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(e) Any certificate of insurance applicable to course of <br />construction insurance to be maintained shall be deposited with Agency prior to commencement <br />of construction of any Improvements. <br />(f) Each policy shall contain an endorsement that provides that <br />the insurance applies separately to each insured that is seeking coverage or against whom a claim <br />is made, except with respect to the limits of liability. <br />(g) Each policy shall be written as a primary policy not <br />contributing with and not in excess of coverage that Agency may carry. <br />(h) Each policy shall expressly provide that Agency shall not <br />be required to give notice of accidents or claims and that Agency shall have no liability for <br />premiums. <br />E. Blanket Policies Any insurance provided for in this Exhibit D may be placed by a policy <br />or policies of blanket insurance; provided, however, that such policy or policies provide that the <br />amount of the total insurance allocated to the Property and the Project shall be such as to furnish <br />protection the equivalent of separate policies in the amounts herein required, and provided <br />further that in all other respects any such policy or policies shall comply with the other provisions <br />of this Agreement. <br />F. Waiver of Subro ag tion To the extent permitted by law and the policies of insurance <br />required to be maintained hereunder, and without affecting such insurance coverage, Agency and <br />Owner each waive any right to recover against the other (a) damages for injury or death of <br />persons, (b) damage to property, (c) damage to the Property, the Project or the Improvements or <br />any part thereof, or (d) claims arising by reason of any of the foregoing, to the extent that such <br />damages and/or claims are covered (and only to the extent of such coverage) by insurance <br />actually carried by either Agency or Owner. This provision is intended to restrict each party (as <br />permitted by law) to recover against insurance carriers to the extent of such coverage, and waive <br />fully, and for the benefit of each, any rights and/or claims which might give rise to a right of <br />subrogation in any insurance carrier. <br />G. Compliance with Policy Requirements Owner shall observe and comply with the <br />requirements of all policies of public liability, fire and other policies of insurance at any time in <br />force with respect to the Property and the Project, and Owner shall so perform and satisfy the <br />requirements of the companies writing such policies that at all times companies of good standing <br />shall be willing to write or to continue such insurance. <br />1538954.2 24 <br />