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• <br />14. HOURS OF CONSTRUCTION ACTIVITY. All construction activity shall be <br />limited from 7:00 a.m. to 7:00 p.m., Monday through Friday and 9:00 a.m. to 5:00 p.m. on <br />Saturdays. No work shall be allowed on Sundays or the Holidays of Thanksgiving, Christmas, New <br />Years Day, Independence Day and Labor Day without the prior written consent of the City. <br />15. OCCUPATION OF PREMISE. The Developer further agrees that they will not cause to be <br />occupied for the purposes of conducting business or residential housing, any premises constructed <br />upon the plat or any property within the plat until the completion of the gas, electric, telephone <br />(Developer Improvements), and street and utility improvements (Public Improvements) serving <br />such premises to the extent of the concrete curb, gutter and bituminous base required by this <br />Development Contract to be constructed, unless the City has agreed in writing to waive this <br />requirement as to a specific premises. Furthermore, issuance of building permits for lots within the <br />Development Property shall be conditioned upon the owner and its contractors using all <br />commercially - reasonable efforts to avoid interference with construction of the Public <br />Improvements. <br />16. INSURANCE. Developer or all its subcontractors shall take out and maintain until one (1) <br />year after completion of the Developer Improvements, public liability and property damage <br />insurance covering personal injury, including death, and claims for property damage which may <br />arise out of the Developer's work or the work of his subcontractors or by one directly or indirectly <br />employed by any of them. Limits for bodily injury and death shall be not less than Five Hundred <br />Thousand and no /100 ($500,000.00) Dollars for one person and One Million and no /100 <br />($1,000,000.00) 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 combination single <br />limit policy of One Million and no /100 ($1,000,000.00) Dollars or more. The City, its employees, <br />its agents and assigns shall be named as an additional insured on the policy, and the Developer or <br />all its subcontractors shall file with the City a certificate evidencing coverage prior to the City <br />signing the plat. The certificate shall provide that the City must be given ten (10) days advance <br />written notice of the cancellation of the insurance. The certificate may not contain any disclaimer <br />for failure to give the required notice. <br />17. EVENTS OF DEFAULT. Events of Default Defined. The following shall be "Events of <br />Default" under this Agreement and term "Event of Default" shall mean whenever it is used in <br />this Agreement, any one or more of the following events: <br />A. Failure by the Developer to substantially observe or perform any material <br />covenant, condition, obligation or agreement on its part to be observed or performed <br />under this Agreement, Ordinance 04 -04, or the Redevelopment Contract. <br />B. Remedies on Default. Whenever any Event of Default referred to in Section. <br />17.A. of this Agreement occurs, the City, as specified below, may take the following <br />action after providing of thirty (30) days written notice to the Developer and assignees <br />specified in writing of the Event of Default, but only if the Event of Default has not been <br />cured within said thirty (30) days or, if the Event of Default cannot be cured within thirty <br />(30) days, the Developer or its assigns does not provide assurances to the City reasonably <br />Legacy at Woods Edge Agreement 8 <br />12/17/04 <br />