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5 Developer’s obligations under this Agreement are fulfilled, the Developer shall provide and maintain public liability and property damage insurance covering personal injury, including death, and claims for property damage which may arise. Limits for bodily injury or death shall not be less than $1,000,000 for one person and $2,000,000 for each occurrence. Limits for property damage shall not be less than $2,000,000 for each occurrence. The City shall be named as an additional named insured on said policy, and the Developer shall file a copy of the insurance coverage with the City prior to the commencement of the Required Improvements. The insurance policy obtained by the Developer is subject to City approval. In the event that the City is held liable to a third party by a court of competent jurisdiction for damages and the insurance obtained by Developer for any reason fails to cover the City, the Developer shall be liable under this Agreement for any and all costs incurred or damages claimed against the City. (c) This Development Agreement cannot be assigned or transferred without prior written approval of the City. (d) Any breach of the terms of this Agreement by the Developer shall be grounds for denial of the issuance of any building permit. (e) There is no intent to benefit any third parties and third parties shall have no recourse against the City under this Agreement. (f) The Developer shall reimburse the City for all costs incurred by the City in defense or enforcement of this Agreement due to actions or inactions of Developer including court costs and reasonable engineering and attorneys’ fees. (g) If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Agreement is for any reason held to be invalid by a court of competent jurisdiction, such decision shall not affect or void any of the other provisions of the Development Agreement. (h) It is agreed that the City has the right, privilege and authority as a condition precedent to the approval of the plans and specifications and approval of Final Plat, to prescribe design requirements for any Improvements within the Plat. (i) The provisions of this Section relating to approval, rejection and resubmission of corrected Construction Plans shall continue to apply until the Construction Plans have been approved by the City. Approval of the Construction Plans by the City shall not relieve the Developer of any obligation to comply with the terms and provisions of this Agreement or the provisions of applicable federal, State and local laws, ordinances and regulations, nor shall approval of the Construction Plans by the City be deemed to constitute a waiver of any Event of Default. The Construction Plans shall be deemed approved by the City unless rejected in writing within thirty (30) days after receipt from the Developer by the City with a statement of the City's reasons for such rejection.