05.02 - HRA West Grove Townhome Refunding

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� � ARTICLE IV Insurance; PILOT Section 4.1. Insurance. (a) The City HRA will provide and maintain at all times during the construction of the.Project an All Risk Broad Form Basis Insurance Policy and, from tirne to time during that period, at the request of the County HRA or the County, furnish the County HRA or the County with proof of payment of premiums on policies covering the following: (i) Builder's risk insurance, written on the so-called "Builder's Risk -- Completed Value Basis," in an amount equal to one hundred percent (100%) of the insurable value of the Project at the date of completion, and with coverage available in nonreporting form on the so-called "all risk" form of policy. The interest of the County HRA and the County shall be protected in accordance with a clause in form and content satisfactory to the County HRA and the County; (ii) Comprehensive general liability insurance (including operations, contingent liability, operations of subcontractors, completed operations and contractual liability insurance) together with an Owner's Contractor's Policy with limits against bodily injury and property damage of not less than $1,000,000 for each occurrence (to accomplish the above-required limits, an umbrella excess liability policy may be used); and � (iii) Workers' compensation insurance, with statutory coverage. (b) Upon completion of construction of the Proj�ct and while the Bonds remain outstanding, the City HRA shall maintain, or cause to be maintained, at its cost and expense, and from time to time at the request of the County HRA or the County shall furnish proof of the payment of premiums on, insurance as follows: ,(i) Insuran�e against loss and/or damage to the Project under a policy or policies covering such risks as are ordinarily insured against by siinilar businesses; � (ii) Comprehensive general public liability insurance, including personal injury liability (with employee exclusion deleted), against liability for injuries to persons and/or property, in the minimum amount for each occurrence and for each year of $1,000,000, and shall be endorsed to show the County HR.A and the County as additional insureds; and , _ (iii) Such other insurance, including workers' compensation insurance respecting all employees of the City HRA, in such amount as is customarily camed by like organizations engaged in like activities of comparable size and liability exposure; provided that the City HR.A may, if permitted by law, be self-insured with respect to all or any part of its liability for workers' compensation . - EMT-238666v5 CR195-4 10