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deposit to an escrow account administered by a local bank designated by the City may be <br /> acceptable. <br /> E. Liability Insurance. The developer constructing the facility shall maintain a <br /> liability insurance policy in the amount of five hundred thousand dollars per individual, one <br /> million dollars per occurrence, and five hundred thousand dollars property damage, which <br /> small name the City as an additional insured and which shall protect the City from any <br /> liability up to those amounts for any accident, negligence, failure of the facility, or any other <br /> liability whatsoever, relating to the construction or maintenance of the facility. Said liability <br /> policy shall be maintained for the duration of the facility by the owner of the facility, <br /> provided that in the case of facilities assumed by the City for maintenance pursuant to <br /> Section 8 of this ordinance, said liability policy shall be terminated when City Council <br /> accepts the facility and City maintenance responsibility commences. <br /> SECTION 8: CITY ASSUMPTION OF OPERATION AND MAINTENANCE <br /> The City may assume the operation and maintenance of retention/detention or other <br /> drainage treatment/abatement facilities after the expiration of the two (2) year operation and <br /> maintenance period in connection with the subdivision of land if: <br /> A. All of the requirements of Section 7 of this ordinance have been fully <br /> complied with; and <br /> B. The facilities have been inspected and accepted by the Utility Department <br /> after two (2) years of operation in accordance with the Procedures Manual; and <br /> C. All necessary easements entitling the City to properly maintain the facility <br /> have been conveyed to the City and recorded with the Snohomish County Auditor; and <br /> D. The warranty bond required in Section 7(d) of this ordinance has been <br /> extended for one year, covering the City's first year of operation and maintenance; and <br /> E. The developer has supplied to the City an accounting of capital, construction, <br /> and operation and maintenance expenses or other items, for the drainage facilities up to the <br /> end of the two year period. <br /> In the event that the City elects not to assume the operation and maintenance <br /> responsibility for the facilities, it will be the responsibility of the developer to make <br /> C SI'AGORD:STORM.ORD(LM 9/27/96) <br /> 20 <br />