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shall increase the coverage limits as necessary to reflect changes in the 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 (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 against 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 />Owner's property insurance covering such structure and its contents. <br />If the Owner occupies 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 />such 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 include, but 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 Contractor's 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 your liability 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 JUNE 2007 EDITION