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06/26/12
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06/26/12
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7/18/2025 11:15:47 AM
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6/22/2012 1:49:27 PM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
06/26/2012
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2. Additional:lnsured When Required by Written Construction. Contract — Completed Operations <br />A.. Additional insured - Completed:Operatians <br />VP IS iNSURED is amended::,to inolude as an additional; Insured .anyperson or organization, when you and <br />such person or.orgariization have :agreed .in writing. In a contract or agreement that such person or organization <br />be added es an additional lrisiired on :your policy, but only, with respect to "bodily Injury' or "property damage" <br />caused, in whoreor in:part, by "your work" performedfor that •additional: insured and included in the "products - <br />completed operations hazard": <br />'B. Limitations <br />The:Additional Insured - Completed; Operations coverage is limited es follows: <br />1. A.:personor:organization's status as an insured under Additional Insured - Completed Operations continues <br />only for the;.period of time required. by the written contract" or agreement. if no time period is required by <br />the written contract or agreement, a person or organization's status as an additional insured under this <br />endorsement, will:not apply beyond.the lesser of: <br />a. The period of time required by.the written contract or agreement; or <br />b. Fiveyears from the completion of "your work" on.the project which is the subject of the written* contract <br />or. agreement. <br />2. The. insuran.oe as .provided to the.additional insured does. not apply to "bodily injury", "property damage" or <br />"personal and advertising injury" :arising out of your work" for which a consolidated (wrap -lap) insurance <br />program has been provided by the prime contractor -Project manager or owner of the construction project <br />in which.you are involved. <br />3'. The Limits of Insurance applicable to the additional insured are those specified in the written contract or <br />agreement orrin:the Declarations for this policy, whichever is less. These Limits of Insurance are inclusive <br />and not in addition.to the Limits of Insurance shown in the Declarations. If other insurance:available to you <br />and written: by us *is applicable to this additional insured, the maximum recovery under. all' coverage <br />forms or policies combined may equal but not exceed. the highest applicable limit under• any one <br />coverage form or policy providing coverage on either a'primary or excess basis. <br />4. The coverage provided to the additional insured by this endorsement and by paragraph f. of the definition of <br />"insured contract" under DEFINITIONS do riot apply to "bodily injury" or "property'damage" arising out of <br />the "products -completed operations hazard" unless required by the written contract or agreement. <br />3. Primary and Noncontributory <br />As respects the coverage provided under this endorsement, Paragraph 4.b. of the Other Insurance <br />Condition is deleted and replaced bythe:following: <br />4. Other Insurance <br />b. Excess Insurance <br />This insurance is excess over any other insurance naming the additional insured as an insured whether <br />primary, excess, contingent or on any other basis unless the written contract or agreement described in 1. <br />and 2., .above specifically requires that this insurance be either primary or primary and noncontributory: <br />4. Waiver of Transfer of Rights of Recovery Against Others to Us <br />LIABILITY CONDITIONS; Transfer of Rights of Recovery Against Others to Us,: is amended by adding the <br />following: <br />We waive any right of recovery we may have to recover we make for all or part of any payment we have made <br />under this Coverage Part arising out of "your wore under a written contract or agreement requiring such <br />waiver with that person or organization. However, our rights may only be waived prior to the "occurrence" for <br />. which we make payment. under this Coverage Part, The Insured must do nothing after a loss to impair our <br />rights. At our request, the insured will bring 'suit" or transfer those rights to us and help us enforce those <br />rights. <br />5. Amendment — Aggregate Limits of Insurance (Per Project) <br />ILE1037 <br />0505 <br />Includes copyrighted material of Insurance Services: Office, with' its permission Page 2 of 3 <br />
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