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• Section 5 . 2 Insurance. <br /> ­(a) Redeveloper will- provide , the following insurance <br /> �at.-*the time of conveyance •of Redevelopment Property to <br /> Redeveloper and will maintain. such_ insurance at all times -_ -- <br /> during the process of const-ructing •the M-inimum Improvements, ' - <br /> and thereafter to the extent the Minimum- Improvements are owned <br /> by Redeveloper, and at the request of the HRA will . furnish the <br /> .:HRA with copies .of and proof -of payment of premiums on the' <br /> following insurance: <br /> (i) Builder '.s risk- insurance; written. on the <br /> so-called "Builder ' s Risk -- Completed Value Basis, " <br /> in an amount_ equal to. 100% of the replacement costs ' of <br /> the Minimum Improvements at the date of- completion, <br /> naming the HRA as an additional insured., with coverage <br /> on the so-called "all risk, " nonreporting form- of' <br /> policy; <br /> ( ii) Comprehensive general public liability- <br /> insurance, including personal injury liability (with <br /> employee exclusion deleted) and automobile. insurance, <br /> including owned, non-owned and hired automobiles, <br /> against liability for injuries to persons and/or <br /> property with respect to the Redevelopment Property, ' <br /> • in the minimum amount for each occurrence and for each <br /> year of $1 , 000 , 000, endorsed to show the HRA and the <br /> City as additional insureds;. <br /> ( iii) Worker ' s compensation insu.rance . in. compliance <br /> with ' all statutory requirements; <br /> ( iv) Contractual liability insurance relating to- <br /> the indemnification set forth in Section 5 . 1_ her.eof . <br /> The . policies of insurance required under clauses . ( i)., ( id) and <br /> ( iv) * above shall be in form and content satisfactory to the HRA <br /> and shall be placed with financially sound and reputable <br /> insurers licensed to transact business in the State of <br /> Minnesota . The policies shall. contain an agreement of the <br /> insurer to give not less than 60 days ' advance written notice <br /> to the HRA in the event of cancellation of such policy or <br /> change affecting the coverage. <br /> (b) Redeveloper shall notify the- HRA- immediately in <br /> the case of any damage to the Minimum -Improvements -or any <br /> portion thereof resulting from fire or . other.-casualty. In the <br /> event of any such damage, ,Redeveloper will ,forthwith- repair , <br /> reconstruct and restore the Minimum Improvements to . ' <br /> substantially the same or an improved condition as -existed <br /> • <br /> -13- <br />