Property Insurance Loss Adjustment. 12.5.1 Any insured loss shall be adjusted by the Tenant and/or the Landlord and made payable to the Tenant and/or the Landlord as trustees for the insured, as their interests may appear, subject to any applicable mortgagee clause. 12.5.2 Upon the occurrence of an insured loss, monies received will be deposited in a separate account and the trustees shall make distribution in accordance with the agreement of the parties in interest.
Appears in 3 contracts
Samples: Construction Management Agreement, Construction Contract (Navisite Inc), Construction Management Agreement (Navisite Inc)
Property Insurance Loss Adjustment. 12.5.1 9.5.1 Any insured loss shall will be adjusted by with the Tenant and/or Owner and the Landlord Construction Manager and made payable to the Tenant and/or the Landlord Owner and Construction Manager as trustees for the insuredinsureds, as their interests may appear, subject to any applicable mortgagee clause.
12.5.2 9.5.2 Upon the occurrence of an insured loss, monies received will be deposited in a separate account and the trustees shall will make distribution in accordance with the agreement of the parties in interest.
Appears in 2 contracts
Samples: Construction Manager Agreement, Construction Manager Agreement
Property Insurance Loss Adjustment. 12.5.1 11.5.1 Any insured loss shall be adjusted by with the Tenant and/or Owner and the Landlord Contractor and made payable to the Tenant and/or the Landlord Owner and Contractor as trustees for the insuredinsureds, as their interests may appear, subject to any applicable mortgagee clause.
12.5.2 11.5.2 Upon the occurrence of an insured loss, monies received will be deposited in a separate account and the trustees shall make distribution in accordance with the agreement of the parties in interest. If the trustees are unable to agree between themselves on the settlement of the loss, such dispute shall also be submitted to mediation.
Appears in 2 contracts
Samples: Design Build Agreement (Soy Energy, LLC), Design Build Agreement (Soy Energy, LLC)
Property Insurance Loss Adjustment. 12.5.1 9.4.1. Any insured loss shall will be adjusted by with the Tenant and/or Owner and the Landlord Construction Manager and made payable to the Tenant and/or the Landlord Owner and Construction Manager as trustees for the insured's, as their interests may appear, subject to any applicable mortgagee clause.
12.5.2 9.4.2. Upon the occurrence of an insured loss, monies received will be deposited in a separate account and the trustees shall will make distribution in accordance with the agreement of the parties in interest.
Appears in 1 contract
Samples: Construction Management Contract
