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21 <br /> 9 <br /> same. If the Design-Builder shall discover any provisions in the Contract Documents which are <br /> contrary to or inconsistent with any such law, ordinance, rule, or regulation, the Design-Builder <br /> shall immediately give notice thereof to the Owner's Authorized Representative in writing, <br /> identifying any items of Work affected, and the Design-Builder shall not proceed until the <br /> Design-Builder has received written direction from the Owner's Authorized Representative with <br /> respect to these items. If the Design-Builder performs contrary to or inconsistently with any such <br /> law, ordinance, rule, or regulation without such written direction, the Design-Builder shall bear <br /> all costs which are a consequence of such performance. <br /> 3.4 At times selected by the Owner's Authorized Representative after execution by the Design- <br /> Builder of the Construction Agreement, a pre-construction conference shall be scheduled and <br /> conducted for the benefit of the Project. <br /> ARTICLE 4. BONDS <br /> 4.1 A Performance Bond in the full amount of the Contract Price shall be required of the Design- <br /> Builder to guarantee the faithful performance of the Work in compliance with the Contract <br /> Documents, in such form as may be required by applicable state and local law and approved by <br /> the Owner. The Performance Bond shall be dated the same date as the Design Build Contract <br /> and must be accompanied by a current copy of the power of attorney for the attorney-in-fact <br /> executing such bond on behalf of a surety company licensed to do business in the State of <br /> North Carolina. In the event the bond is found to be void or that the surety has insufficient funds <br /> to insure faithful completion of the Project Owner may require Design-Builder to obtain new or <br /> additional bonds. <br /> 4.2 A Payment Bond in the full amount of the Contract Price shall be required of the Design- <br /> Builder to guarantee the payment of all labor and material costs or claims in connection with <br /> compliance with the Contract. The Payment Bond shall be in such form as may be required by <br /> law and approved by the Owner. Said bond shall be dated and executed in the same manner as <br /> the Performance Bond in paragraph 4.1. In the event the bond is found to be void or that the <br /> surety has insufficient funds to insure faithful completion of the Project and related payment <br /> Owner may require Design-Builder to obtain new or additional bonds. <br /> ARTICLE 5. INSURANCE AND INDEMNITY <br /> 5.1 DESIGN-BUILDER PROVIDED INSURANCE <br /> The Design-Builder shall, without limiting its obligations or liabilities, procure, pay for and <br /> maintain such insurance as is required by law and as is required by the Agreement to protect <br /> the Design-Builder and the Owner from claims for damages for bodily injury, including death, <br /> and from claims for property damage which may arise from the Design-Builder's or its <br /> representatives', consultants', Subcontractors', agents', or employees' operations related to the <br /> Project and Work. Such insurance shall be of the kinds and have limits of liability and coverages <br /> not less than the minimum limits hereinafter specified or required by law, whichever is greater. <br /> The Owner makes no representation as to the adequacy or sufficiency of such coverages. <br /> The following requirements shall in no way be construed to limit or eliminate the liability of the <br /> Design-Builder, which arises from performance of Work under the Agreement. The Design- <br /> Builder is strictly responsible for any losses, claims, and costs of any kind which exceed the <br /> Design-Builder's limits of liability, or which may be outside the coverage scope of the policies. <br /> Revised 2/17 <br />