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<br />and after construction and before and during operational phases <br />of this project. <br />ii. Based on identified exposures, Marsh will design risk financing <br />and/or transfer strategies to mitigate identified exposures to <br />protect the interests of the Northstar Cooperating Entities. Marsh <br />will perform the following analysis for each identified exposure, <br />including exposures relating to the BNSF activities and contracts: <br />1. Description of the identified exposure; <br />2. Potential effect of identified exposures on the pre- <br />construction/construction and/or operational p~~ses of the <br />project;/.),i <br />3. Risk financing alternatives available, includirig.)ii)'\"'i <br />recommended level of risk to be retain~dQy,Northstaf <br />Cooperating Entities; . <br />4. Available insurance markets; <br />5. Estimated cost of alternatives; <br />6. Pros and cons of each alternative; and <br />7. Recommend types and levelsqtcOVt3rage to minimize <br />costs while achieving maximumcoverage and/or <br />protection. . <br />b. Project Consulting Services ,.. '. . <br />i. Contract Management . ..// <br />1. Identify potential haza~dswithdesign and construction <br />professionals and contractors that will be involved in this <br />project, develop in.surance coverages and limits to be <br />reqUired by the Nort~star Cooperating Entities for the <br />con1n~ctors appropriate to the risk and exposure to protect <br />Jhe Nort~~tar Cooperating Entities. <br />2. Assist inm~naging the transfer from construction to <br />,'/ <br />operations stage of this project whileadvising on proper <br />\ insurance coverages to be maintained by all parties <br />involved. <br />3. Obtain and review certificates of insurance submitted by <br />. . contractors to ensure they are in compliance with the <br />required insurance. <br />ii. BNSF Negotiations <br />1. Advise the Northstar Cooperating Entities in negotiating <br />insurance and indemnification terms and conditions with <br />the BNSF for both the construction and operational phases <br />of the Northstar Corridor Rail Project. Identify and provide <br />risk financing and/or transfer alternatives to Northstar <br />Cooperating Entities that mitigate identified exposures and <br />protect the interests of the Northstar Cooperating Entities <br />with respect to BNSF negotiations. Analysis for each <br />alternative will include but not be limited to the following <br />elements: <br />a. Description of the indemnification required by <br />BNSF; <br />b. Potential effects on Northstar Cooperating Entities; <br /> <br />12 <br />