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DocuSign Envelope ID:2E5A8509-E4CD-4A45-9241-C69B05F6A27D <br /> 14 <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 shall <br /> include a waiver of subrogation in favor of the Owner. <br /> 5.1.7 Valuable Papers and Records <br /> The Contractor shall provide valuable papers and records insurance with coverage in an <br /> amount commensurate with project scope and set forth in the Supplementary General <br /> Conditions. <br /> 5.1.8 Claims <br /> The Contractor shall notify the Owner within 24 hours of any claims or alleged claims received <br /> by the Contractor covered by any of the policies of insurance required in this Agreement. The <br /> Contractor shall provide a written copy of the claim or alleged claim to the Owner within 3 days <br /> of the Contractor's receipt of the claim or alleged claim. If a claim is settled to the satisfaction of <br /> the claimant, the Contractor shall submit a copy of the claimant's release to the Owner. If a <br /> claim or alleged claim is rejected by the Contractor and/or its insurance company, the <br /> Contractor shall immediately report this fact to the Owner. <br /> Should 30 days elapse after the claim or alleged claim has been received by the Contractor, <br /> and the Contractor is not able to report a settlement or rejection of the claim, it shall report to the <br /> Owner the steps being taken with respect to the claim. Without limiting the foregoing, the <br /> Contractor shall notify in writing the county risk manager of any paid or incurred claims which <br /> may impair annual aggregate or general liability. <br /> 5.1.9 Deductibles and Self-insured Retentions <br /> Any deductibles or self-insured retentions must be declared to and approved by the Owner. At <br /> the option of the Owner, either: a) the insurer shall reduce to a maximum of $250,000 or <br /> eliminate such deductibles or self-insured retentions with respect to the Owner, or (b) the <br /> Contractor shall provide evidence of collateral provided to insurers or procure a bond <br /> guaranteeing payment of losses and related investigations, claim administration, and defense <br /> expenses within the deductible or self-insured retention amount. Any self-insured retention or <br /> deductible amount on the policy shall not reduce the amount of collectible limits or liability. <br /> 5.1.10 Subcontractors <br /> The Contractor shall include all Subcontractors as Insureds under its policies, or shall furnish <br /> separate certificates, policies, and endorsements for each Subcontractor the Contractor intends <br /> to use. If a Subcontractor does not take out insurance in his own name and the Contractor <br /> wishes to provide insurance protection for such Subcontractor and such Subcontractor's <br /> employees, the Contractor shall either (a) procure appropriate policies in the name of the <br /> Subcontractor, or (b) cause a rider or riders to be attached to the Contractor's policies which <br /> shall identify the Subcontractor thereby covered; provided, however, in the case of the latter <br /> option, such a rider need not be attached to the Contractor's workers' compensation policy if <br /> such policy by its terms is sufficiently broad to cover the employees of all Subcontractors <br /> performing Work under the Contract Documents. Except as otherwise approved by the Owner in <br /> writing, Limits of Liability and coverage scope must be at a minimum as stringent as required of <br /> the Contractor by the Contract Documents. All Work performed for the Contractor by any <br /> Subcontractor shall be pursuant to an appropriate agreement between the Contractor and the <br /> Revised 6/16 <br />