2017-194-E AMS - T.A. Loving Company to design-build services for Sportsplex field house

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DocuSign Envelope ID:865881 C3-FBC1-4A19-8098-B2B092F29435 14 a) Full insurance value of the Work, or b) Amount equal to the Contract Price for the Work, whichever is higher. The Design-Builder is responsible for all physical damage to owned or rented machinery, tools, equipment, forms, and other items owned, rented or used by the Design-Builder and/or Subcontractor(s) in the performance of the Work. The insurance coverage evidencing such shall include a waiver of subrogation in favor of the Owner. 5.1.7 Valuable Papers and Records The Design-Builder shall provide valuable papers and records insurance with coverage in an amount commensurate with project scope and set forth in the Supplementary Conditions. 5.1.8 Claims The Design-Builder shall notify the Owner within twenty-four (24) hours of any claims or alleged claims received by the Design-Builder covered by any of the policies of insurance required in the Agreement. The Design-Builder shall provide a written copy of the claim or alleged claim to the Owner within three (3) days of the Design-Builder's receipt of the claim or alleged claim. If a claim is settled to the satisfaction of the claimant, the Design-Builder shall submit a copy of the claimant's release to the Owner. If a claim or alleged claim is rejected by the Design-Builder and/or its insurance company, the Design-Builder shall immediately report this fact to the Owner. Should thirty (30) days elapse after the claim or alleged claim has been received by the Design- Builder, and the Design-Builder is not able to report a settlement or rejection of the claim, it shall report to the Owner the steps being taken with respect to the claim. Without limiting the foregoing, the Design-Builder shall notify in writing the county risk manager of any paid or incurred claims which may impair annual aggregate or general liability. 5.1.9 Deductibles and Self-insured Retentions Any deductibles or self-insured retentions must be declared to and approved by the Owner. At the option of the Owner, either: a) the insurer shall reduce to a maximum of $250,000 or eliminate such deductibles or self-insured retentions with respect to the Owner, or (b) the Design-Builder shall provide evidence of collateral provided to insurers or procure a bond guaranteeing payment of losses and related investigations, claim administration, and defense expenses within the deductible or self-insured retention amount. Any self-insured retention or deductible amount on the policy shall not reduce the amount of collectible limits or liability. 5.1.10 Subcontractors The Design-Builder shall include all Subcontractors as Insureds under its policies, or shall furnish separate certificates, policies, and endorsements for each Subcontractor the Design- Builder intends to use. If a Subcontractor does not take out insurance in its own name and the Design-Builder wishes to provide insurance protection for such Subcontractor and such Subcontractor's employees, the Design-Builder shall either (a) procure appropriate policies in the name of the Subcontractor, or (b) cause a rider or riders to be attached to the Design- Builder's policies which shall identify the Subcontractor thereby covered; provided, however, in the case of the latter option, such a rider need not be attached to the Design-Builder's workers' compensation policy if such policy by its terms is sufficiently broad to cover the employees of all Revised 2/17