall cover reasonable compensation for architect's service and expenses required as a result of such insured loss and other “soft costs”. Builders' risk insurance must provide coverage from the time any covered property comes under Xxxxxx's control and/or responsibility, and continue without interruption during construction or renovation or installation, including any time during which the covered property is being transported to the construction installation site, and while on the construction or installation site awaiting installation. The policy will continue to provide coverage when the covered Premises or any part thereof are occupied. Builders' risk insurance shall be primary and not contributory.
Builders Risk Property Insurance. Builder's Risk Insurance on an "all risk" basis in the amount no less than the higher of the full replacement value (exclusive of land) at completion or Lease Balance, with endorsements for contingent liability from operation of building laws, increased cost of construction and demolition due to the operation of building laws, with no co-insurance provisions, and with no right of contribution from any insurance policies carried by the Lessor or any of the financing parties. Insured perils must include but are not limited to vandalism, malicious mischief, sprinkler leakage, terrorism, earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), wind, flood, boiler and machinery accidents, and other perils normally included within the definition of extended coverage.
Builders Risk Property Insurance. (i) Builders Risk Property insurance policy including earthquake and flood shall be maintained during the course of Work being performed and include start-up and testing period coverage for installed equipment. Such policy shall provide coverage for supplies, materials and equipment being permanently incorporated into the Project while under the care, custody and control of the Seller or its contractors during the course of Work, at the Site, offsite or while in transit to the Site.
Builders Risk Property Insurance. If necessary, Vendor shall obtain and maintain property insurance written on a builder’s risk "all-risk" or equivalent policy form in the amount of the initial contract sum, plus value of subsequent contract modifications and cost of materials supplied or installed by others, comprising total value for the project in question pursuant to the Work Order, at the site on a replacement cost basis without optional deductibles. Such property insurance shall be maintained, unless otherwise provided in the Agreement or otherwise agreed in writing by all persons and entities who are beneficiaries of such insurance, until final payment has been made or until no person or entity other Aetna has an insurable interest in the property, whichever is later. This insurance shall include interests of Aetna, the Owner, the Vendor, Subcontractors and Sub-subcontractors in the Project.
Builders Risk Property Insurance. Prior to the start of construction, Borrower shall provide and maintain Builders Risk property insurance protecting such property from "Special Form" causes of loss for the actual replacement cost value of such property. Property insured under this section shall include, but not be limited to the following: All labor and materials comprising new work on the project site, including footings and foundations below grade, materials and equipment destined to become a permanent part of the finished structure and all soft costs applicable to development. Builders Risk insurance shall also extend to building materials located at off-site storage areas or in transit in amounts not less than $50,000 or actual replacement cost value, whichever is greater. The property insurance limit applicable to all property on the site shall be no less than 100% of the actual replacement cost new. The maximum deductible for Borrowers Builders Risk protection shall be $25,000.
Builders Risk Property Insurance. Contractor shall maintain Builder’s Risk property insurance coverage in the amount of replacement value of the Work. Such property insurance shall be maintained by Contractor until final payment has been made under this Agreement. This insurance shall include the interests of CADA, the State of California, Contractor, their contractors, subcontractors, as their interest may appear. This property insurance shall be on an “all‐risk” or equivalent policy form and shall include without limitation, insurance against the perils of fire, earthquake, and physical loss or damage including theft, vandalism, malicious mischief, collapse, flood, windstorm, falsework, 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. Contractor shall fund the deductible which shall not exceed $250,000. Contractor shall provide CADA with a certificate of insurance and loss payee endorsement showing proof of coverage prior to commencement of construction activities.
