2017/12/20 Council Agenda Packet

I Section 10. Inspection/Indemnity From Liens. 10.1 Inspection. Until the Certificate of Completion is recorded, City shall have the right, at all reasonable times and upon at least twenty-four(24)hours previous notice, to inspect the Property, including any construction work thereon, to determine compliance with the provisions of this Covenant. 10.2 Indemnity From Liens. In no event shall Developer,prior to recording of the Certificate of Completion, cause any lien to attach to any property owned by City in connection with any monetary obligation, including but not limited to mortgages, deeds of trust,mechanic's liens,attachment liens,judgment liens,execution liens,utility liens, security interests or encumbrances,unless Developer first obtains City's written approval thereto, which approval may be refused in the City's sole judgment. Developer shall indemnify and hold harmless City from and against all mechanics', materialmen's and laborers' liens and all costs, expenses and liabilities arising from construction of Improvements upon any property owned by City,except to the extent arising out of labor or materials contracted for by City. Nothing contained in this Agreement shall be construed as the consent or request of City, express or implied, for the performance of any labor or services or for the furnishing of any materials or equipment to the Project(or any part thereof). NOTICE IS HEREBY GIVEN THAT CITY WILL NOT BE LIABLE FOR ANY LABOR, SERVICES, MATERIALS OR EQUIPMENT FURNISHED OR TO BE FURNISHED TO DEVELOPER,OR ANYONE HOLDING AN INTEREST IN THE PROPERTY (OR ANY PART THEREOF) THROUGH OR UNDER DEVELOPER. Section 11. Insurance. The requirements of this Section 11 shall apply only until the Certificate of Completion is recorded. 11.1 Insurance Requirements. Developer shall maintain and keep in force insurance covering all aspects of the construction activity on the Project, including but not limited to the following requirements or, in the alternative, maintain such insurance as required by a Mortgagee. 11.1.1 Builders All Risk Comprehensive Coverage. Developer shall keep, or shall require its general contractor to keep, all Project components insured for Builders All Risk Comprehensive Coverage including fire and flood in an amount not less than 100%of the then full"Replacement Cost,"being the cost of replacing the Project components, and all fixtures, equipment,improvements and betterments thereto. 11.1.2 Commercial General Liability. Developer shall carry, and shall require its construction contractor to carry, Commercial General Liability insurance 11 41