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Lakeland Hills CITY COPY Development Agreement Revised July 7, 1997 Road and east along Peltier Lake Drive. The City of Centerville reserves the right to use the fee at any time in the future for this project, and is under no obligation to complete the project within any time constraint. Q. 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 him. 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 any one person in any one accident; and a limit of liability of not less than $1,000,000 for any such damage sustained by two or more persons in any one accident. Insurance shall be written with a limit of liability of not less than $300,000 for all property damage sustained by one person in any one accident, and a limit of liability of not less than $600,000 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 be in full force and effect during the life of this contract. DEVELOPER CITY OF CENTERVILLE Royal Oaks Realty, Inc. By: By: Mayor ATTEST: By: City Clerk 260 /083- 1904.feb Page 10