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DocuSign Envelope ID:A9CF8A9E-4CDB-4BB9-A678-D4AD80CD1393 <br /> f. In addition to the foregoing limits the Contractor shall carry an umbrella <br /> policy with a minimum of$5,000,000.00 coverage. <br /> 5. Insert at the end of Subparagraph 11.1.3 the following: "Furnish one copy of <br /> certificate herein required for each copy of the agreement, specifically set forth <br /> evidence of all coverage required by Clause 11.1.2.4 of the GENERAL <br /> CONDITIONS." <br /> B. Paragraph 11.3 "PROJECT MANAGEMENT PROTECTIVE LIABILITY <br /> INSURANCE"is deleted in its entirety. <br /> C. Paragraph 11.4 "PROPERTY INSURANCE" <br /> 1. Insert the following at the end of Subparagraph 11.4.1: "The Owner will provide <br /> "All Risk" Insurance with a $10,000 deductible. The $10,000 deductible <br /> provision of the Owner's "All Risk" Insurance is to be covered by the General <br /> Contractor. <br /> 2. In Clause 11.4.1.1 in the first sentence place a period after the words "applicable <br /> legal requirements." and delete the remainder of the first sentence only. <br /> 3. In Clause 11.4.1.3 delete the word"Owner" in the first sentence and substitute in <br /> lieu thereof"Contractor". <br /> 4. In Subparagraph 11.4.3 delete the second sentence. <br /> 5. In Subparagraph 11.4.6, delete the first sentence and restate it as <br /> follows: <br /> "Before an exposure to loss may occur,the Owner shall file with the Contractor a <br /> certificate of insurance for coverages required by this Paragraph 11.4." <br /> 6. Delete Subparagraph 11.4.9 and insert in its stead the following new <br /> Subparagraph 11.4.9: "The Owner shall deposit in a separate account proceeds <br /> so received, which the Owner shall distribute in accordance with such agreement <br /> as the parties in interest may reach, or in accordance with an award." <br /> 7. Delete Subparagraph 11.4.10 and insert in its stead the following new <br /> Subparagraph 11.4.10: "The Owner as fiduciary shall have the power to adjust <br /> and settle any loss with the insurers." <br /> D. Paragraph 11.5 "PERFORMANCE BOND AND PAYMENT BOND" <br /> Delete Subparagraph 11.5.1 in its entirety and substitute in its stead the following new <br /> Subparagraph 11.5.1: <br /> 11.5.1 The Contractor, on the date of execution of the Contract, shall furnish a <br /> performance bond and payment bond with a surety licensed to conduct business in the <br /> state where the project is located and whose limits of insurability measured by the current <br /> United States Treasury Department listing of treasury limits are at least equal to the <br /> amount of the Contract, guaranteeing the completion of the Work and performance of the <br /> Contract and the payment for all labor and materials incorporated in the Work. The <br /> amount of coverage for said bonds shall be 100 percent of the Contract Sum. <br /> SGC - 16 <br />