|
boiler and maclairrery irrsurance ita the aggregate a~~no~tnt of the firll replacement value of the
<br /> equipmerrt typically caver'ed by s~tch insr~rance; such insur•atace shall lie extended to include
<br /> b~tsirtes inter'r'uptiorrlextra expetase coverage, as dcseribed above, provided, lao~vever', that the
<br /> limits of covet•ae shall be not less tlaata ninety days instead of t~velve ~l rnotatlas~ ~n ~lre
<br /> covet•age required ~tnderi this subparagraph 306~2~b}, all ~ddrtrarial ~ns~treds shall be named as an
<br /> additiorra~ lass payee, as tlreir4 itatet•ests tray appear, vita a lender's lass payable endorsement
<br /> ~~hetaever~ possible, and taot attainable for• Add~tiotaal Irrsureds otlreri than agency, tlrerr a loss
<br /> payable etadorsernent rna~ be ut~ I ized, ~vhich shall be del ivered to the Agency at the canrpletiorr
<br /> of constructian and priar to the expiratiot~ of tlae builder's r•lsk eavet•ae required herein,
<br /> ~c~ Doti all arrsura~rce req~t~t•ed under thrs ectrora said palices
<br /> shall pravfde, by endorsement, that they ~vill trot lie catrcelled oz4 taon-rene~ved ~vitlrout at least
<br /> tlair~y X30} days pr~~or ~~ritterr notice to the .gency, except i~r tlae event of nan-payment of
<br /> premium ~~rlriclr shah ptio~ride far' at least tern ~l days pr•lar' ~~~rltterr rrot~ce to the Agency,
<br /> 063 Applicabi~i? ~o ~o~~-Sale ~o~~~torr off' #~te P~~o~et' The itasutkance
<br /> pravlsiorrs acrd requiretarent asset for~t~r in this Sec~iorr 306 shall apply to both the ~etrtal 1'oz~tion
<br /> of tlae ~'ro~ect acid the for«Sale Portion of the Project; provided, lro~vever, that taotithstarrding
<br /> airy provision or r'egttirernent of flair Section 306, tlae Developer' shall have na obligation to
<br /> maintain any foz'tn of ttasurarrce ~vitlr t~espcct to arty ~-~ol~srtrg Utah ~lncludln airy Affar~able Fo~~-
<br /> Sale Unity located ~vitlain the I'or-Sale ~'ortion of the Project upata the sale of such ~.o~tsitag Utait
<br /> to a third-party buyer Upon the sale of the last l~o~tsita Urai~ located ~vitlri~a the Por~Sale Portion
<br /> of t~~e Project, the Developer shall have rro further obliatio~r to rnaitrtairr stay itast~rance itlr
<br /> respect to the Por~Sale Portion of the Development that ~vauld other~~vise be required p~tt•suant to
<br /> this Section 306
<br /> ~t1delYrrllt~'
<br /> 307,E ~3e~velopex' ~~Zdertanity, Developer shall rndernrrrfy, de~etad and bald
<br /> lrarrnless Agency atad ~it~~, their' respective officer's, agents, employees and volr~rrteers fr•on~ atad
<br /> agairas~ any and a Ions or damage, expetases, itrjuries, death to arty pet•son, damage to r;cal ot•
<br /> personal properly, elai~rr, dematad, suit, ac~iorr, judgmetat, se~tltnenti reasotrab~e attorney's fees,
<br /> costs, ox• px•aceeding of try lCitad arisi~ag out of l~evelopctk's acttans arld obllat~ans rrr~sr~arl~ to
<br /> this Arecrnetrt~ Develaper•'s inrplerne~atatiota of Allis Agr+eetn.etat~ l~e~relaper's recur+i~rg of
<br /> fitaancin, desrg~r development drawings, the etaineerin, corrstructiorr, xieconsfruc~larr, structural
<br /> irrtegr4ity of floe Pr'o~ect, rrraintetaance of Project, opcratiota atad subsegrtent sale of the Pra~ect,
<br /> 1nclUding but not ltmrted to~
<br /> ~a} latent mater•tal defects rrr canstructiorr of floe Pro
<br /> jest;
<br /> ~b~ airy cotastructron defect rtr the 1't•o~ect;
<br /> (c~ personal it~juz~y, itacludin death, oft~re etnplayees, agents, of~icet•s,
<br /> arrdlor volr~nteers of Developer, Developer Parties, atad~o~k atr~~ subcontractors, independent
<br /> CQrlt~'aCt01's, par'tt~er"s, arld~or' s~tbstdtar~te or tlrlr'd par'tres rr~ connecttata ~vitlr the Pro~ect$
<br />
<br /> DDCSOC~1 ~~0673~~~ 312~~2~2-~~~~
<br /> i
<br /> . f
<br />
<br />
|