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$ A.2.3 Required Property lnsurance
<br />S A.2.3.1 Unless this obligation is placed on the Contractor pursuant to Section A.3.3.2.1, the Owner shall purchase and
<br />maintain, from an insurance company or insurance companies lawfully authorized to issue insurance in the jurisdiction
<br />where the Project is located, property insurance written on a builder's risk "all-risks" completed value or equivalent
<br />policy form and sufficient to cover the total value of the entire Project on a replacement cost basis. The Owner's
<br />property insurance coverage shall be no less than the amount of the initial Contract Sum, plus the value of subsequent
<br />Modifications and labor ltcrlbntrc'cl ancl materials or ccluiprtte nt supplied by others The properly insurance shall be
<br />maintained until Substantial Completion and thereafter as provided in Section A.2.3.1.3, unless otherwise provided in
<br />the Contract Documents or otherwise agreed in writing by the parties to this Agreement. This insurance shall include the
<br />interests ofthe Owner, Contractor, Subcontractors, and Sub-subcontractors in the Project as insureds. This insurance
<br />shall include the interests of mortgagees as loss payees.
<br />S A.2.3.1.1 Causes of Loss. The insurance required by this Section A.2.3.1 shall provide coverage for direct physical loss
<br />or damage, and shall not exclude the risks of fire, explosion, theft, vandalism, malicious mischief, collapse, earthquake,
<br />flood, or windstorm. The insurance shall also provide coverage for ensuing loss or resulting damage from error,
<br />omission, or deficiency in construction methods, design, specifications, workmanship, or materials.
<br />S 4.2,3.1.2 Specific Required Coverages. The insurance required by this Section A.2.3.1 shall provide coverage for loss
<br />or damage to falsework and other temporary structures, and to building systems from testing and startup. The insurance
<br />shall also cover debris removal, including demolition occasioned by enforcement of any applicable legal requirements,
<br />and reasonable compensation for the Architect's and Contractor's services and expenses required as a result ofsuch
<br />insured loss, including claim preparation expenses.
<br />S A.2.3,1.3 Unless the parties agree otherwise, upon Substantial Completion, the Owner shall continue the insurance
<br />requiredbySection A.2.3.1 or,ifnecessary,replacetheinsurancepolicyrequiredunderSection A.2.3.1withproperty
<br />insurance written for the total value ofthe Project that shall remain in effect until expiration ofthe period for correction
<br />of the Work set forth in Section 12.2.2 of the General Conditions.
<br />S A.2.3.1.4 Deductibles and Self-lnsured Retentions. If the insurance required by this Section A.2.3 is subject to
<br />deductibles or self-insured retentions, the Owner shall be responsible for all loss not covered because ofsuch
<br />deductibles or retentions.
<br />$ A,2.3.2 Occupancy or Use Prior to Substantial Completion, The Owner's occupancy or use of any completed or partially
<br />completed portion of the Work prior to Substantial Completion shall not commence until the insurance company or
<br />companies providing the insurance under Section A.2.3 .l have consented in writing to the continuance of coverage. The
<br />Owner and the Contractor shall take no action with respect to partial occupancy or use that would cause cancellation,
<br />lapse, or reduction of insurance, unless they agree otherwise in writing.
<br />S 4.2.3.3 lnsurance for Existing Structures
<br />If the Work involves remodeling an existing structure or constructing an addition to an existing structure, the Owner
<br />shall purchase and maintain, until the expiration of the period for correction of Work as set forth in Section 12.2.2 of lhe
<br />General Conditions, "all-risks" property insurance, on a replacement cost basis, protecting the existing structure against
<br />direct physical loss or damage from the causes of loss identified in Section A.2.3.1, notwithstanding the undertaking of
<br />the Work. The Owner shall be responsible for all co-insurance penalties.
<br />$ A.2.4 Optional Extended Property lnsurance. Not Required
<br />$ A.2.5 Other Optional lnsurance. Not Required.
<br />ARTICLE A,3 CONTRACTOR'S INSURANCE AND BONDS
<br />$ A.3.1 General
<br />$ A.3,1.1 Certificates of lnsurance. The Contractor shall provide certificates of insurance acceptable to the Owner
<br />evidencing compliance with the requirements in this Article A.3 at the following times: (l) prior to commencement of
<br />the Work; (2) upon renewal or replacement of each required policy of insurance; and (3) upon the Owner's written
<br />request. An additional certificate evidencing continuation of commercial liability coverage, including coverage for
<br />completed operations, shall be submitted with the final Application for Payment and thereafter upon renewal or
<br />replacement of such coverage untitrffrgraxpiration of the periods required by Seotigns.S&r?e8 and Seotion id,3,3,1,r The
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