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Section 17.2.2.1 with property insurance written for the total value of the Project that shall remain in effect until
<br />expiration of the period for correction of the Work set forth in Section 18.4.
<br />§ 17.213Ifthe insurance required by this Section 17.2.2 is subject to deductibles or self-insured retentions, the Owner
<br />shall be responsible for all loss not covered because of such deductibles or retentions.
<br />§ 171.2.4 If the Work involves Work installed in an existing structure or constructing an addition to an existing
<br />structure, the Owner shall purchase and maintain, until the expiration of the period for correction of Work as set forth
<br />in Section 18.4, Owner's Property Insurance on the basis "all-risks" property insurance, on a replacement cost basis,
<br />protecting the existing structures against direct physical loss or damage, notwithstanding the undertaking of the Work.
<br />The Owner shall be responsible for all co-insurance penalties.
<br />§ 171.25 Prior to commencement of the Work, Contractor shall secure the Builder's Risk Insurance and the Owner
<br />shall secure Owner's Property Insurance, and each shall provide evidence of the coverage, required under this Section
<br />17.2.2 and, upon the Contractor's request, provide a copy of the Owner's Property Insurance policy or policies required
<br />by this Section 17.2.2. The copy of the policy or policies provided shall contain all applicable conditions, definitions,
<br />exclusions, and endorsements.
<br />§ 17.2.2.6 Within three (3) business days of the date the Owner becomes aware of an impending or actual cancellation
<br />or expiration of any insurance required by this Section 17.2.2, the Owner shall provide notice to the Contractor of
<br />such impending or actual cancellation or expiration. Unless the lapse in coverage arises from an act or omission of the
<br />Contractor: (I ) the Contractor, upon receipt of notice from the Owner, shall have the right to stop the Work until the
<br />lapse in coverage has been cured by the procurement of replacement coverage by either the Owner or the Contractor;
<br />(2) the Contract Time and Contract Sum shall be equitably adjusted; and (3) the Owner waives all rights against the
<br />Contractor, Subcontractors, and Sub -subcontractors to the extent any loss m the Owner would have been covered by
<br />the insurance had it not expired or been cancelled. If the Contractor purchases replacement coverage, the cost of the
<br />insurance shall be charged to the Owner by an appropriate Change Order. The furnishing of notice by the Owner shall
<br />not relieve the Owner of any contractual obligation to provide required insurance.
<br />§ 17.2.2.7 Waiver of Subrogation
<br />§ 171.2.7.1 The Owner and Contractor waive all rights against (1) each other and any of their subcontractors, sub -
<br />subcontractors, agents, and employees, each of the other; and (2) Owner's Separate Contractors, if any, and any of
<br />their subcontractors, sub -subcontractors, agents, and employees, for damages caused by fire, or other causes of loss,
<br />W the extent those losses are covered by Builder's Risk Insurance or Owner's Property Insurance required by this
<br />Agreement or other property insurance applicable to the Project, except such rights as they have to proceeds of such
<br />insurance. The Owner or Contractor, as appropriate, shall require similar written waivers in favor of the individuals
<br />and entities identified above from the Owner's Separate Contractors, subcontractors, and sub -subcontractors. The
<br />policies of insurance purchased and maintained by each person or entity agreeing to waive claims pursuant m this
<br />Section 17.2.2.7 shall not prohibit this waiver of subrogation. This waiver of subrogation shall be effective as to a
<br />person or entity(]) even though that person or entity would otherwise have a duty of indemnification, contractual or
<br />otherwise, (2) even through that person or entity did not pay the insurance premium directly or indirectly, or (3) whether
<br />Or not the person or entity had an insurable interest in the damaged property.
<br />§ 171.2.7.2 The Owner waives all rights in accordance with the terms of Section 17.2.2.7.1 for damages caused by
<br />fire or other causes of loss covered by Owner's Property Insurance.
<br />§ 171.2.8 A loss insured under the Builder's Risk insurance shall be adjusted by Contractor, and under Owner's
<br />Property Insurance shall be adjusted by the Owner as fiduciary and made payable to the Owner and Contractogjointly,
<br />for the insureds, as their interests may appear, subject to requirements ofany applicable mortgagee clause. The Owner
<br />shall pay the Contractor its just shares of insurance proceeds received by the Owner, and by appropriate agreements,
<br />written where legally required for validity, Contractor shall make payments to its consultants and Subcontractors in
<br />similar manner.
<br />§ 17.23 Other Insurance Provided by the Owner
<br />Coverage Limits
<br />Boiler& Machinery Insurance Value of Purchased Equipment
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