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fig} ha??ld at?y ?? the insurance co?rerae re?trired here be written itlr <br />an a??nrral aggregate st?clr aggregate shall be disclased in ??rrtrn to the Agerrcy. <br />?h? Par' alI insrrrarrce re?rrired under this Section 3??,?, tl?e Agency <br />sl?a?Il lave the right, at eery eve ?5? year period, to ?'evte?v the types arrd ltn??ts of rnsurance <br />co?rerage req?rired l?ereir? arrd to male reasonable adusttents, provided that such types at?d <br />Iit?its shall not exceed teat typically carried by the a?vner' and operator of a carnpa?'able <br />affoz`dable ha??sin apartr?ent can?plex, of approximately the sat?.e size, ire range Co??nty, <br />?alifarnia, based orr reasonable research at?d irr?restigatian by t??e Agency. <br />U6?? P??opet'?y ?t?str??aricc? arnr??enci??g rrpor? the ?Iosin fot• each Phase and <br />cantrn??rrrg for the dru'atiar? of the Affordability Per4iod ?vitl? respect to srtel? Phase, ?evelapet' <br />shall seut'e, t?aintairr, at?d pa?? ?'or the folla??ing ali?risk Praper•ty Insrtr'at?ce; pravicled, l?a?vever', <br />rte tine ease of?ut?dr' il? it?srtrat?ce ?vlrete Developer{ i not tl?e general contr'actor', Develope?? <br />r??ay cause the requi?'ed builder's risk insurance to be sec??recl, tnairlta?ned, arrd paid far' by the <br />general cat?tt'actar; <br />?a} Prior to tl?e start of construction at?d cat?tintting ??t?til the <br />carnpletion of corrstt4r?ction {tl?e latter of firral aceeptarrce of the Praject o?i issuatrce of the final <br />certificate of acc«paney for the Pa'oject}; aliwrik builder's Risk course of construction} <br />insurance coverage in ate an?olttlt e??al to tl?e fell cost of the Lard constt'??etion casts of tl?e <br />?'r+o?ect, ucl? insrtrarrce shall cover, at a minirrr?lrrr: all ?vork, trtaterials, at?d e?uipn?er?t to be <br />rl?cor'porated rnto tine Pr'a?ect; the Pl`a?eet dl?r't??g coristr??ct?on; the corr?plete?l Project llr]tll such <br />tirrre as it is accepted by the Agency; and storage at?d tr'anspor'tation risl?s, ucli rt?sut'ance shall <br />pr+otectlrns?rre the interests of the De?reloperfo?vrrer at?d all contr'actor?s?, arrd ail slrbcontr'actors, <br />as each of their interests r?xay appear'. ?f s?rcl? ins??r;ar?ee i??clude? a?? exclt?iat? for `{design ez•x+or," <br />such eclrrsiarl slrai? only be far tine object or portiarr ?lric?x failed. Such ins?tr'at?ce si?all incl?rde <br />ate inst?rer's ?varV?r` of subrogation its favor of each pratectedlinsured party thereunder and the <br />Agency, Tl?e Agency shall be rratned as an additional lass payee, as its interests rrray appears, <br />??ith a lass payable er?dorsement, ?vhicl? shall be delivered to tl? Agency priior; to the start of <br />cot?str???ctior?. <br />fib} otrtt?rencing ??vitl? tl?e campletiorr of car?str'€tction at?d contir?rtin <br />for tl?e duration of the Affordability Period: ?a? all-risk physical da??age ins?rr'at?ce coverage, ors <br />are all-r'isk basis, eoveririg II insurable str'?rctrtres and et?uiprnent, inclrtding coverage far' buildi??g <br />code changes, rrr an at?ount nat Iess thar? I0?°I? of the replacerxrerrt cost of tl?e total valrtes at risk, <br />?vhicl? shall be adjusted for increased costs of cot?strlrctior? arrd replacement on are ann?ral basis, <br />to protect against lass of, damage ta, or destr'uctiorr of tl?e Projects such ir?s??r'a??ce shall riot <br />contain a cains?rrar?ce cla?tse; ?b? brtsiness interr'rtptian and extra expense insurance to protect tl?e <br />Developers and all Additior7al insureds covering Ions of rever?rres andlor extra expense incurred <br />by reasarl of tlae total ar' par'tial suspension ar delay of, ar' rnterr•?rptior? in, tl?e operation of tl?e <br />Pr'o?ect, ar at?y portion thereof, caused by doss or ?ltrtage to or destrrrctrari of at?y part of the <br />ins?trable real pr'aper•ty structures or' e??xiptnent as a result of the perils ins??red against ?rnder such <br />all-risk property ins?rrat?ce? covering a period of srzspensian, delay ar irrterrrxptian of at least <br />t?vel?re ?l?} calendars i?anths, its an atnaurrt not less than the amount required to cover' such <br />business interr?iptton at?dlor extra expense Ions durir?g any s??cl? period; srtch insurance shall not <br />contarrl a deductrble iii an ai?orri?t iil excess of a tl?ir?ty X30} day period; and ?c? as applicable, <br />?? <br />D?CS4 CII ? ??b7v 131?4??"?2-DDD ?