Agenda - 12-11-2007-4lxtr - Laserfiche WebLink

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way 6e construed to limit or eliminate the liability of the Contractor, which arises from performance of Work under the Agreement. Ttte Contractor is strictly responsible for any tosses, claims, and costs of any kind which exceed the •Contractor's limits of liability, or which may be outside the coverage scope of the policies. The•insurance specified shalt be provided by an insurer approved by the GMAR, authorized to do such business in the State•oF IJorkh Carolina, and on terms approved by the CMAR. insurance companies utilized shad have a minimum rating of A- and Class Vli as evaluated by the mast current A.M. Best Rating Guide. if the insurer has a Best Rating less Phan A- and Ciass Vit, the Contractor must receive specific written approval from the CMAR prior to proceeding with any Work under the Agreement. Ali agents and brokers shall hold valid licenses from • the State of :North Carolina. The_ Contractor shall famish to the GMAR a certificate or certificates of insurance in a form satisfactory to the CMAR contemporaneously with the executed Construction Agreement. Upon request of the CMAR, the Contractor shalt provide the CMAR wifh certified copies of the insurance policies required by this Article, 'snciuding without (imitation declaration pages, conditions, exclusions and endorsements, and confirmation that each policy premium has been paid for fhe required farm of this Agreement. Certificates of insurance shalt be signed by a person authorized by that insurer to bind coverage an its behalf. Att insurance policies shaft provide, as evidenced by Certificates of insurance, that the insurance shall not be canceled, reduced, restricted, or changed in any way without at least thirty (3t2) days prior written notice to the ~ CMAR and the Owner. With regard to expiration, cancellation, reduction, restriction, or any other change, certificates shall state: "Should any of the following described policies be canceled before expiration date or be due to expire within thirty (3t}) days, the insurer shall mail thirty (30} days prior written notice to named certificate holder:' !n the event of any such cancellation, non-renewal, reduction, restriction, or change In any insurance, the Contractor is obligated • to replace such insurance within seven (7) days without a gap in coverage and file accordingly such notice with the CMAR and the Ovvrier, and other interested parties. Failing immediate receipt of evidence of such replacement of insurance, the CMAR reserves the right to procure such insurance as the CMAR considers desirable and the Contractor shaii pay or reimburse the cost of the premium in respect thereof. It is expressly provided, however, that any acfion ar Enaction on the part of the CMAR in this respect shalt in no way change or reduce the Contractor's responsibilities and iiabiii6es under this Agreement. ~ Self-funded, policy fronting. or other non-r'~sk transfer insurance mechanisms are not acceptable without prior written approval of the GMAR. Full disclosure of such a prograrsi must be made prior to commencing mobilization fa the Project sife. Failure to make a fup disclosure constitutes a material breach of the Agreement, justifying terminafion for default. The Contractor shalt name the CMAR, the Owner, the .Designer and their respective consultants as additional insureds under all its insurance contracts (except workers' compensation} with respect to and including without tim(tatian liability arising out of activities performed by ar on behalf of the Contractor, products and completed operations of the. Contractor, and automobiles awned, hired, leased, or borrowed by the Contractor. The coverage shaft contain no special lirnitativns on the scope of protection afforded to additional insureds. For any claims related to this Project, the Contractor's insurance or selfansurance shall be primary and noncontributory with respect to the GMAR, Owner or Designer 'snsurance. Any insurance or self-insurance maintained by the CMAR, the Owner or the Designer shaii be excess and noncontributory with respect to the Contractor's insurance. AI! policies- of insurance except as noted in paragraph 5.2 shall contain a clause waiving rights of subrogation against the CMAR, the Owner and fhe Designer, unless the CMAR approves otherwise in writing. GENIlRAL CONDtTiO1VS FOR CM AT RISK PROJECT 9 of 42 JUNE 2l)t37 EDtTIOt~I