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E. If Contractor requests in writing that other
<br />special insurance be included in the property
<br />insurance policies provided under Paragraph
<br />5.06, Owner shall, if possible, include such
<br />insurance, and the cost thereof will be charged
<br />to Contractor by appropriate Change Order.
<br />Prior to commencement of the Work at the
<br />Site, Owner shall in writing advise Contractor
<br />whether or not such other insurance has been
<br />procured by Owner.
<br />5.07 Waiver of Rights
<br />A. Owner and Contractor intend that all policies
<br />purchased in accordance with Paragraph 5.06
<br />will protect Owner, Contractor,
<br />Subcontractors, and Engineer, and all other
<br />individuals or entities identified in the
<br />Supplementary Conditions to be listed as
<br />insureds or additional insureds (and the
<br />officers, directors, partners, employees,
<br />agents, consultants and subcontractors of each
<br />and any of them) in such policies and will
<br />provide primary coverage for all losses and
<br />damages caused by the perils or causes of loss
<br />covered thereby. All such policies shall
<br />contain provisions to the effect that in the
<br />event of payment of any loss or damage the
<br />insurers will have no rights of recovery
<br />against any of the insureds or additional
<br />insureds thereunder. Owner and Contractor
<br />waive all rights against each other and their
<br />respective officers, directors, partners,
<br />employees, agents, consultants and
<br />subcontractors of each and any of them for all
<br />losses and damages caused by, arising out of
<br />or resulting from any of the perils or causes of
<br />loss covered by such policies and any other
<br />property insurance applicable to the Work;
<br />and, in addition, waive all such rights against
<br />Subcontractors, and Engineer, and all other
<br />individuals or entities identified in the
<br />Supplementary Conditions to be listed as
<br />insured or additional insured (and the officers,
<br />directors, partners, employees, agents,
<br />consultants and subcontractors of each and
<br />any of them) under such policies for losses
<br />and damages so caused. None of the above
<br />waivers shall extend to the rights that any
<br />party making such waiver may have to the
<br />proceeds of insurance held by Owner as
<br />trustee or otherwise payable under any policy
<br />so issued.
<br />B. Owner waives all rights against Contractor,
<br />Subcontractors, and Engineer, and the
<br />officers, directors, partners, employees,
<br />agents, consultants and subcontractors of each
<br />and any of them for:
<br />1. loss due to business interruption, loss of
<br />use, or other consequential loss extending
<br />beyond direct physical loss or damage to
<br />Owner's property or the Work caused by,
<br />arising out of, or resulting from fire or
<br />other perils whether or not insured by
<br />Owner; and
<br />2. loss or damage to the completed Project
<br />or part thereof caused by, arising out of,
<br />or resulting from fire or other insured
<br />peril or cause of loss covered by any
<br />property insurance maintained on the
<br />completed Project or part thereof by
<br />Owner during partial utilization pursuant
<br />to Paragraph 14.05, after Substantial
<br />Completion pursuant to Paragraph 14.04,
<br />or after final payment pursuant to
<br />Paragraph 14.07.
<br />C. Any insurance policy maintained by Owner
<br />covering any loss, damage or consequential
<br />loss referred to in Paragraph 5.07.B shall
<br />contain provisions to the effect that in the
<br />event of payment of any such loss, damage, or
<br />consequential loss, the insurers will have no
<br />rights of recovery against Contractor,
<br />Subcontractors, or Engineer, and the officers,
<br />directors, partners, employees, agents,
<br />consultants and subcontractors of each and
<br />any of them.
<br />5.08 Receipt and Application of Insurance Proceeds
<br />A. Any insured loss under the policies of
<br />insurance required by Paragraph 5.06 will be
<br />adjusted with Owner and made payable to
<br />Owner as fiduciary for the insureds, as their
<br />interests may appear, subject to the
<br />requirements of any applicable mortgage
<br />clause and of Paragraph 5.08.B. Owner shall
<br />deposit in a separate account any money so
<br />received and shall distribute it in accordance
<br />with such agreement as the parties in interest
<br />may reach. If no other special agreement is
<br />reached, the damaged Work shall be repaired
<br />or replaced, the moneys so received applied
<br />on account thereof, and the Work and the cost
<br />Standard General Conditions
<br />00 72 00-16
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