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1054867.2 <br />ARTICLE V <br />INSURANCE <br />Section 5.1. Insurance. <br />(a) The Developer will provide and maintain or <br />cause to be maintained at all times during the process <br />of constructing the Minimum Improvements (and, from <br />time to time at the request of the City, furnish the <br />City with certificates of insurance on): <br />(i) Builder's risk insurance, written on <br />the so- called "Builder's Risk -- Completed Value <br />Basis-' in an amount equal to one hundred percent <br />(100 %) of the insurable value of the Minimum <br />Improvements at the date of completion, and with <br />coverage available on the so- called "all risk" <br />form of policy; the interest of the City shall be <br />protected by naming the City as an additional <br />named insured; <br />(ii) Commercial general liability insurance <br />(including operations, premises, "X.C.U." where <br />applicable, Products /Completed Operations, <br />Contractual Liability, Broad Form Property Damage <br />and Independent Contractors with limits against <br />bodily injury and property damage of not less than <br />$1,000,000, together with excess umbrella limits <br />of not less than $1,000,000; and <br />(iii) Worker's compensation insurance, with <br />statutory coverage. <br />(b) Upon completion of construction of the Minimum <br />Improvements and prior to the Termination Date, the <br />Developer shall maintain, or cause to be maintained, at . <br />its cost and expense, insurance as follows: <br />Page 67 <br />