Laserfiche WebLink
Love to Grow On Site Performance Agreement page 7 of 10 <br />day labor or by regular City forces. The Developer may not question <br />the manner of doing such work or the letting of any such contracts <br />for the doing of any such work; provided that all such work is <br />performed in a reasonable manner, the costs are reasonable and the <br />work is completed in a good and workman-like manner and in <br />accordance with the approved plans and specifications. Upon <br />completion of such work, the Developer shall promptly pay the City <br />the full cost thereof as aforesaid. <br /> <br />3. Deposit of Financial Guarantee. In the event the financial guarantee <br />has been submitted in the form of a Letter of Credit, the City may <br />draw on the Letter of Credit the sum equal to the reasonably <br />estimated cost of completing the Work, plus the City's reasonably <br />estimated expenses as defined herein, including any other reasonable <br />costs, expenses, and damages for which the surety may be liable <br />hereunder, but not exceeding the amount set forth on the Letter of <br />Credit. The money shall be deemed to be held by the City for the <br />purpose of reimbursing the City for any reasonable costs incurred in <br />completing the Work as hereinafter specified. Any funds remaining <br />after completion of the project shall be promptly returned to the <br />Developer. <br /> <br />VIII. OCCUPATION OF PREMISES <br /> <br />The Developer agrees that it will not cause to be occupied any portion of the <br />building or improvements to be constructed upon the premises until completion of <br />the building and site improvements as more fully described in the approved plans <br />and following issuance of a Certificate of Occupancy. <br /> <br />IX. INSURANCE <br /> <br />Developer or its general contractor shall take out and maintain until one year after <br />the City accepted the Developer Improvements, public liability and property <br />damage insurance covering personal injury, including death, and claims for <br />property damage which may arise out of the Developer's or general contractor’s <br />work, as the case may be, or the work of its subcontractors or by one directly or <br />indirectly employed by any of them. Limits for bodily injury and death shall be <br />not less than Five Hundred Thousand and no/100 ($500,000.00) Dollars for one <br />person and One Million and no/100 ($1,000,000.00) Dollars for each occurrence; <br />limits for property damage shall be not less than One Million and no/100 <br />($1,000,000.00) Dollars for each occurrence; or a combination single limit policy <br />of Two Million and no/100 ($2,000,000.00) Dollars or more. The City, its <br />employees, its agents and assigns shall be named as an additional insured on the <br />policy, and the Developer or its general contractor shall file with the City a <br />certificate evidencing coverage prior to the City signing the plat. The certificate <br />shall provide that the City must be given ten days advance written notice of the