Common use of Builder’s Risk Clause in Contracts

Builder’s Risk. At the discretion of the City, the Contractor, at its cost, shall obtain and maintain in the names of the City and the Contractor "all- risk" builders risk insurance (if approved by the City) upon the entire structure or structures on which the Work of this Contract is to be done and upon all material in or adjacent thereto or those that are “off-site” but which are intended for use thereon, to one hundred percent (100%) of the completed value thereof.