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so obtained by or for the Subcontractor and evidence thereof submitted to Owner. All required <br /> insurance shall be procured from insurance companies licensed to do business in North <br /> Carolina with a Best's Insurance Guide Rating of A- or better. Coverage for the following <br /> types of insurance shall be maintained continuously during the life of the Project until Final <br /> Completion of the Work. Coverages shall be maintained continuously during the life of the <br /> Project until Final Completion of the Work for the following types of insurance in the amounts <br /> listed: <br /> i. Worker's Compensation Insurance with limits for Coverage A Statutory - State of <br /> North Carolina and Coverage B Employers Liability $500,000 each accident and <br /> policy limit and disease each employee. <br /> ii. Comprehensive General Liability and Property Damage Insurance ($500,000 Each <br /> Occurrence; $1,000,000 Aggregate). <br /> iii. Contractual Liability (Bodily Injury and Property Damage $500,000 Each Occurrence; <br /> Property Damage$1,000,000 Aggregate). <br /> iv. Personal Injury,with Employment Exclusion deleted($1,000,000 Aggregate). <br /> v. Comprehensive Automobile Liability Insurance (Bodily Injury $100,000 Each <br /> Person/Each Accident, $300,000 Each Occurrence; Property Damage $100,000 Each <br /> Occurrence). <br /> b. Additional Insured — The Owner shall be named as additional insured on all forms of <br /> insurance except Worker's Compensation. Each certificate of insurance and policy required <br /> hereunder, except the worker's compensation policy, shall bear the provision that "The policy <br /> cannot be canceled or reduced in amount and that coverage cannot be eliminated in less than <br /> thirty (30) days after mailing written notice to the Owner of such alteration, cancellation, or <br /> elimination, the written notice to be sent by Certified Mail." <br /> c. Performance Bonds — Contractor shall furnish bonds covering the faithful performance of the <br /> Contract and payment of all obligations arising under any of the Contract Documents or related <br /> in any way to the Work. Contractor shall immediately furnish a copy of such bonds to any <br /> requesting person who appears to be a potential beneficiary of bonds covering payment <br /> obligations arising under any of the Contract Documents. This subsection 6(c) applies only to <br /> Contracts of fifty thousand dollars ($50,000.00) or more where the total cost for the project is <br /> three hundred thousand dollars($300,000.00)or more. <br /> 7. INDEMNITY <br /> a. The Contractor shall indemnify and hold harmless to the extent permitted by law the Owner <br /> and its agents and employees from and against any and all claims, damages, losses and <br /> expenses, including attorney's fees, arising out of or resulting from the performance or <br /> nonperformance of the Work, provided that any such claim, damages, loss or expense (A) is <br /> attributable to bodily injury, sickness, disease or death or injury to, or destruction of, property, <br /> including the loss of use resulting therefrom; and (B) is caused in whole or in part by any <br /> breach of any provision of the Agreement or by any negligent or wrongful act or omission of <br /> the Contractor, any Subcontractor, or supplier of the Contractor, anyone directly or indirectly <br /> employed by any of them or anyone for whose acts any of them may be liable. The <br /> indemnification obligation under this paragraph shall not be limited in any way by any <br /> limitation of the amount or type of damages, compensation or benefits payable by or for the <br /> Revised November 2011 4 <br />