Laserfiche WebLink
to the extent arising out of labor or materials contracted for by City. Nothing contained in this <br /> Agreement shall be construed as the consent or request of City, express or implied, for the <br /> performance of any labor or services or for the furnishing of any materials or equipment to the <br /> Project (or any part thereof). NOTICE IS HEREBY GIVEN THAT CITY WILL NOT BE <br /> LIABLE FOR ANY LABOR, SERVICES, MATERIALS OR EQUIPMENT FURNISHED OR <br /> TO BE FURNISHED TO DEVELOPER, OR ANYONE HOLDING AN INTEREST IN THE <br /> PROPERTY (OR ANY PART THEREOF)THROUGH OR UNDER DEVELOPER. <br /> Section 11. Insurance. The requirements of this Section 11 shall apply only until the <br /> Certificate of Completion is recorded. <br /> 11.1 Insurance Requirements. Developer shall maintain and keep in force insurance <br /> covering all aspects of the construction activity on the Project, including but not limitedto the <br /> following requirements or, in the alternative, maintain such insurance as required by a <br /> Mortgagee. <br /> 11.1.1 Builders All Risk Comprehensive Coverage. Developer shall keep, or <br /> shall require its general contractor to keep, all Project components insured for Builders All Risk <br /> Comprehensive Coverage including fire and flood in an amount not less than 100% of the then <br /> full "Replacement Cost," being the cost of replacing the Project components, and all fixtures, <br /> equipment, improvements and betterments thereto. <br /> 11.1.2 Commercial General Liability. Developer shall carry, and shall require its <br /> construction contractor to carry, Commercial General Liability insurance providing coverage <br /> against claims for bodily injury, death or property damage in connection with the Project with <br /> broad form liability and property damage endorsement, such insurance to afford minimum <br /> protection, during the term of the construction phase, and written for combined single limits of <br /> liability of Two Million Dollars ($2,000,000), per occurrence, said amount to be adjusted from <br /> time to time with coverage deemed customary under like conditions. <br /> 11.1.3 Property Insurance. Upon completion of the construction of the Project <br /> and until the Certificate of Completion is recorded, Developer shall carry property insurance <br /> covering the Project including all Improvements, including boiler and machinery insurance, in an <br /> amount equal to at least one hundred percent (100%) of the replacement cost of all <br /> Improvements. <br /> 11.2 Insurance Policies. Insurance policies required herein: <br /> 11.2.1 Shall be issued by companies authorized to do business in the State of <br /> Washington, which are rated at least "A" or better and with a numerical rating of no less than <br /> seven (7)by A.M. Best Company,with the following qualifications: <br /> 11.2.1.1 The policies shall name the City as an additional insured for <br /> liability purposes and as a loss payee. <br /> 11.2.1.2 The policies shall be issued as primary policies. <br /> -15- <br /> 51083924.1 <br />