4D - Final Plat of Keen Addition (continued), Berens

Home Browse Search

emergency vehicles, snowplows, and garbage trucks, as determined by the City Engineer in his sole but reasonable discretion. Until such approval is granted, no dwelling may be occupied on either a temporary or permanent basis, except that model homes may be occupied by sales personnel for marketing and related purposes. If the Developer is in default of this Agreement as hereinafter defined, in addition any other remedy provided by this Agreement, City may refuse to issue a zoning permit for any lot in the subdivision until Developer cures the default as provided herein. X. Park Dedication. A. The parties mutually recognize and agree that park dedication requirements as provided in the City Code shall be satisfied through a cash payment to the City in the amount of$3,210.00. XI. Insurance. A. The Developer will provide and maintain or cause to be maintained at all times during the process of constructing the Developer Improvements until one (1)year after acceptance of all Developer Improvements and, from time to time, at the request of the city, furnish proof of payment of premiums on: 1. Combined single limit general liability policy of$1,000,000 per occurrence, -� $2,000,000 aggregate. 2. Worker's compensation insurance, with statutory coverage. 3. Said insurance shall remain in place as long as any improvements constructed pursuant to this agreement remain private improvements. This provision shall survive the terms of this agreement. Further, the City shall be named as an additional insured under the general liability policy of the Developer. B. The Developer shall file a copy of evidence of the insurance coverage required herein with the City upon execution of this Agreement. The parties agree that proof of the above-described insurance shall be provided to the City before any construction pursuant to this Agreement has commenced. XII. Security for Cost of Developer Improvements. Developer shall, upon execution of this Agreement, provide City with cash, letter of credit, or performance bond, with the form of any non-cash surety to be satisfactory to the City in the sum of$ . The security shall be a guaranty to the City that the Developer Improvements will be timely completed to the City's satisfaction and in accordance with final plans and specifications as well as the terms of this Agreement. The security shall also provide a source of payment for the City for expenses incurred by the City, which the Developer is obligated to pay under this Agreement. The said cash,letter of credit, or performance bond shall be maintained continuously by the Developer until the Developer Improvements are completed pursuant to this Agreement and all applicable warranty and guarantee periods have expired. The said cash, letter of credit, or performance 6