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the insurance coverage for Engineer or its Consultants; all such notice shall be issued in accordance with <br />Article 12 of the General Terms and Conditions. <br />4.2.3 Financial Strength: The insurance coverage required of Contractor and any Subcontractor shall <br />be placed and maintained until Final Completion with insurance companies rated at least A-, Financial Size <br />Category of at least VIII, by A.M. Best Company, licensed to do business in Ohio, and where commercially <br />feasible, admitted to do business in Ohio. <br />4.2.4 Subcontractor Insurance: Contractor shall not sublet or subcontract any part of this Contract <br />without assuming absolute responsibility for requiring and taking actions to know that each of its <br />Subcontractors purchase and maintain the types of insurance required hereby with the same terms and <br />conditions as herein required of the Contractor and the limits of liability herein required of Subcontractors. <br />Failure of Engineer or any of its Engineering Consultant to purchase and maintain insurance for a minimum <br />of five (5) years after Final Completion shall be deemed a material breach of this Contract, allowing the <br />Owner, in addition to all other remedies available to Owner under the Contract, at law and/or in equity, to <br />terminate this Contract or to provide insurance at the Engineer's sole expense, in neither case, however, <br />shall the Engineer's liability hereunder be lessened. <br />4.2.5 Notice of Occurrence: Upon Contractor's knowledge of any actual or alleged occurrence, event, <br />or third-party claim(s) which may result in or give rise to a claim against liability imposed upon, or loss <br />suffered by Engineer or any of its Subcontractors which may exceed One Million Dollars ($1,000,000), <br />Engineer shall (i) immediately provide the Owner with written notice of such occurrence, event or third- <br />party claim(s) with reasonable detail; this requirement applies irrespective of when, where, or how the <br />claim, liability, or loss occurred, whether or not the claim, liability or loss relates to or arises from the <br />Contractor's Services, or the validity or status of such claim, liability or loss, and applies to the entire <br />Contract term and the five years following Final Completion; all such notice shall be issued in accordance <br />with Article 12 of the General Terms and Conditions. <br />4.2.6 Deductibles: Contractor and its Subcontractors shall be responsible for the payment of any and <br />all deductible(s) or retention(s) under the policy or policies of insurance purchased and maintained by each <br />pursuant to this Contract; the deductibles and self-insured retentions existing in the policies required herein <br />must be stated on the certificates of insurance required by this Contract. <br />4.2.7 Evidence of Insurance: Contractor shall submit to the Owner within ten (10) Calendar Days <br />after Owner's notice of Contract award, certificates of insurance evidencing the effectiveness of the <br />insurance policies required by this Contract, along with original copies of the policies and all endorsements <br />to any such policies. The Project Site shall be identified on the certificate(s) and shall be delivered <br />pursuant to Article 12 of the General Terms and Conditions. <br />At any time during the term of this Contract and annually (measured from the Date of Commencement) for <br />a period of five (5) years following Final Completion, the Engineer shall promptly provide certificates of <br />insurance to the Owner evidencing the effectiveness of the insurance coverages required pursuant to this <br />Contract along with original copies of the complete policies, including all endorsements no less frequently <br />than upon the renewal of any insurance coverage required by this Contract. <br />All endorsements to or modifications of insurance purchased and maintained by the Contractar and its <br />Subcontractors pursuant to this Contract shall be subject to Owner's review and final acceptance. Owner's <br />review, receipt and/or acceptance of any insurance policy purchased and maintained by the Contractor and <br />its Subcontractors, or a certificate of insurance evidencing such insurance, shall not constitute nor be <br />deemed to constitute Owner's approval of such insurance or Owner's agreement that such insurance <br />satisfies the insurance requirements set forth in this Contract. <br />4.2.8 Compliance: If any insurance purchased and maintained by the Contractor and its Subcontractors <br />pursuant to this Contract contains a warranty or other clause providing that coverage is null and void (or <br />words to that effect), or otherwise reduced in scope or limit if the Contractor and its Subcontractors does <br />not comply with the regulations or statutes governing the Project, such policy or policies shall be modified <br />or endorsed so that coverage shall be afforded in all cases except for the Contractor and its Subcontractors <br />intentional or wil(ful non-compliance with Applicable Laws.