Common use of Construction of Project; Insurance Clause in Contracts

Construction of Project; Insurance. (a) Redeveloper will complete the Public Improvements and Private Improvements and install all equipment necessary to operate the Public Improvements and Private Improvements no later than the Project Completion Date. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Public Improvements and Private Improvements. Promptly after completion by Redeveloper of the Public Improvements and Private Improvements, Redeveloper shall furnish to the CDA a Certificate of Completion, the form of which is attached as Exhibit “D” and incorporated by this reference. If signed by the CDA, then the certification by Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Agreement with respect to the obligations of Redeveloper to construct the Public Improvements and Private Improvements. (b) Any contractor chosen by Redeveloper or Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance) and a penal bond as required by the Act. Redeveloper shall be named as an additional insured. Any contractor chosen by Redeveloper or Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance). This insurance shall insure against the perils of fire and extended coverage and shall include “special causes of loss” insurance for physical loss or damage.

Construction of Project; Insurance. (a) Redeveloper will complete the Public Improvements and Private Improvements as described on Exhibit “A” and install all equipment necessary to operate the Public Improvements and Private Improvements no later than the Project Completion Date. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Public Improvements and Private Improvements. Promptly after completion by Redeveloper of the Public Improvements and Private Improvements, Redeveloper shall furnish to the CDA a Certificate of Completion, the form of which is attached as Exhibit “DC” and incorporated by this reference. If signed by the CDA, then the certification by Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Agreement with respect to the obligations of Redeveloper to construct the Public Improvements and Private Improvements. (b) Any contractor chosen by Redeveloper or Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance) and a penal bond as required by the Act. Redeveloper shall be named as an additional insured. Any contractor chosen by Redeveloper or Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance). This insurance shall insure against the perils of fire and extended coverage and shall include “special causes of loss” insurance for physical loss or damage.

Construction of Project; Insurance. (a) Redeveloper will complete the Public Improvements and Private Improvements Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Public Improvements and Private Improvements no later than the Project Completion DateProject. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Public Improvements Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and Private Improvementsat such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of each Phase of the Public Improvements and Private ImprovementsProject, the Redeveloper shall furnish to the CDA Authority a Certificate of Completion, Completion (supported by such architect's or engineer's certificates as are required under the form of which is attached as Exhibit “D” and incorporated by this reference. If signed by the CDA, then the certification by Redeveloper shall be a conclusive determination of satisfaction terms of the agreements and covenants contract documents) for such Phase, including each structure or element of infrastructure completed in this Redevelopment Agreement with respect to the obligations of Redeveloper to construct the Public Improvements and Private Improvements.such Phase. Innate Development 2 Areas 33 Legacy 34 2022 Contract Page 9 (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and completed operations (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance) and a penal bond or bonds as required by the ActAct or as is otherwise required by law. The City, the Authority and the Redeveloper shall be named as an additional insuredinsureds. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof (provided that Redeveloper may self-insure in lieu of obtaining and keeping in force such policy of insurance)thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “special causes of loss” 'All Risk" insurance for physical loss or damage. The contractor with respect to any specific contract or the Redeveloper shall also carry insurance on all stored materials. The contractor or the Redeveloper, as the case may be, shall furnish the Authority and the City with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies.