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• <br />Development Contract <br />Clearwater Creek 5th Addition <br />B. If the above escrow amounts are insufficient, the developer shall make such <br />additional deposits as required by the City. The City shall have a right to reimburse <br />itself from the Escrow. <br />VI. BUILDING PERMITS <br />A. The Developer agrees that building permits may be issued upon approval of the <br />Final Plat by the City Council at which time all required Financial Security shall be <br />in place with the City. <br />B. The Developer further agrees that City Sewer, Water, Storm Sewer, and Bituminous <br />Base Construction of the Streets, temporary street signs, gas, electric, and telephone <br />will be completed prior to the issuance of building permits. <br />VII. HOURS OF CONSTRUCTION ACTIVITY <br />A. All construction activity shall be limited to the hours set out in City Ordinances as <br />follows: <br />Monday through Friday 7:00 a.m. to 7:00 p.m. <br />Saturday 9:00 a.m. to 5:00 p.m. <br />Sunday and Holidays No working hours allowed <br />VIII. OWNERSHIP OF IMPROVEMENTS <br />A. Upon completion of the work and construction required by this contract and <br />acceptance by the City, the improvements lying within the public easements shall <br />become City property without further notice or action. <br />IX. INSURANCE <br />A. Developer or all its subcontractors shall take out and maintain until one (1) year <br />after the City has accepted the private improvements, public liability and property <br />damage insurance covering personal injury, including death, and claims for property <br />damage which may arise out of the Developer's work or the work of his <br />subcontractors or by one directly or indirectly employed by any of them. Limits for <br />bodily injury and death shall be not less than Five Hundred Thousand and no /100 <br />($500,000.00) Dollars for one person and One Million and no /100 ($1,000,000.00) <br />Dollars for each occurrence; limits for property damage shall be not less then Two <br />Hundred Thousand and no /100 ($200,000.00) Dollars for each occurrence; or a <br />combination single limit policy of One Million and no /100 ($1,000,000.00) Dollars <br />or more. The City, its employees, its agents and assigns shall be named as an <br />additional insured on the policy, and the Developer or all its subcontractors shall file <br />with the City a certificate evidencing coverage prior to the City signing the plat. <br />The certificate shall provide that the City must be given ten (10) days advance <br />page 11 <br />