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<br /> Gervais Woods <br /> <br /> Development Contract <br /> Contract <br /> 1. The Developer shall cause to be constructed, at his cost, the Required <br /> Improvements according to City standards. All of the Required Improvements shall be approved <br /> by the City and shall be consistent with approved Plat, the Grading Drainage and Erosion <br /> Control Plan, Tree & Pond Planting Plan, Landscaping Plan, and the Development Utility Plan <br /> as well as any requirements imposed by the City Engineer. A copy of the subdivision plat is <br /> attached hereto and incorporated herein as Exhibit A. <br /> 2. The Developer shall have no claim against the City and its officers and employees <br /> for damages sustained or costs incurred resulting from Plat approval and development. The <br /> Developer agrees to indemnify, defend and hold harmless the City, its agents and employees <br /> from any claim, demand, suit, action or other proceeding whatsoever by any person for any loss <br /> or damage to property or any injury to or death of any person resulting from any actions of the <br /> Developer, or their agents or contractors. Until all of Developer's obligations under this contract <br /> are fulfilled, the Developer shall provide and maintain public liability and property damage <br /> insurance covering personal injury, including death, and claims for property damage which may <br /> arise. Limits for bodily injury or death shall not be less than $1,000,000 for one person and <br /> $5,000,000 for each occurrence. Limits for property damage shall not be less than $5,000,000 <br /> for each occurrence. The City shall be named as an additional named insured on said policy, and <br /> the Developer shall file a copy of the insurance coverage with the City prior to the <br /> commencement of the Required Improvements. The insurance policy obtained by the Developer <br /> is subject to City approval. In the event that the City is held liable to a third party by a court of <br /> competent jurisdiction for damages and the insurance obtained by Developer for any reason fails <br /> to cover the City, the Developer shall be liable under this Contract for any and all costs incurred <br /> or damages claimed against the City. <br /> 3. This Development Contract cannot be assigned or transferred without prior written <br /> approval of the City. <br /> a62 <br /> <br />