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229446v1 <br />compliance with all terms of the Contract. A release of this Contract may be provided in the same <br />manner and subject to the same conditions as a Certificate of Completion provided there are no <br />outstanding or ongoing obligations of Developer under the terms of this Contract. The Developer <br />covenants with the City, its successors and assigns, that the Developer is well seized in fee title of the <br />property being final platted and/or has obtained consents to this Contract, in the form attached hereto, <br />from all parties who have an interest in the property; that there are no unrecorded interests in the <br />property being final platted; and that the Developer will indemnify and hold the City harmless for any <br />breach of the foregoing covenants. <br />I. Insurance. Developer and Contractor shall provide a copy of the Development Contract to their <br />insurance professional for verification that the certificate of insurance is in compliance with <br />the requirements of the Development Contract. Prior to execution of the final plat, Developer <br />and its general contractor shall furnish to the City a certificate of insurance showing proof of the <br />required insurance required under this Paragraph. Developer and its general contractor shall take out <br />and maintain or cause to be taken out and maintained until six (6) months after the City has accepted <br />the public improvements, such insurance as shall protect Developer and its general contractor and <br />the City for work covered by the Contract including workers’ compensation claims and property <br />damage, bodily and personal injury which may arise from operations under this Contract, whether <br />such operations are by Developer and its general contractor or anyone directly or indirectly employed <br />by either of them. The minimum amounts of insurance shall be as follows: <br />Commercial General Liability (or in combination with an umbrella policy) <br />$2,000,000 Each Occurrence <br /> $2,000,000 Products/Completed Operations Aggregate <br /> $2,000,000 Annual Aggregate <br />The following coverages shall be included: <br />Premises and Operations Bodily Injury and Property Damage <br />Personal and Advertising Injury <br />Blanket Contractual Liability <br />Products and Completed Operations Liability <br /> <br />Page 79 of 299