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28 <br />TW185\1\1011577.v13 <br />1. Builder’s risk insurance, written on the so-called “Builder’s Risk <br />Completed Value Basis,” in an amount equal to 100% of the insurable <br />value of the Development at the date of completion, and with coverage <br />available in nonreporting form on the so-called “all risk” form of policy; <br />2. Commercial general liability insurance (including operations, contingent <br />liability, operations of subcontractors, completed operations and <br />contractual liability insurance) with limits against bodily injury and <br />property damage of not less than $2,000,000 for each occurrence and as <br />an annual aggregate (to accomplish the above-required limits, an <br />umbrella excess liability policy may be used); <br />3. Workers’ compensation insurance, with statutory coverage; <br />4. Employer’s liability insurance, with minimum limits as follows: <br />(A) $500,000 bodily injury by disease per employee, <br />(B) $500,000 bodily injury by disease aggregate, and <br />(C) $500,000 bodily injury by accident; and <br />5. Business automobile liability insurance (including coverage for <br />owned, hired, and non-owned automobiles) in the minimum amount <br />of $2,000,000 per occurrence, combined single limit for bodily injury <br />and property damage. <br />All insurance required in this Section shall be taken out and maintained in <br />responsible insurance companies selected by the Developer which are <br />authorized under the laws of the State to assume the risks covered thereby.