Finance Committee

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§ 11.4 PERFORMANCE BOND AND PAYMENT BOND

§ 11.4.1 The Owner shall have the right to require the Contractor to furnish bonds covering faithful performance of
the Contract and payment of obligations arising thereunder as stipulated in bidding requirements or specifically
required in the Contract Documents on the date of execution of the Contract.

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Contractor shall carry and maintain in effect during the performance of services under this contract:

Comprehensive or Commercial General Liability insurance which shall include contractual, XCU, products and
completed operations liability coverages. Bodily injury and property damage with combined single limits of not
less than $1,000,000 per occurrence; and if written on an aggregate basis, $2,000,000 aggregate limit — include per
project aggregate endorsement. The Owner must be named as an additional insured;

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responsible for materials or substances required by the Contract Documents, except to the extent of the Contractor’s
fault or negligence in the use and handling of such materials or substances.

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and not attributable to the fault or negligence of the Contractor. The foregoing obligations of the Contractor are in
addition to the Contractor’s obligations under Section 3.18.

§ 10.2.6 The Contractor shall designate a responsible member of the Contractor’s organization at the site whose duty
shall be the prevention of accidents. This person shall be the Contractor’s superintendent unless otherwise
designated by the Contractor in writing to the Owner and Architect.

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interests or encumbrances arising out of the Contract, to the extent and in such form as may be designated by the
Owner. If a Subcontractor refuses to furnish a release or waiver required by the Owner, the Contractor may furnish a
bond satisfactory to the Owner to indemnify the Owner against such lien. If such lien remains unsatisfied after
payments are made, the Contractor shall refund to the Owner all money that the Owner may be compelled to pay in
discharging such lien, including all costs and reasonable attorneys’ fees.

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that the Owner can occupy or utilize the Work or designated portion thereof for its intended use, the Contractor
shall, before issuance of the Certificate of Substantial Completion, complete or correct such item upon notification
by the Architect. In such case, the Contractor shall then submit a request for another inspection by the Architect to
determine Substantial Completion.

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§ 9.5.3 If the Architect withholds certification for payment under Section 9.5.1.3, the Owner may, at its sole option,
issue joint checks to the Contractor and to any Subcontractor or material or equipment suppliers to whom the
Contractor failed to make payment for Work properly performed or material or equipment suitably delivered. If the
Owner makes payments by joint check, the Owner shall notify the Architect and the Architect will reflect such
payment on the next Certificate for Payment.

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compliance by the Contractor with procedures satisfactory to the Owner to establish the Owner’s title to such
materials and equipment or otherwise protect the Owner’s interest, and shall include the costs of applicable
insurance, storage and transportation to the site for such materials and equipment stored off the site.