Illegible document excerpt, 75 Maiden Lane, Mar 2002

NYC 9/11 Public Portal Document

05123/02 14:33 FAX 7182091808 BENJAMIN KL132BAN l005 E3/18f2002 e4:24 2390911 AM PROPERTY HOLDING PAGE 04/0F .2;14M ' 16, 2002 T.C.. NO: 201-661-5001

e) Prior to commencing the Work and prior to receiving payment on Substantial and Total Performance of the Work, the Contractor shell provide evidence ofcompliance with the requirements ofthe State of New York with respect to workers'compensation insurance including payments due thereunder.

At any time during the terns of the Contract, when requested by the Owner, the Contractor shall provide such evidence of Workers' Compensation including Employers Liability with minimum Limits of SS00,000/$500,000IS500,000.

All insurance policies shall be obtained by the Contractor, shall be written on an "occurrence" basis and shall be agreed upon by the Owner prior to the coimnencement of the work. During the term of this agreement, the Contractor must promptly produce on demand of Owner evidence of the required insurance

coverage and payment of premiums thereon unless Owner assumes responsibility for payment of such premium. If not so produced, the Owner shall have the immediate right to procure the required insurance on behalf of the Contractor, and to charge and deduct the cost thereoffrom the within price, but Owner shall not be under any obligation to do so.

The Owner is to be evidenced as Additional Insured on the Comprehensive General Liability, Automobile Liability and Excess Liability Policies. Owner is to receive 30 days notice of cancellation or non-renewal of coverage and/or changes in limits ofcoverage.

All policies of Contractor shall contain an endorsement whereby the insurance carriers agree that its insurance is primary and not contributory with or in excess of any coverage which the Owner has purchased.

The Contractor shall be responsible for all loss or damage to the work, including the Contractor's materials delivered to site for incorporation therein and all property issued to the Contractor by the Owner for use of incorporation in the work.

The Owner shall inure against all risk of direct physical loss under a policy ofinsurance which shall protect,

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NYC-WTC 000097345