Orange County NC Website
Browse       Search
shall increase' the coverage limits as necessary to reflect changes In th . e estimated <br />replacement cost of the Project. <br />The CMAR shall provide the Contractor, if requested, with copies of all, policies thus <br />obtained for 'the Project. . The CMAR shall provide the Contractor •with thirty irty (30) days <br />notice of cancellation, non-renewal or endorsement reducing or restricting coverage. - <br />The Contractor and the CMAR waive all rights against each other and a . gainst the other'.. <br />separate contractors, the Owner, and their respective consultants, agents and employees <br />for damages occurring during construction and covered by builder's risk and any property., <br />insurance required for this Project excluding Owners' Property insurance. The Contractor <br />and the CMAR shall each require appropriate similar' waivers from the Owner, the other <br />separate contractors, their Subcontractors, and their consultants and agents. This waiver <br />does not apply to design liability. <br />The Contractor is responsible for all physical damage to owned or rented machinery, tools, <br />equipment, forms, and other items owned, rented or used by the Contractor and/or <br />Subcontractor(s) in the performance of the Work. The insurance coverage evidencing such <br />shall include a waiver of subrogation in favor of the CMAR, the Owner and the Designer <br />and their respective consultants and agents. <br />The Contractor shall provide valuable papers and records insurance with coverage in an <br />amount commensurate with project scope as set forth -in the Supplementary General <br />Conditions.' <br />'if the Project includes as addition'to or is adjacent to an existing structure, the CMAR, the <br />separate Contractors*and the Subcontractors shall be named as additional insureds for the <br />Owners property insurance covering such structure and its contents. <br />If the Owner ocdu'pies or uses a part or parts of the Project prior to Substantial Completion <br />thereof, such occupancy shall not occur until the Owner obtains property insurance for the <br />.structure and until all insurance companies providing insurance for the Project consent to <br />%ich• occupancy by endorsement to the insurance policies. <br />5.3 OWNER CONTROLLED PROJECT SPECIFIC INSURANCE <br />In the event the Owner elects to purchase project-specific insurance affording coverage to <br />-the Contractor and Subcontractors, the terms and conditions of such coverage shall be set <br />forth in the Supplementary Conditions. <br />5.4 CONTRACTOR AS JOINT VENTURE <br />-If the -Contractor is completing this Project on a joint, venture basis, both joint venture <br />partners retain all liabilities assumed by this Agreement, individually and collectively. This <br />-.may incl*ude;'bbt is not limited to, all premiums due, deductibles/self-insured retentions, <br />coinsurance provisions, claim provisions, insurance policy conditions, -and indemnification <br />provisions hereunder. <br />Evidence of a. Blanket Joint Venture Endorsement must be obtained from the General <br />Liability 'and Contractors Pollution Legal Liability carriers of each joint venture partner <br />substantially as follows: <br />With respect to "your work", and the 'products-completed operations hazard", you are an <br />Insured for yourflability arising out of the conduct of any partnership or joint .venture of <br />which you were *a partner or member, even though this partnership or joint venture is not <br />shown as a'Named Insured in the Declarations.. This coverage is excess over-any <br />GENERAL CONDITIONS FOR CM AT RISK PROJECT- 14 of 42 <br />JUNE 2007. EDITION <br />