(A) Hazards (Property Damage) If a The participant will provide hazard insurance (fire, windstorm, water damage, etc.) covering the materials, equipment and structures acquired or constructed under this Cooperative Agreement. Any deductible amount under the policy will be the sole responsibility of the Participant. Proceeds from such insurance may be used to replace the damaged or destroyed property. decision is made not to replace or repair the property then the proceeds will be paid to DOE in the same ratio as the cost-share formula applicable to the phase of the Cooperative Agreement when the equipment or property was purchased. This insurance will be in the amount of the purchase price or fair market value, whichever is greater. (B) Flood Insurance If funds under this Cooperative Agreement are used for acquisition or construction purposes in an identified flood plain area in the United States having special flood hazards, the Participant agrees to purchase flood insurance and comply with the provisions prescribed by the Federal Insurance Administration in 24 CFR Chapter X, Subchapter B. (C) Indemnity The Participant shall indemnify the Government and its officers, agents or employees for any and all liability, including litigation expenses and reasonable attorneys' fees, arising from suits, actions or claims of any character for death, bodily injury, or loss of or damage to property or the environment in connection with or resulting from the fault or negligence of the Participant or the Government, jointly or severally, in the implementation, operation, use, possession, handling, management, or disposition of the project under this Cooperative Agreement. The Participant shall require any construction contractor or subcontractor to obtain performance and payment bonds for any construction project which exceeds $100,000 under this Cooperative Agreement. Bonding terms and conditions will be the same as those imposed on construction contractors who perform U.S. Government construction contracts (Miller Act, 40 USC 270a-270f). Ninety (90) days after the beginning of the budget periods for Phases I and II, the Participant will submit to the DOE for DOE approval a Project Evaluation Plan. This Plan will identify and describe the criteria by which the technical and economic feasibility of the project are to be measured. The Project Evaluation Plan as reviewed, revised, and approved by DOE will be used by the Participant for the preparation of a Project Evaluation Report to be submitted to the DOE 60 days prior to the end of the budget period for which the Project Evaluation Plan was prepared. The approved Plan will be used by DOE as the basis for the DOE decision to continue the project to the |