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Certificate of Completion in recordable form stating that the obligations of the <br /> • Developer with respect to the construction of the Minimum Improvements under <br /> this Agreement have been satisfied. The Minimum Improvements shall be deemed <br /> to be completed when a certificate of occupancy has been issued by the City for the <br /> Minimum Improvements and the Developer has provided security or other <br /> assurances reasonably satisfactory to the Authority assuring that any remaining <br /> items, including, without limitation, landscaping, will be completed. <br /> ARTICLE V. <br /> Insurance and Condemnation <br /> Section V.1 Insurance. <br /> (a) The Developer will provide and maintain at all times during the <br /> process of constructing the Minimum Improvements and, from time to time at the <br /> request of the Authority, furnish the Authority with proof of payment of premiums <br /> on: <br /> (i) Builder's risk insurance, written on the so-called `Builder's Risk <br /> -- Completed Value Basis," in an amount equal to one hundred percent <br /> • (100%) of the insurable value of the Minimum Improvements at the date of <br /> completion, and with coverage available in nonreporting form on the so called <br /> "all risk" form of policy. The interest of the Authority shall be protected in <br /> accordance with a clause in form and content satisfactory to the Authority; <br /> (ii) Comprehensive general liability insurance (including <br /> operations, contingent liability, operations of subcontractors, completed <br /> operations, Broadening Endorsement including contractual liability <br /> insurance) together with an Owner's Contractor's Policy with limits against <br /> bodily injury and property damage of not less than $1,000,000.00 for each <br /> occurrence (to accomplish the above-required limits, an umbrella excess <br /> liability policy may be used); and <br /> (iii) Worker's compensation insurance, with statutory coverage and <br /> employer's liability protection. <br /> The policies of insurance required pursuant to clauses (i) and (ii) above shall be in <br /> form and content reasonably satisfactory to the Authority and shall be placed with <br /> financially sound and reputable insurers licensed to transact business in the State, <br /> the liability insurer to be rated A or better in Best's Insurance Guide. The policy of <br /> insurance delivered pursuant to clause (i) above shall contain an agreement of the <br /> 110 insurer to give not less than thirty (30) days' advance written notice to the <br /> 9 <br /> BeckP 548540.1 <br />