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XXXX Edgerton Street <br />Development Contract <br />agents and employees from any claim, demand, suit, action or other proceeding whatsoever by <br />any person for any loss or damage to property or any injury to or death of any person resulting <br />from any actions of the Developer, or their agents or contractors. Until all of Developer's <br />obligations under this contract are fulfilled, the Developer shall provide and maintain public <br />liability and property damage insurance covering personal injury, including death, and claims for <br />property damage which may arise. Limits for bodily injury or death shall not be less than <br />$1,000,000 for one person and $1,000,000 for each occurrence. Limits for property damage <br />shall not be less than $1,000,000 for each occurrence. The City shall be named as an additional <br />named insured on said policy, and the Developer shall file a copy of the insurance coverage with <br />the City prior to the commencement of the Required Improvements. The insurance policy <br />obtained by the Developer is subject to City approval. In the event that the City is held liable to <br />a third party by a court of competent jurisdiction for damages and the insurance obtained by <br />Developer for any reason fails to cover the City, the Developer shall be liable under this Contract <br />for any and all costs incurred or damages claimed against the City. <br />3. This Development Contract cannot be assigned or transferred. <br />4. Any breach of the terms of this Agreement by the Developer shall be grounds for <br />denial of the issuance of any building permit and forfeiture of any financial security. <br />5. There is no intent to benefit any third parties and third parties shall have no recourse <br />against the City under this Contract. <br />6. The Developer shall reimburse the City for all costs incurred by the City in defense <br />or enforcement of this Contract, or any portion thereof, including court costs and reasonable <br />engineering and attorneys' fees. <br />7. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this <br />Contract is for any reason held to be invalid by a court of competent jurisdiction, such decision <br />shall not affect or void any of the other provisions of the Development Contract. <br />6 <br />