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  2. Finance Committee - Agenda - 12/7/2016 - P93

Finance Committee - Agenda - 12/7/2016 - P93

By dnadmin on Mon, 11/07/2022 - 09:47
Document Date
Wed, 12/07/2016 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 12/07/2016 - 00:00
Page Number
93
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__120720…

(2) Industrial insurance coverage provided by the Owner;

(3) Participation in group insurance plans which may be available to employees of the Owner;

(4) Participation or contributions by either the independent contractor or the Owner to the public
employee’s retirement system;

(5) Accumulation of vacation leave or sick leave provided by the Owner;

(6) Unemployment compensation coverage provided by the Owner.

= Ali deductibles and self-insured retentions shall be fully disclosed in the certificate(s) of insurance.
If aggregate limits of less than $2,000,000 are imposed on bodily injury and property damage, Contractor

must maintain umbrella liability insurance of at least $1,000,000. All aggregates must be fully disclosed
on the required certificate of insurance.

= The specified insurance requirements do not relieve Contractor of its responsibilities or limit the amount of
its liability to the Owner or other persons, and Contractor is encouraged to purchase such additional
insurance, as it deems necessary.

@ The insurance provided herein is primary, and no insurance held or owned by the Owner shall be called

upon to contribute to a loss.
PAGE 31

§ 11.3.1 Unless otherwise provided, the Ownere-Contractor shall purchase and maintain, in a company or companies
lawfully authorized to do business in the jurisdiction in which the Project is located, property insurance written on a
builder’s risk "all-risk" or equivalent policy form in the amount of the initial Contract Sum, plus value of subsequent
Contract Modifications and cost of materials supplied or installed by others, comprising total value for the entire
Project at the site on a replacement cost basis without optional deductibles. Such property insurance shall be
maintained, unless otherwise provided in the Contract Documents or otherwise agreed in writing by all persons and
entities who are beneficiaries of such insurance, unti! final payment has been made as provided in Section 9.10 or
until no person or entity other than the Owner has an insurable interest in the property required by this Section 11.3
to be covered, whichever is later. This insurance shall include interests of the Owner, the Contractor, Subcontractors
and Sub-subcontractors in the Project.

PAGE 32

§ 11.3.1.4 This property insurance shall cover portions of the Work stored off the site, and also portions of the
Work in transit. The insurance shall include a permission to occupy endorsement.

§ 11.3.2 BOILER AND MACHINERY INSURANCE (NOTE: Does the contract involve any new boilers, compressors or
pressure vessels? If so, keep Risk in the loop)

The Owner, at the Owner’s option, may purchase and maintain such insurance as will insure the Owner against loss

of use ¢ of the Owner’ s property due t to fire or other hazards, however caused. The Over waives ait rights of action

Additions and Deletions Report for AIA Document A201™ — 2007. Copyright © 1911, 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1966, 1970, 1976,

1987, 1997 and 2007 by The American Institute of Architects. All rights reserved. WARNING: This AIA® Document is protected by U.S. Copyright Law and 4
International Treaties. Unauthorized reproduction or distribution of this AIA® Document, or any portion of it, may result in severe civil and criminal
penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 08:39:36 on 11/21/2016

under Order No.7150521749_1 which expires on 10/03/2017, and is not for resale.

User Notes: (844049242)

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Finance Committee - Agenda - 12/7/2016 - P93

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