Contractor coverage. The Developer shall include the provisions of Section 10.2 in its agreements with contractors engaged to construct the Improvements, substituting the contractor for “Developer” as appropriate. Additionally, the Developer shall ensure that all engineers and architects engaged to design the improvements shall maintain professional liability insurance coverage in an amount at least as large as the amount of the architectural or engineering services contract, but in no event less than $500,000. The borrower should replace “Developer” with said engineer or architect as appropriate. Such engineers and architects shall also name the City as additional insured.
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Sources: Construction Contract, Construction Contract, Contract for Construction of Public Improvements
Contractor coverage. The Developer shall include the provisions of Section 10.2 11.2 in its agreements with contractors engaged to construct the Improvements, substituting the contractor for “Developer” as appropriate. Additionally, the Developer shall ensure that all engineers and architects engaged to design the improvements shall maintain professional liability insurance coverage in an amount at least as large as the amount of the architectural or engineering services contract, but in no event less than $500,000. The borrower should replace “Developer” with said engineer or architect as appropriate. Such engineers and architects shall also name the City as additional insured.
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