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payment property insurance is to be provided on the completed Project through a policy or policies other than those
<br />inJuring ihe troject during the construction period, the Owner shall waive all rights in accordance with the terms of
<br />Section 1 I .3.7 for damages caused by fire or other causes of loss covered by this separate property insurance' All
<br />separate policies shall provide this waiver of subrogation by endorsement or otherwise.
<br />$ 1 1.3.6 Before an exposure to loss may occur, the Owner shall file with the Contractor a copy of each policy that
<br />includes insurance coverages required by this Section I 1.3. Each policy shall contain all generally applicable
<br />conditions, definitions, exclusions and endorsements related to this Project. Each policy shall contain a provision
<br />that the policy will not be canceled or allowed to expire, and that its limits will not be reduced, until at least 30 days'
<br />prior written notice has been given to the Contractor.
<br />$ 11.3.7WA|VERS 0F SUBRoGATION
<br />ihe O*ner and Contractor waive all rights against (l) 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 6, if any, and any of their subcontractors, sub-subcontractors, agents and employees,
<br />for damages caused by fire or other causes ofloss to the extent covered by property insurance obtained pursuant to
<br />this Section I 1.3 or other property insurance applicable to the Work, except such rights as they have to proceeds of
<br />such insurance held by the Owner as fiduciary. The Owner or Contractor, as appropriate, shall require of the
<br />Architect, Architect's consultants, separate contractors described in Article 6, if any, and the subcontractors, sub-
<br />subcontractors, agents and employees of any of them, by appropriate agreements, written where legally required for
<br />validity, similar waivers each in favor of other parties enumerated herein. The policies shall provide such waivers of
<br />subrogation by endorsement or otherwise. A waiver of subrogation shall be effective as to a person or entity even
<br />though that person or entity would otherwise have a duty of indemnification, contractual or otherwise, did not pay
<br />the insuranci premium directly or indirectly, and whether or not the person or entity had an insurable interest in the
<br />property damaged.
<br />$ 11.3.S 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 and of Section I 1.3.10. The Contractor shall pay Subcontractors their just shares of
<br />insurance proceeds received by the Conhactor, and by appropriate agreements, written where legally required for
<br />validity, shall require Subconhactors to make payments to their Sub-subcontractors in similar manner.
<br />S 1 1.3.9 If required in writing by a parfy in interest, the Owner as fiduciary shall, upon occurrence of an insured loss,
<br />give bond for proper performance of the Owner's duties. The cost of required bonds shall be charged against
<br />proceeds received as fiduciary. The Owner shall deposit in a separate account proceeds so received, which the
<br />b*n". shall distribute in accordance with such agreement as the parties in interest may reach, or as determined in
<br />accordance with the method of binding dispute resolution selected in the Agreement between the Owner and
<br />Conhactor. If after such loss no other special agreement is made and unless the Owner terminates the Conhact for
<br />convenience, replacement of damaged property shall be performed by the Contractor after notification of a Change
<br />in the Work in accordance with Article 7.
<br />S 11.3.10 The Owner as fiduciary shall have power to adjust and settle a loss with insurers unless one of the parties
<br />in interest shall object in writing within five days after occurrence of loss to the Owner's exercise of this power; if
<br />such objection is made, the dispute shall be resolved in the manner selected by the Owner and Contractor as the
<br />method of binding dispute resolution in the Agreement. If the Owner and Contractor have selected arbitration as the
<br />method of binding dispute resolution, the Owner as fiduciary shall make settlement with insurers or, in the case of a
<br />dispute over distribution of insurance proceeds, in accordance with the directions of the arbitrators.
<br />$ 11.4 PERFORMANCE BOND AND PAYMENT BOND
<br />5 tt.n.t The Owner shall have the right to require the Contractor to furnish bonds covering faithful performance of
<br />the Contract and payment of obligations arising thereunder as stipulated in bidding requirements or specifically
<br />required in the Contract Documents on the date of execution of the Contract.
<br />$ 1 1 .4.2 Upon the request of any person or entify appearing to be a potential beneficiary of bonds covering payment
<br />of obligations arising under the Contract, the Contractor shall promptly furnish a copy of the bonds or shall
<br />authorize a copy to be fumished.
<br />AIA Document A2OI - zOO't. Copyright O 1911, 1915, IgI8, 1925, Ig3'1, lgSI' 1958, 1961, 1963, 1966' l9'70, I916, 198?, 19
<br />rights reserved. "The emerican I;stitute of Architects," "American Institute of Alchitects," "AIA," the AIA Loqo, and
<br />Documents,, are tradenarks of lhe American InstituLe of Architects. this draft was produced at 09:51:3? P"l on 05/L3/202
<br />bto.4104243047 which expires on 06/10/2024, is not for resale. is licensed fox one-tine use only, and may only be used
<br />the AIA Contract Docunents€ Terms of Setvice, To report copyright violaeions, e-mail docinfooaiacontracts.com.
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