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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; (b) business interruption and extra expense insurance to protect the
<br />Developer and all Additional insureds covering loss of revenues and/or 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 (12) 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 an amount in excess of a thirty (30) day period; and (c) as applicable,
<br />boiler and machinery insurance in the aggregate amount of the full replacement value of the
<br />equipment typically covered by such 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 (90) days instead of twelve (12) months. On the
<br />coverage required under this subparagraph 306.2(b), all Additional Insureds shall be 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 endorsement may be utilized, which shall be delivered to the Agency at the completion
<br />of construction and prior to the expiration of the builder's 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 without at least
<br />thirty (30) days prior written notice to the Agency, except in the event of non-payment of
<br />premium which shall provide for at least ten (10) 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 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 />Sale 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 />307.1 Developer Indemnity. Developer shall indemnify, defend and hold
<br />harmless Agency 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, settlement, reasonable attorney's fees,
<br />costs, or proceeding of any kind arising out of Developer'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 of Project, operation and subsequent sale of the Project,
<br />including but not limited to:
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