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DocuSign Envelope ID: B49FB256 -4ADF- 4759- AF63- 134AD44FC239 <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 />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 />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 />