The developer agrees to indemnify and save harmless the Municipality against and from any and all loss, cost, damage, liability and expense on account of damage to property of, or injury to or death of, the parties hereto or third person, caused by, growing out of or in any way whatsoever attributable to the construction of such improvements and the use of a street delineated on the subdivision plat during the construction. The developer further agrees, but without limiting its liability to indemnify the Municipality to carry liability insurance contracts with a reliable insurance company covering the period of construction in the sum of five hundred thousand dollars ($500,000) to one million dollars ($1,000,000) for injury to or death of persons and in the sum of five hundred thousand dollars ($500,000) to one million dollars ($1,000,000) for damage to or destruction of property, which insurance contracts shall include the Municipality as a named insured. The developer agrees to maintain on file with the Municipality during the period of construction, certificates or memoranda of insurance evidencing that such insurance contracts are in force.
(Ord. 2703. Passed 3-11-93.)