Common use of Builder's Risk Coverage Clause in Contracts

Builder's Risk Coverage. During the life of the Project outlined under the Activation, the Construction Manager shall obtain and maintain a "Builder's Risk Policy" in completed value form, as a Direct Cost of the Work, issued to provide coverage on an "all-risk" basis including theft. This coverage shall not lapse or be cancelled and shall remain in force until the date of Substantial Completion for the entire Project, or each building within the Project, if applicable. The Owner shall pay for all deductibles under the Builders Risk's Policy. This insurance shall include the Owner and the Construction Manager as named insureds. The Subcontractors and Sub-subcontractors shall be additional insured as their interests may appear.