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B. Maintenance Bond <br /> 1. The Contractor shall, prior to the release of Final Payment, furnish separate <br /> Maintenance (or Guarantee) Bonds in form acceptable to the Owner written by the <br /> same corporate surety that provides the Payment and Performance Bond for this <br /> Contract. <br /> 2. These bonds shall secure the Contractor's obligation to replace or repair defective <br /> materials and faulty workmanship for a minimum period of one (1) year after Final <br /> Payment and shall be written in an amount equal to one hundred percent (100%) of <br /> the Contract Sum, as adjusted (if at all). <br /> 15.3 Insurance <br /> A. General <br /> 1. The Contractor shall obtain and keep in force during the term of the Contract and until <br /> thirty (30) days after the Completion Date, unless otherwise indicated below, the <br /> following insurance with insurance companies or through sources approved by the <br /> State Insurance Commissioner pursuant to Title 48 RCW. <br /> B. Insurer Rating <br /> 1. The insurance provided must be with an insurance company with a rating of A-:VII or <br /> higher in the A.M. Best's Key Rating Guide, which is licensed to do business in the state <br /> of Washington (or issued as a surplus line by a Washington Surplus lines broker). <br /> 2. The Owner reserves the right to approve the security of the insurance provided, the <br /> company, terms and coverage, and the Certificate of Insurance. <br /> C. Claims Made Form Requirements <br /> 1. If any policy is written on a claims made form, the retroactive date shall be prior to or <br /> coincident with the effective date of this Contract. <br /> 2. The policy shall state that coverage is claims made, and state the retroactive date. <br /> 3. Claims made form coverage shall be maintained by the Contractor for a minimum of <br /> three years following the expiration or earlier termination of this Contract, and the <br /> Contractor shall annually provide the Owner with proof of renewal. <br /> 4. If renewal of the claims made form of coverage becomes unavailable, or economically <br /> prohibitive, the Contractor shall purchase an extended reporting period ("tail") or <br /> execute another form of guarantee acceptable to the Owner to assure financial <br /> responsibility for liability for services performed. <br /> D. Cross Liability Endorsement <br /> 1. The policies of insurance shall contain a "cross liability" endorsement substantially as <br /> follows: <br /> a. The inclusion of more than one insured under this policy shall not affect the rights <br /> of any insured as respects any claim, suit, or judgment made or brought by or for <br /> any other insured or by or for any employee of any other insured. <br /> Replacement of Reservoir 2 General Conditions <br /> WO# UP3658 00 72 13 - 72 <br />