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equivalent policy form, including builder's risk, in the amount of the initial Contract Sum, plus the value of
<br /> subsequent modifications and cost of materials supplied and installed by others, comprising total value for the entire
<br /> Project at the site on a replacement cost basis without optional deductibles. Such property insurance shall be
<br /> maintained, unless otherwise provided in the Contract Documents or otherwise agreed in writing by all persons and
<br /> entities who are beneficiaries of such insurance, until final payment has been made as provided in Section 15.5 or
<br /> until no person or entity other than the Owner has an insurable interest in the property required by this Section
<br /> 17.3.1 to be covered, whichever is later. This insurance shall include interests of the Owner, the Contractor,
<br /> Subcontractors and sub - subcontractors in the Project.
<br /> § 17.3.2 The Owner shall file a copy of each policy with the Contractor before an exposure to loss may occur. Each
<br /> policy shall contain a provision that the policy will not be canceled or allowed to expire, and that its limits will not
<br /> be reduced, until at least 30 days' prior written notice has been given to the Contractor.
<br /> § 17.3.3 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) the Architect, Architect's consultants, separate
<br /> contractors described in Article 12, if any, and any of their subcontractors, sub - subcontractors, agents and
<br /> employees for damages caused by fire or other causes of loss to the extent covered by property insurance obtained
<br /> pursuant to Section 17.3 or other property insurance applicable to the Work, except such rights as they have to
<br /> proceeds of such insurance held by the Owner as fiduciary. The Owner or Contractor, as appropriate, shall require of
<br /> the Architect, Architect's consultants, separate contractors described in Article 12, if any, and the subcontractors,
<br /> sub - subcontractors, agents and employees of any of them, by appropriate agreements, written where legally required
<br /> for validity, similar waivers each in favor of other parties enumerated herein. The policies shall provide such
<br /> waivers of subrogation by endorsement or otherwise. A waiver of subrogation shall be effective as to a person or
<br /> entity even though that person or entity would otherwise have a duty of indemnification, contractual or otherwise,
<br /> did not pay the insurance premium directly or indirectly, and whether or not the person or entity had an insurable
<br /> interest in the property damaged.
<br /> § 17.3.4 A loss insured under the Owner's property insurance shall be adjusted by the Owner as fiduciary and made
<br /> payable to the Owner as fiduciary for the insureds, as their interests may appear, subject to requirements of any
<br /> applicable mortgagee clause. The Contractor shall pay Subcontractors their just shares of insurance proceeds
<br /> received by the Contractor, and by appropriate agreements, written where legally required for validity, shall require
<br /> Subcontractors to make payments to their sub - subcontractors in similar manner.
<br /> § 17.4 PERFORMANCE BOND AND PAYMENT BOND
<br /> Intentionally Omitted
<br /> (Paragraphs deleted)
<br /> ARTICLE 18 CORRECTION OF WORK
<br /> § 18.1 The Contractor shall promptly correct Work rejected by the Architect or failing to conform to the
<br /> requirements of the Contract Documents, whether discovered before or after Substantial Completion and whether or
<br /> not fabricated, installed or completed. Costs of correcting such rejected Work, including additional testing and
<br /> inspections, the cost of uncovering and replacement, and compensation for the Architect's services and expenses
<br /> made necessary thereby, shall be at the Contractor's expense, unless compensable under Section A.2.7.3 in Exhibit
<br /> A, Determination of the Cost of the Work.
<br /> § 18.2 In addition to the Contractor's obligations under Section 9.4, if, within one year after the date of Substantial
<br /> Completion of the Work or designated portion thereof or after the date for commencement of warranties established
<br /> under Section 15.4.3, or by terms of an applicable special warranty required by the Contract Documents, any of the
<br /> Work is found to be not in accordance with the requirements of the Contract Documents, the Contractor shall correct
<br /> it promptly after receipt of written notice from the Owner to do so unless the Owner has previously given the
<br /> Contractor a written acceptance of such condition. The Owner shall give such notice promptly after discovery of the
<br /> condition. During the one -year period for correction of Work, if the Owner fails to notify the Contractor and give the
<br /> Contractor an opportunity to make the correction, the Owner waives the rights to require correction by the
<br /> Contractor and to make a claim for breach of warranty.
<br /> § 18.3 If the Contractor fails to correct nonconforming Work within a reasonable time, the Owner may correct it in
<br /> accordance with Section 8.3.
<br /> AIA Document A107' — 2007. Copyright ©1936, 1951, 1958, 1961, 1963, 1966, 1970, 1974, 1978, 1987, 1997 and 2007 by The American Institute of
<br /> Init. Architects. All rights reserved. WARNING: This AIA Document Is protected by U.S. Copyright Law and International Treaties. Unauthorized 15
<br /> reproduction or distribution of this AIA Document, or any portion of It, may result In severe civil and criminal penalties, and will be prosecuted to the
<br /> maximum extent possible under the law. This document was produced by AIA software at 13:11:21 on 09/15/2009 under Order No.8649255540_1 which
<br /> expires on 09/30/2010, and is not for resale.
<br /> User Notes: (1093954413)
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