The developer shall agree to indemnify and save harmless the City against and from any and all loss, cost, damage, liability and expense on account of damage to property of the City or injury to or death of any of its employees, agents or representatives or any third person, caused by, growing out of or in any way whatsoever attributable to the construction of the improvements and the use of the street delineated on the subdivision plat during construction. The developer shall further agree, but without limiting its liability, to indemnify the City, to carry liability insurance contracts with any insurance company or companies acceptable to the Law Director during the period of the construction in the sum of Three Hundred Thousand Dollars ($300,000) to Five Hundred Thousand Dollars ($500,000) for injury to or death of persons, and in the sum of One Hundred Thousand Dollars ($100,000) for damage to or destruction of property, which insurance contracts shall include the City as a named insured. The developer shall agree to maintain on file with the City during the period of such construction, certificates or memoranda of insurance evidencing that the insurance contracts are in force.
(Ord. 58-73. Passed 7-23-73).