2022-05-25 CC Packet - Laserfiche WebLink

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Where neither the City or Owner can complete a requirement of this Agreement due to supply chain disruption or force majeure, such an event shall not constitute an actionable default or breach under this Agreement. The party claiming relief due to a supply chain disruption or force majeure shall give notice of this intent. In such an event, the applicable deadlines, provisions for holding Security, and provisions to cure a default shall be extended until such time as supply chain disruption or force majeure no longer exists, and thereafter for a reasonable period affording the Owner time to cure the default and the City to secure its remedies under this Agreement. 24. INSURANCE. Owner shall take out and maintain or cause to be taken out and maintained until six (6) months after the City has accepted the Public Improvements, public liability and property damage insurance covering personal injury, including death, and claims for property damage which may arise out of Owner’s work or the work of its subcontractors or by one directly or indirectly employed by any of them. Limits for bodily injury and death shall be not less than $500,000 for one person and $1,000,000 for each occurrence; limits for property damage shall be not less than $200,000.00 for each occurrence; or a combination single limit policy of $1,000,000 or more. The City shall be named as an additional insured on the policy, and the Owner shall file with the City a certificate evidencing coverage prior to the City approving this Development Agreement. The certificate shall provide that the City must be given ten (10) days advance written notice of the cancellation of the insurance. The certificate of insurance shall substantially comply with the form attached hereto as Exhibit C. 25. MISCELLANEOUS. A.The term “Agreement” as used herein, refers to the original terms and conditions of this Agreement between the Parties and any subsequent amendments or codicils to same. B.Third parties shall have no recourse against the City under this Agreement. DEVELOPMENT & SUBDIVISION AGREEMENT CENTERVILLE AND BANJO Draft Version 05/20/2022v3 – for Council Packet- Page 15