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ARTICLE V <br /> INSURANCE AND CONDEMNATION <br /> Section 5 1 Insurance During Construction <br /> (a) The Developer will provide and maintain, at its expense, at all times during the <br /> process of construction of the Minimum Improvements, an All Risk Broad Form <br /> Basis Insurance Policy and, from time to time during that period, at the request of <br /> the City, furnish the City with proof of payment of premiums on policies covering <br /> the following <br /> (1) Builder's risk insurance, written on the so-called `Builder's Risk -- <br /> Completed Value Basis," in an amount equal to one hundred percent <br /> (100%) of the insurable value of the Minimum Improvements at the date <br /> of completion, and with coverage available in non-reporting form on the <br /> so-called "all risk" form of policy The interest of the City shall be <br /> protected in accordance with a clause in form and content satisfactory to <br /> the City <br /> (ii) Comprehensive general liability insurance (including operations, <br /> contingent liability, operations of subcontractors, completed operations <br /> and contractual liability insurance) together with an Owner's/Contractor's <br /> Policy with limits against bodily injury and property damage of not less <br /> than $1,000,000 for each occurrence (To accomplish the above-required <br /> limits, an umbrella excess liability policy may be used) <br /> (iii) Workeis' compensation-insurance, with statutory coverage <br /> i <br /> Section 5 2 Insuiance After Completion <br /> (a) Upon completion of the construction of the Minimum Improvements and prior to <br /> the Maturity Date, the Developer shall maintain, or cause to be maintained, at its <br /> cost and expense, and from time to time, at the request of the City, shall furnish <br /> proof of the payment of premiums on insurance as follows <br /> (1) Insurance against loss and/or damage to the Minimum Improvements <br /> under a policy or policies covering fire and such other risks as are <br /> ordinarily insured against by similar businesses under policies of casualty <br /> insurance <br /> (11) Comprehensive general public liability insurance, including personal <br /> injury liability (with employee exclusion deleted), against liability for <br /> injuries to persons, property, or both, in, on of about the Development <br /> Property in the minimum amount for each occurrence and for each year, of <br /> $ 1,000,000, and shall be endorsed to show the City as additional insured <br /> 15 <br />