Common use of Priority of Owner’s Claims Clause in Contracts

Priority of Owner’s Claims. The principal purpose of the stipulations for insurance in GC 11.1.1 is the protection of the interest of the Owner and the Lender. GC 11.1.1 stipulates that the Contractor, rather than the Owner, shall provide and maintain insurance as set out therein.

Priority of Owner’s Claims. The principal purpose of the stipulations for insurance in GC 11.1.1 is the protection of the interest of the Owner and the LenderTrustee. GC 11.1.1 stipulates that the Contractor, rather than the Owner, shall provide and maintain insurance as set out therein.