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22 <br />(c) The construction of the Model Home shall be deemed to be completed in <br />accordance with the Redeveloper’s obligations hereunder when the City has issued a certificate <br />of occupancy for such Model Home. The construction of the Public Improvements shall be <br />deemed to be completed in accordance with the Redeveloper’s obligations hereunder when the <br />City has accepted the Public Improvements in writing. <br /> <br />ARTICLE VI <br /> <br />INSURANCE <br /> <br /> Section 6.1. Insurance. The Redeveloper will provide and maintain or cause to be <br />maintained at all times during the process of constructing the Public Improvements and <br />Minimum Improvements and, from time to time at the request of the City, will furnish the City <br />with proof of payment of premiums on: <br /> <br />(a) During construction of the Minimum Improvements, builder’s risk insurance, <br />written on the so-called “Builder’s Risk – Completed Value Basis,” in an amount <br />equal to one hundred percent (100%) of the insurable value of the Minimum <br />Improvements at the date of completion, and with coverage available in non- <br />reporting form on the so-called “all risk” form of policy. <br /> <br />(b) Workers’ compensation insurance, with statutory coverage. <br /> <br />(c) Comprehensive general liability insurance. <br /> <br /> Section 6.2. Proof of Coverage. All insurance required in this Article shall be taken out <br />and maintained in responsible insurance companies selected by the Redeveloper which are <br />authorized under the laws of the State to assume the risks covered thereby. The Redeveloper will <br />deposit annually with the City a certificate or certificates or binders of the respective insurers stating <br />that such insurance is in force and effect. Unless otherwise provided in this Article, each policy <br />shall contain a provision that the insurer shall not cancel it without giving written notice to the <br />Redeveloper and the City at least thirty (30) days before the cancellation or modification becomes <br />effective. Not less than fifteen (15) days prior to the expiration of any policy, the Redeveloper shall <br />furnish the City evidence satisfactory to the City that the policy has been renewed or replaced by <br />another policy conforming to the provisions of this Article, or that there is no necessity therefor <br />under the terms hereof. In lieu of separate policies, the Redeveloper may maintain a single policy, <br />blanket or umbrella policies or a combination thereof, having the coverage required herein, in <br />which event the Redeveloper shall deposit with the City a certificate or certificates of the respective <br />insurers as to the amount of coverage in force upon the Minimum Improvements. <br /> <br /> <br />ARTICLE VII <br /> <br />PROHIBITIONS AGAINST ASSIGNMENT <br />AND TRANSFER; INDEMNIFICATION <br />