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�T�cLE v Insurance and Condemna#ion Section S.I. Insurance. (a) The Developer wi�l provide and maintain at alI tirnes d�ring the process of eonstructing the Minimum Improvements an A11 Risk Broad Form Basis Insurance Policy and, from time to time d�ring that period, at the request of #he City, furnish the City with proof of payment of �remiums on po}icies covering the foIlowing: (i) Builder's risk insurance, written on the so-cal�ed `Builder's Risk -- Comp[eted Value Basis," in an amount equal to one hundred percent (] 00%) of the i�surable value of the Minimu�-n lmpro�ements at the date o� completian, and with coverage available in nonreporting form on the so-called "all risk" form af policy. (ii) Cornprehensive general ]iability insurance (including operations, co�tingent liabi�ity, aperations of subcontractors, completed operations and contractual liabitity insurance} together with an Owner's Protective Liability Policy vvith iimits against bodily injury and property darrzage of not Iess than $1,U00,000 for each occurrence (ta accornplish the abo�e- required lir�its, an umbrella excess liability policy may be used). {iii) Workers' compensation insurance, with statutory co�erage, if the Develoger has empioyees. (b} Upan eompletion of eonstruction of t�e Minimum lmprovements a�d prior to the Maturity Date, the Developer shall maintain, or cause to be �naintai�ted, at its cost and expense, and from time to time at the request of the City sha31 furnish proof of the payment of premiums on, insurance as foEEows: (i) Insuranee against loss and/or damage to the Mini�nu�n Improvernents under a policy or policies co�ering s�zch risks as are ordinarily insured against by similar businesses. (ii} Compreher�sive general pub]ac Iiability insurance, inc�uding personal injury liability (with employee exclusion deleted}, against liability for inj►aries to persons and/or property, in the minimum amount for each occurrence anc� for each year of $I,000,000, and shal] be endorsed to show the City as adctitional insured. {iii) Such other insurance, inclvding workers' compensation insurance rEspecting all e�n�Ioyees of the Developer, in such amount as is customarily camed by �ifce organizatians engaged in ]ike activities of comparab3e size and liability exposure; provided that the Deve�oper rrtay be self-insured with respect to all or any part of its liability %r workers' corrtpensation. � (�} AII insurance required i� Article V of this Agreement shall be taken o�tt and maintained in responsibie insurance co�-npanies selectec� by the Developer which are authorized under the laws of the State to assume the risks covered thereby. Upon request, the Deve�oper wilI depasit annually with the City policies evidencing all such insurance, or a certificate or certificates or binders of the respective insurers stating that s�ch i�surance is in force and effect. Unless otherwise pro�ided in t�►is Article V of this Agreemen� each policy sha�f contain a provision that the insurer sha11 not cance] nor modify it in such a way as to red�ce the coverage provided below the amounts required herein without giving written notice to the Developer anc� the City at least thirty (30} days before the caneellation or modifcation becames effect�ve. In lieu of separate policies, the Developer may maintai� a singIe policy, blan3cet or umbrella I7