2002-06-26 CC Packet - Laserfiche WebLink

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9. Park Dedication. The parties mutually recognize and agree that park dedications requirements as provided in the City Code shall be satisfied by cash payment of $20,000 calculated at $2,000 per lot multiplied by 10 lots. In addition, the parties agree that Developer shall make a contnbution of$ll,OOO to the City in lieu of constructing a trail per existing trail standards. . 10. Storm Water Fees. The storm water fee shall be paid by the Developer prior to approval of the final plat. This fee is $4,613, based on a charge of $.01546 per square foot of6.85 acres of platted area. 11. Liability Insurance Requirement. The Developer shall provide to the City, at the Developer's expense, general public liability and property damage insurance including vehicle coverage protecting the City and the Developer from all claims for personal injury, including death, and all claims for construction of or damage to property, arising out of or in connection with any operations under these contract documents, whether such operations be by the Developer, its contractor, or by any subcontractor, or anyone directly or indirectly employed by the contractor or by a subcontractor under it. Insurance shall be written with a limit of liability of not less than $600,000 for all damages arising out of bodily injury including death, at any time resulting therefrom, sustained by anyone person in anyone accident; and a limit of liability of not less than $1,000,000 for any such damage sustained by two or more persons in anyone accident. IiIsurance shall be written with a limit of liability of not less than $300,000 for all property damage sustained by one person in anyone accident, and a limit of liability of not less than $700,000 for any such damage sustained by two or more persons in any one accident. The insurance policies shall accompany the contract for its execution by the Developer and the City of Centerville. The above insurance policies shall remain in full force and effect at all times during the process of constructing all improvements set forth herein, and until six (6) months after city acceptance of the Private Improvements and completion of the Street and Utility Improvements. The City, City Engineer, and Developer's engineer shall be an additional named insured in any such policy or policies. IN WITNESS WHEREOF, City and Developer have signed this Development Agreement the day and year first written above. CITY: DEVELOPER: CITY OF CENTERVILLE * By: By: Mayor * Its: President 8