KLB CONSTRUCTION INC. 6/23/2010 - Laserfiche WebLink

1 option: (a) immediately terminate the Contract; (b) procure or renew such insurance and pay any and all ' premiums in connection therewith, with any sums so expended to be repaid to the Owner on demand, or, at the sole discretion of the Owner, offset against funds due the Contractor from the Owner; (c)withhold progress payments(in whole or in part); and (d) avail itself of any other remedy at law, in equity, or �. allowed by Contract. These remedies are cumulative and not exclusive. The Contractor hereby appoints the Owner its true and lawful attorney, to do the things necessary for the purpose of procuring or renewing insurance as provided herein. Failure of the Owner to obtain such insurance shall in no way relieve the Contractor of its responsibilities under this Contract. 15.3.12 Cancellation The Owner shall be given at least forty-five(45)days prior written Notice of any cancellation, non- renewal, or other material change in any insurance policy. Owner acknowledges that the Contractor's Worker's Compensation/Employer's Liability insurance cannot be endorsed or amended to provide the Owner with prior Notice of material changes. 15.3.13 Evidence of Insurance The Contractor shall deliver the executed Contract for the work to the Owner together with a Certificate(s) of Insurance and endorsements for each policy of insurance meeting the requirements set forth above. The certificate must conform to the following requirements: 1. An ACORD certificate Form 25-S, or equivalent, showing the insuring company, policy effective dates, limits of liability and the Schedule of Forms and Endorsements. 2. A copy of either: (a)the endorsement naming Owner and any other entities required by the Special Provisions as Additional Insured(s), and stating that coverage is primary and non- contributory, showing the policy number, and signed by an authorized representative of the insurance company on Form CG2010 (ISO) or equivalent; or(b)the blanket additional insured policy provision. 3. A copy of an endorsement stating that the coverage provided by this policy to the Owner or any other named insured shall not be canceled, not renewed or materially changed without providing at least forty-five (45) days prior written Notice to the Owner. 4. The certificate(s) shall not contain the following or similar wording regarding cancellation notification to the Owner: "Failure to mail such Notice shall impose no obligation or liability of any kind upon the company." I 5. The certificate(s)shall not contain the phrase"endeavor to", or any substantially similar phrase, regarding issuance of written Notice of cancellation of the policies prior to their expiration dates. Within ten (10)days upon Owner's written request, the Contractor shall deliver to the Owner certified I copies of all policies of insurance and the receipts for payment of premiums thereon. The Owner acknowledges that Contractor may pay its premium on a monthly basis, and may not be able to provide complete evidence of payment of premiums until the final premium is paid. 15.3.14 Coverages and Limits The insurance shall provide the minimum coverages and limits set forth below. Owner does not warrant or represent that such coverages and limits are appropriate or adequate to protect the Contractor. Providing coverage in these stated minimum limits shall not be construed to relieve the Contractor from liability in excess of such limits. All deductibles must be disclosed and are subject to approval by the Owner. The cost of any claim payments falling within the deductible shall be the sole responsibility of the Contractor. 15.3.14.1 CGL A policy of Commercial General Liability Insurance, written on an insurance industry standard occurrence 111 form: (CG 00 01)or equivalent, including all the usual coverage known as: EVERETT RIVERFRONT SURCHARGE GENERAL CONDITIONS i PHASE 3 00710-50