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to protect against loss of, damage to, or destruction of the Project; such insurance shall not
<br />contain a coinsurance clause; business interruption and extra expense insurance to protect the
<br />Developer and all Additional Insureds covering loss of revenues and for extra expense incurred
<br />by reason of the total or partial suspension or delay of, or interruption in, the operation of the
<br />Project, or any portion thereof, caused by loss or damage to or destruction of any part of the
<br />insurable real property structures or equipment as a result of the perils insured against under such
<br />all-risk property insurance, covering a period of suspension, delay or interruption of at least
<br />twelve 1 calendar months, in an amount not less than the amount required to cover such
<br />business interruption and/or extra expense loss during any such period; such insurance shall not
<br />contain a deductible in are amount in excess of a thirty day period; and a as applicable,
<br />boiler and machinery insurance in the aggregate amount of the full replacement value of the
<br />equipment typically covered by such in su ran e; 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 b not less than ninety o days instead of twelve 1 months. on the
<br />coverage required under this subparagraph 306.2(b), all Additional Insureds shall he named as an
<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 en do rs m nt may be utilized, w hieh shall b e delivered to the Agency at the completion
<br />of construction and prior to the expiration of the builder's risk overage required herein.
<br />(c) For all insurance required under this Section 306.2, said polices
<br />shall provide, by endorsement, that they wi 11 not be cancelled or non-renewed without at least
<br />thirty o days prior written notice to the Agency, except in the event of non-payment of
<br />premium which shall provide for at least tern 10 days prior written notice to the Agency.
<br />306.3 Hipp Iieahili ty 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 en tal Portion
<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 />ale Unit) located within the For-Sale portion 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 to
<br />this Section 306.
<br />307. Indemnity
<br />07.1 Developer Indemnity. Developer shall indemnify, defend and hold
<br />harmless A cen r and City, their respective officers, agents, employees and volunteers from and
<br />against any and all loss or damage, expenses, injuries, death to any person, damage to real or
<br />personal property, claim, demand, suit, action, judgment, se t tlem n t, reasonable a t tomey's fees,
<br />costs, or proceeding of any kind arising out of I uv lop is actions and obligations pursuant to
<br />this Agreement, Developer's implementation of this Agreement, Developer's securing of
<br />financing, design development drawins, the engineering, construction, tru a tion, reconstruction, structural
<br />a tural g g
<br />integrity of the Project, maintenance of Project, operation and subsequent sale of the Project,
<br />including but not limited to:
<br />DOsol 4673v 14/200272.0001
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