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boiler and machinery insurance in the aggregate amount of the full replacement value of the
<br />equipment typically covered by sLIeh insurance; such insurance shall be extended to include
<br />business interruption/extra expense coverage, as described above, provided, however, that the
<br />limits of coverage shall be not less than ninety days instead of twelve (12) months. On the
<br />coverage required tinder this subparagraph 306.2(b), all Additional Insureds to ll be nalned as are
<br />additional loss payee, as their interests may appear, with a lenders loss payable endorsement
<br />whenever possible, and if not attainable for Additional Insureds other than Agency, then a loss
<br />payable endorsement ent may be utilized, which shall be delivered to the Agency at the completion
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<br />of construction and prior to the piration of the uil l r' risk coverage required herein.
<br />(c) For all insurance required under this Section 306.2, said polices
<br />shall provide, by endorsement, that they will not be cancelled or non-renewed ed ith t at least
<br />thirty days prior Britten notice to the Agency, except in the event of non -pays ent of
<br />premium which shall provide for at least ten t days prior written notice to the Agency.
<br />306.3 Applicability to For• -Sale Portion of the Project. The insurance
<br />provisions and requirements as set forth in this Section 306 shall apply to both the Rental Poition
<br />of the Project and the For-Sale Portion of the project; provided, however, that notwithstanding
<br />any provision or requirement of this Section 306, the Developer shall have no obligation to
<br />maintain any form of insurance with respect to any Housing Unit including any Affordable For-
<br />Sale Unit) located Within the For -Sale Potti n of the Project upon the sale of such Housing Unit
<br />to a third-party buyer. Upon the sale of the last Housing Unit located within the For --Sale Portion
<br />of the Project, the Developer shall have no further obligation to Maintain any insurance with
<br />respect to the For-Sale Portion of the Development that would otherwise be required pursuant
<br />this Section 306.
<br />307. In eninity
<br />307.1 I evel pex• Indemnity. Developer shall indeninify, defend and hold
<br />harinless Agency and City, their respective offleers, agents, employces employees and volunteers from and
<br />against any and all lass or damage, expenses, injuries, death to any person, damage to real or
<br />personal property, claim, demand, suit, action, judgment, settlement, reasonable attorney's fees,
<br />costs, or proceeding of any kind arising out of e eleper"s actions and obligations pursuant to
<br />this Agreement, Developer's implementation of this Agreement, Developer's securing of
<br />financing, design development drawings, the engineering, construction, reconstruction, structural
<br />integrity of the Project, maintenance ee f Project, operation and subsequent sale of the Project,
<br />including but not limited to:
<br />(a) latent material defects in construction of the Project;
<br />(b) any construction defect in the Project;
<br />(c) personal injury, including death, of the employees, agents, officers,
<br />and/or lu teers of Developer, Developer Parties, and/or any subcontractors, independent
<br />contractors, rs, partners, am subsidiaries or third parties in connection with the Project;
<br />jeet;
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