Owner Provided Insurance. See General Conditions for the Contract for Construction.
Owner Provided Insurance. ( If Owner provides Builder’s Risk insurance, include the clause below. If Contractor is to provide,insert this language =>{See General Conditions for the Contract for Construction} as the only sentence in this paragraph AND delete entirely paragraph 7.2.1) The Owner will provide Builder’s Risk Insurance in accordance with Paragraph 11.4 of the General Conditions for the Contract for Construction. If the Contractor is damaged by the failure or neglect of the Owner to purchase or maintain insurance as described above, without so notifying the Contractor in writing, then the Owner shall bear all reasonable costs properly attributable thereto. The Contractor shall be responsible for loss or damage resultant of poor work coordination and other similar negligence.
7.2.1 ( PROVIDE ACCURATE INFORMATION HERE) The policy, as provided under by the New Mexico Public Schools Insurance Authority Memorandum of Coverage (MOC), a summary of coverage of which is available at the New Mexico Public Schools Insurance Authority office located at 000 Xxx Xxxx Xxxxxxx, Xxxxx Xx, XX, phone (000) 000-0000 and fax 000-000-0000 or may be downloaded from a link in the PSFA website at www.nmpsfa.org.unless specifically amended otherwise, does not cover or protect Contractor or Subcontractors against theft of:
A. any building materials or supplies; or,
B. tools, machinery or equipment; and, any loss resulting there from shall be borne by the party who incurred the loss. The Contractor shall be responsible for the first $1,000 of any insured loss.
Owner Provided Insurance. Owner shall provide the following insurance with the indicated limits, with its insurance carriers, naming Contractor and Lender(s) as additional insured and shall maintain such insurance in full force and effect through the end of the warranty period or such later period as Lender(s) may reasonably require. In the event this insurance or any portion of it becomes commercially unavailable on commercially reasonable terms Owner and Contractor shall cooperate in their efforts to obtain such replacement insurance as may be available and this EPC Contract shall be modified accordingly:
(a) Control of xxxxx insurance - (repair and replacement value); and
(b) All other insurances reasonably required by Lender(s).
Owner Provided Insurance. (a) Owner shall carry and maintain, or cause to be maintained, throughout the Term of this Agreement, at its own expense, insurance with coverage as follows:
i. Excess (or Umbrella)
Owner Provided Insurance. 7.3.1 Coverages - Owner shall commencing on or before (x) the Notice to Proceed Date in the case of insurance provided in accordance with paragraphs i and ii below and (y) the Commencement Date in the case of insurance provided in accordance with paragraph iii below, and continuing throughout the term of this Agreement and any renewal thereof carry and maintain or cause to be maintained, at its own expense, insurance with coverage as follows:
Owner Provided Insurance. NOT USED
11.1 Owner Controlled Insurance Program (OCIP): The Owner has elected to implement an Owner Controlled Insurance Program (OCIP) for this Project. Refer to the Project Insurance specification for additional requirements. In addition, the Contractor will be required to provide the following additional insurance coverage:
11.1.1 Provide Automobile Liability as set forth in the Uniform General Conditions for University of Texas System Building Construction Contracts.
11.1.2 Contractor’s construction cost shall exclude the cost of premiums for insurance coverage provided through the OCIP. The cost shall only include the cost of premiums of all other insurance required by the Contract Documents.
11.1.3 Contractor shall include required OCIP insurance information in trade packages and indicate on proposal forms the insurance that proposers are to include and exclude in their base proposals.
11.1.4 During construction, Owner may audit the Contractor’s and Subcontractors’ labor hours and certified payroll reports to determine actual insurance costs (audit not for return of cost savings).
Owner Provided Insurance. Owner shall obtain and maintain at Owner’s expense, builder’s risk insurance for the Facility and show Owner’s Financing Party as additional insured and loss payee, on an “all risk” replacement-cost basis in a completed value form with extended coverage until the date when the Facility is declared by Owner to be in Commercial Operation. This insurance shall provide:
(a) property coverage for the Facility, which insurance shall include coverage for removal of debris and shall insure the buildings, structures, machinery, equipment, facilities, fixtures and other properties constituting a part of the Facility, in a minimum amount equal to the probable maximum loss of the Facility;
(b) off-site coverage including transit coverage with sub-limits to insure the full replacement value with no co-insurance of any key equipment item, and coverage with sub-limits sufficient to insure the full replacement value of any property or equipment not stored on the Job Site;
(c) identical coverage for operational testing and other operation of the Facility prior to the date the Facility is declared by Owner to be in Commercial Operation;
(d) coverage for flood, earthquake, and windstorm with sub-limits of Twenty Million Dollars ($20,000,000) (in the aggregate); and
(e) the policy shall name Contractor, Contractor’s Construction Manager, contractors, and subcontractors of every tier as their interests may appear.
Owner Provided Insurance. The Owner will not provide Builder’s Risk.
Owner Provided Insurance. 21.2.1. The Owner shall be responsible for purchasing and maintaining the Owner's usual liability insurance. Sample
21.2.2. Unless otherwise provided, the Owner shall purchase and maintain, or cause the CM or the contractors to purchase and maintain, until Project completion, property insurance written on a builder's risk "all-risk" or equivalent policy form in the amount of the entire Project construction cost on a replacement cost basis without optional deductibles. Property insurance shall be on an "all-risk" or equivalent policy form and shall include, without limitation, insurance against the perils of fire (with extended coverage) and physical loss or damage including, without duplication of coverage, theft, vandalism, malicious mischief, collapse, earthquake, flood, 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 the Architect's services and expenses required as a result of such insured loss. The Owner and the Architect waive all rights against each other and their respective Design Consultants, contractors and the CM for damages caused by fire or other causes of loss to the extent covered by property insurance obtained pursuant to this Paragraph or other property insurance applicable to the Work. The Owner and the Architect, as appropriate, shall require of the CM, the Design Consultants, separate contractors, if any, and the subcontractors, sub- subcontractors, agents and employees of any of them, by appropriate agreements, written where legally required for validity, similar waivers each in favor of other parties enumerated in this Paragraph. The policies shall provide such waivers of subrogation by endorsement or otherwise. A waiver of subrogation shall be effective as to a person or entity even though that person or entity would otherwise have a duty of indemnification, contractual or otherwise, did not pay the insurance premium directly or indirectly, and whether or not the person or entity had an insurable interest in the property damaged. If during the Project the Owner insures properties, real or personal or both, at or adjacent to the site by property insurance under policies separate from those insuring the Project, or if after final payment property insurance is to be provided on the completed Project through a policy or policies other than those insuring the Project during the ...
Owner Provided Insurance
