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Workmen's Compensation <br /> <br />The contractor shall take out and maintain dudng the life of this contract, Workmen's Compensation <br />Insurance for all of his employees employed at the site of the project under this contract. <br /> <br />Public Liability and Property Damage <br /> <br />The contractor shall take out and maintain dudng the life of this contract, comprehensive General Liability <br />Insurance with minimum single limits of $500,000.00 Bodily Injury and Property Damage Liability for each <br />occurrence. The coverage shall include Broad Form Property Damage Liability and Personal Injury <br />Liability. In addition, Excess Liability and Umbrella Coverage shall be carned with a minimum excess limit <br />of $1,000,000.00. Owned and non-owned Automobile Liability shall be maintained with minimum limits of <br />$250,00015500,000 Bodily Injury and $100,000 Property Damage. Insurance policy shall name Cabarrus <br />County Board of Education as additional insured. <br /> <br />Builder's Risk <br /> <br />The contractor shall take out and maintain during the life of this contract, Builder's Risk Insurance in the <br />amount of 100% of his contract. The insurance shall protect both the Contractor and the Owner as their <br />respective interests appear, Builder's Risk Insurance shall include extended coverage. <br /> <br />Cancellation <br /> <br />Each Certificate of Insurance shall bear the provision that 30 days cancellation notice will be given to the <br />Owner in event of cancellation of alteration of insurance contracts. , <br /> <br />Proof of Carriage <br /> <br />The Contractor shall furnish the Owner with satisfactory proof of carriage of the insurance required before <br />written approval of such insurance is granted by the Owner. <br /> <br />Other Insurance <br /> <br />The Contractor may, at his option, obtain and pay for such other insurance as plate glass, windstorm, <br />malicious mischief, etc. to protect his own interest to the extent that the Owner shall not be held liable for <br />any losses incurred by the Contractor for such reasons. <br /> <br />Indemnity <br /> <br />The Contractor hereby releases and discharges the Owner from liability for, and hereby assumes the risk <br />of loss of, or damage to, property of the Contractor. The Contractor shall indemnify against and save the <br />Owner harmless, and shall defend all claims or lawsuits brought against the Owner, from all Iosses and all <br />liability, expenses, and other detriments of every nature and description (including attorney's fees) to <br />which the Owner may be subjected by reason of any act of omission of the contract or of any of the <br />contractors subcontractors, employees, agents, invites, or licenses, where such loss, liability, expenses, <br />or other detriment arises out of or in connection with the performance of the work under this contract, <br />including but not limited to personal injury and loss of or damage to property of the Owner or others. <br /> <br />Changes in the Work <br /> <br />Extra work involving extra cost shall not be performed by the contractor unless in pursuance of an order <br />signed by the Owner or Architect. A Claim for an addition to the contract sum shall not be valid unless so <br />ordered. <br /> <br />Payment <br /> <br />One lump sum within 30 days of acceptance of work at each school. <br /> <br />End of Section <br /> / ff' <br /> <br /> <br />