Common use of PROPERTY COVERAGE INSURANCE Clause in Contracts

PROPERTY COVERAGE INSURANCE. 3.1 The Owner will provide, maintain and pay for Course of Construction coverage, against “All Risks” of direct physical loss or damage including flood and earthquake, and will cover all materials, property, structures and equipment purchased for, entering into, or forming part of the Work whilst located anywhere within Canada and continental United States of America during construction, erection, installation and testing, but such coverage will not include coverage for Design-Builder’s and Subcontractors’ equipment of any description. Such coverage will be maintained until Substantial Completion of the Project. There will be a deductible of ( ) for each and every occurrence except for the peril of earthquake which will have a (subject to minimum deductible based upon the total project value insured. A 1 day waiting period for each month of the project duration subject to a minimum waiting period of 30 days will apply with respect to soft costs. 3.2 The coverage will include as a protected entity, Infusion, Black & XxXxxxxx Limited and each Design-Builder, Subcontractor, Architect or Engineer who is engaged in the Project. 3.3 The coverage will contain a waiver of the Owner's rights of subrogation against all protected entities except where a loss is deemed to have been caused by or resulting from any error in design or any other professional error or omission, or manufacturers (not employees of the insured). 3.4 The Design-Builder will, at his own expense, take special precaution to prevent fires occurring in or about the Work and will observe, and comply with, all insurance policy warranties and all laws and regulations in force respecting fires.

PROPERTY COVERAGE INSURANCE. 3.1 The Owner will provide, maintain and pay for Course of Construction coverage, against “All Risks” of direct physical loss or damage including flood and earthquake, and will cover all materials, property, structures and equipment purchased for, entering into, or forming part of the Work whilst located anywhere within Canada and continental United States of America during construction, erection, installation and testing, but such coverage will not include coverage for Design-Builder’s and Subcontractors’ equipment of any description. Such coverage will be maintained until Substantial Completion of the Project. There will be a deductible of ( ) for each and every occurrence except for the peril of earthquake which will have a (subject to minimum deductible based upon the total project value insured. A 1 day waiting period for each month of the project duration subject to a minimum waiting period of 30 days will apply with respect to soft costs. 3.2 The coverage will include as a protected entity, Infusion, Black & XxXxxxxx Limited and each Design-Builder, Subcontractor, Architect or Engineer who is engaged in the Project. 3.3 The coverage will contain a waiver of the Owner's rights of subrogation against all protected entities except where a loss is deemed to have been caused by or resulting from any error in design or any other professional error or omission, or manufacturers (not employees of the insured). 3.4 The Design-Builder will, at his own expense, take special precaution to prevent fires occurring in or about the Work and will observe, and comply with, all insurance policy warranties and all laws and regulations in force respecting fires.

PROPERTY COVERAGE INSURANCE. 3.1 The Owner will provide, maintain and pay for Course of Construction coverage, against “All Risks” of direct physical loss or damage including flood and earthquake, and will cover all materials, property, structures and equipment purchased for, entering into, or forming part of the Work whilst located anywhere within Canada and continental United States of America during construction, erection, installation and testing, but such coverage will not include coverage for Design-Builder’s and Subcontractors’ equipment of any description. Such coverage will be maintained until Substantial Completion of the Project. There will be a deductible of ( ) for each and every occurrence except for the peril of earthquake which will have a (subject to minimum deductible based upon the total project value insured. A 1 day waiting period for each month of the project duration subject to a minimum waiting period of 30 days will apply with respect to soft costs. 3.2 The coverage will include as a protected entity, Infusion, Black & XxXxxxxx Limited and each Design-Builder, Subcontractor, Architect or Engineer who is engaged in the Project. 3.3 The coverage will contain a waiver of the Owner's rights of subrogation against all protected entities except where a loss is deemed to have been caused by or resulting from any error in design or any other professional error or omission, or manufacturers (not employees of the insured). 3.4 The Design-Builder will, at his own expense, take special precaution to prevent fires occurring in or about the Work and will observe, and comply with, all insurance policy warranties and all laws and regulations in force respecting fires.fires.‌

PROPERTY COVERAGE INSURANCE. ‌ 3.1 The Owner will provide, maintain and pay for Course of Construction coverage, against “All Risks” of direct physical loss or damage including flood and earthquake, and will cover all materials, property, structures and equipment purchased for, entering into, or forming part of the Work whilst located anywhere within Canada and continental United States of America during construction, erection, installation and testing, but such coverage will not include coverage for Design-Builder’s and Subcontractors’ equipment of any description. Such coverage will be maintained until Substantial Completion of the Project. There will be a deductible of ( ) for each and every occurrence except for the peril of earthquake which will have a (subject to minimum deductible based upon the total project value insured. A 1 day waiting period for each month of the project duration subject to a minimum waiting period of 30 days will apply with respect to soft costs. 3.2 The coverage will include as a protected entity, Infusion, Black & XxXxxxxx Limited and each Design-Builder, Subcontractor, Architect or Engineer who is engaged in the Project. 3.3 The coverage will contain a waiver of the Owner's rights of subrogation against all protected entities except where a loss is deemed to have been caused by or resulting from any error in design or any other professional error or omission, or manufacturers (not employees of the insured). 3.4 The Design-Builder will, at his own expense, take special precaution to prevent fires occurring in or about the Work and will observe, and comply with, all insurance policy warranties and all laws and regulations in force respecting fires.