Project Packet - Laserfiche WebLink

Home Browse Search

.ft ment or relocation of such reference points by professionally qualified personnel. ARTICLE 5—BONDS AND INSURANCE Performance and Other Bonds: 5.1. CONTRACTOR shall furnish performance and pay- ment Bonds, each in an amount at least equal to the Contract Price as security for the faithful performance and payment of all CONTRACTOR's obligations under the Contract Docu- ments. These Bonds shall remain in effect at least unrl one year after the date of final payment, except as otherwise pro- vided by law. CONTRACTOR shall also furnish such other Bonds as are required by the Supplementary Conditions. All Bonds shall be in the forms prescribed by the bidding docu- ments or Supplementary Conditions and be executed by such Sureties as lil are licensed to conduct business in the state where the Project is located, and Iii) are named in the current list of "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies" as published in Circular 570 Iamendedl by the Audit Staff Bureau of Accounts, U.S Treasury Department All Bonds signed by an agent must be accompanied by a certified copy of the authority to act. 5.2. If the Surety on any Bond furnisheu by CONTRAC- TOR is declared a bankrupt or be,.omes insolvent or its right to do business is terminated in any state where any part of the Project is located or it ceases to meet the requirements of clauses W and fill of paragraph 5.1. CONTRACTOR shall within five days thereafter substitute another Bond and Surety, both of which shall be acceptable to OWNER. Contractor's Liobilfry Insurance: 5.3. CONTRACTOR shall purchase and maintain such comprehensive general liability and other insurance as will provide protection from claims set forth below which may arise out of or result from CONTRACTOR's performance of the Work and CONTRACTOR's other obligations ,•nv'ler the Contraci Documents, whether such performance r by TRACTOR, by any Subcontractor, by anyone Otecily jr is - directly employed by any of them. or by anyone for whose acts any of them may be liab,-: 5.3.1. Claims under workers' or workmen's compen- sation. disability benefits and other similar employee benefit acts: Claims for damages because of bodily injury o• nal sickness or disease, of death of T ,Ioyees: laims for damages hecause of bodily injury. ucknem o. disease, or deain of any person other than CONTRACTOR's employees: 5.3.4 Claims for damages insured by persona injury liabdity coverage which are sustained iii by any person as a a result of an offense directly or indirectly W-sted to the employment of such person by CONTRACTOR, or 60 by any other person for any other reason: 5.3.5. Claims for damages, other than to the Work it- self, because of injury to or destruction of tangible prop- erty, including loss of use resulting therefrom: and 5.3.6. Claims for damages because of bodily injury or death of any person or property damage arising out of the ownership, maintenance or use of any motor vehicle. The insurance required by this paragraph 5.3 shall include the specific coverages and be written for not less than the limits of liability and coverages provided in the Supplementary Condi- tions, or required by law, whichever is greater. The com- prehensive general liability insurance shall include completed operations insurance. All -uch insurance shall contain a provt• sion that the coverage afforded will not be cancelled. materially changed or renewal refused until at least thirty days' prior written notice has been gt%en to OWNER and ENGINEER. All such insurance shall remain in effect until final payment and at all times thereafter when CON- TRACTOR may be correcting, removing or replacing defec- tive Work in accordance with paragraph 13.12. in addition, CONTRACTOR shall maintain such completed operations insurance for at least two ye,irs after final payment and furnish OWNER with e%•Jence of continuation of such :nsur- ance at final payment and ,ne year thereafter Contractual L.ability Insurance. 5.4. The comprehensive generai liability insurance required by paragraph 5.3 will include contractual liability insurance applicable to CONTRACTOR's obligations under paragraphs 6.30 and 6.31. Owner's Liabiliry Insurance.• 5 5. OWNER shall be responsible for purchasing and maintaining his own liability insurance and, at his option. may purchase and maintain such insurance as will protect OWNER against claims which may arise from operations under the Contract Documents Property insurance: 5.6. Lnless otherwise provided in the Supplementary Conditions. OWNER shall purchase and maintain properts insurance upon the Work at the site to the full insurable %alue thereof (subject to such ,feductible amounts as may be pro- vided in the Supplementary Conditions or required by kiw). This insurance shall include the interests of OWNER. CON- TRACiOR and Subcontractors in the work. shall insure against the perils of fin and extended coverage and shall include "all nsk" insurance for physical loss and damage including theft, vandalism and malicious mischief. collapse and water ,iatnage. and such other perils : s may be provided in the Supplementary Conditions, aiad shall include damages. losses and expenses arising out of or resulting irom any ,nsured loss or incurred .n the repair or tepi"irment of any nsured property lin.luding 'ees and :barges A engineer,