Common use of Construction of Project; Insurance Clause in Contracts

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification by the Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Project. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations and a penal bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “All Risk” insurance for physical loss or damage. The contractor or the Redeveloper, as the case may be, shall furnish the Authority with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper Penal Bond. The Developer will acquire the project site by purchase from the Agency and construct a minimum 11,000 square foot commercial retail shopping center on the Premises. Construction on the project shall begin prior to the 3rd quarter of 2015 and shall be complete and ready for occupancy prior to January 1, 2016, pursuant to the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper Plan set forth on attached Exhibit C. The Developer shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper the Developer shall make reports in such detail and at such times as may be reasonably requested by the Authority Agency (not to exceed one report per month) as to the actual progress of Redeveloper the Developer with respect to construction of the Project. Promptly after completion by the Redeveloper Developer of the Project, the Redeveloper Developer shall furnish to the Authority Agency a Certificate certificate of Completioncompletion. The certification by the Redeveloper Developer shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper the Developer and its successors and assigns to construct the Project. As used herein, the term “"completion” " shall meant mean substantial completion of the Project. (b) . Any general contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and liability, completed operations and a penal bond as required by the Actautomobile liability. The Cityminimum acceptable limits of liability to be provided by such insurance are: bodily injury of $2 million per person or occurrence and property damage of $2 million per occurrence. The Agency, the Authority Developer, the City and the Redeveloper Agency shall be named as additional insuredinsured parties. Any contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “"All Risk” " insurance for physical loss or damage. Notwithstanding the foregoing, the Developer reserves the right to self-insure against the risks described herein. The contractor or the RedeveloperDeveloper, as the case may be, shall furnish the Authority Agency with a Certificate Certificate(s) of Insurance evidencing policies as required above. Such certificates shall specifically indicate that the public liability insurance includes all extensions of coverage required and shall state that the insurance companies shall give the Authority prior Agency and all other named insureds at least thirty (30) days' written notice in the event of cancellation of or material change in any of any the policies. The Developer shall be required to comply with the provisions of Section 18-2151 to the satisfaction of the policiesAgency.

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification by the Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Project. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations and a penal bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “All Risk” insurance for physical loss or damage. The contractor or the Redeveloper, as the case may be, shall furnish the Authority with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies. (c) Redeveloper shall pay, on execution hereof the sum of $1,000.00 to the City of Grand Island for administrative expenses related to payment of the tax increment revenue.

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification by the Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Project. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations and a penal bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insuredinsureds. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “All Risk” insurance for physical loss or damage. The contractor or the Redeveloper, as the case may be, shall furnish the Authority with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of each Phase of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification Completion (supported by such architect's or engineer's certificates as are required under the Redeveloper shall be a conclusive determination of satisfaction terms of the agreements and covenants contract documents) for such Phase, including each structure or element of infrastructure completed in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Projectsuch Phase. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and completed operations and a penal bond or bonds as required by the ActAct or as is otherwise required by law. The City, the Authority and the Redeveloper shall be named as additional insuredinsureds. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “'All Risk” " insurance for physical loss or damage. The contractor with respect to any specific contract or the Redeveloper shall also carry insurance on all stored materials. The contractor or the Redeveloper, as the case may be, shall furnish the Authority and the City with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper The Company will acquire the project site by purchase from the Agency and construct a minimum 8,000 square foot commercial retail shopping center on the Premises. Construction on the project shall begin prior to the 3rd quarter of 2014 and shall be complete and ready for occupancy prior to January 1, 2015, pursuant to the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper Plan set forth on attached Exhibit C. The Company shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper the Company shall make reports in such detail and at such times as may be reasonably requested by the Authority Agency (not to exceed one report per month) as to the actual progress of Redeveloper the Company with respect to construction of the Project. Promptly after completion by the Redeveloper Company of the Project, the Redeveloper Company shall furnish to the Authority Agency a Certificate certificate of Completioncompletion. The certification by the Redeveloper Company shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper the Company and its successors and assigns to construct the Project. As used herein, the term “"completion” " shall meant mean substantial completion of the Project. (b) . Any general contractor chosen by the Redeveloper Company or the Redeveloper Company itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and liability, completed operations and a penal bond as required by the Actautomobile liability. The Cityminimum acceptable limits of liability to be provided by such insurance are: bodily injury of $2 million per person or occurrence and property damage of $2 million per occurrence. The Agency, the Authority Company, the City and the Redeveloper Agency shall be named as additional insuredinsured parties. Any contractor chosen by the Redeveloper Company or the Redeveloper Company itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “"All Risk” " insurance for physical loss or damage. Notwithstanding the foregoing, the Company reserves the right to self-insure against the risks described herein. The contractor or the RedeveloperCompany, as the case may be, shall furnish the Authority Agency with a Certificate Certificate(s) of Insurance evidencing policies as required above. Such certificates shall specifically indicate that the public liability insurance includes all extensions of coverage required and shall state that the insurance companies shall give the Authority prior Agency and all other named insureds at least thirty (30) days' written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper Penal Bond. The Developer will acquire the project site by purchase from the Agency and construct an approximate 8,000 square foot commercial building on the Premises. Construction on the project shall begin prior to the 2nd quarter of 2021 and shall be complete and ready for occupancy prior to January 1, 2022, pursuant to the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper Plan set forth on attached Exhibit C. The Developer shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper the Developer shall make reports in such detail and at such times as may be reasonably requested by the Authority Agency (not to exceed one report per month) as to the actual progress of Redeveloper the Developer with respect to construction of the Project. Promptly after completion by the Redeveloper Developer of the Project, the Redeveloper Developer shall furnish to the Authority Agency a Certificate certificate of Completioncompletion. The certification by the Redeveloper Developer shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper the Developer and its successors and assigns to construct the Project. As used herein, the term “"completion” " shall meant mean substantial completion of the Project. (b) . Any general contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and liability, completed operations and automobile liability. The minimum acceptable limits of liability to be provided by such insurance are: bodily injury of $2 million per person or occurrence and property damage of $2 million per occurrence. The Agency, the Developer, the City and the Agency shall be named as additional insured parties. The Developer shall also obtain a penal bond Penal Bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “"All Risk” " insurance for physical loss or damage. Notwithstanding the foregoing, the Developer reserves the right to self-insure against the risks described herein. The contractor or the RedeveloperDeveloper, as the case may be, shall furnish the Authority Agency with a Certificate Certificate(s) of Insurance evidencing policies as required above. Such certificates shall specifically indicate that the public liability insurance includes all extensions of coverage required and shall state that the insurance companies shall give the Authority prior Agency and all other named insureds at least thirty (30) days' written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification by the Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Project. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations and a penal bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “All Risk” insurance for physical loss or damage. The contractor or the Redeveloper, as the case may be, shall furnish the Authority with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies. (c) Redeveloper shall pay, on execution hereof the sum of $1,000.00 to the City of Grand

Construction of Project; Insurance. (a) Redeveloper Penal Bond. The Developer will acquire the project site by purchase from the Agency and construct an approximate 6,300 square foot commercial building on the Premises. Construction on the project shall begin in the 2nd quarter of 2021 and shall be complete and ready for occupancy prior to January 1, 2022, pursuant to the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper Plan set forth on attached Exhibit C. The Developer shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper the Developer shall make reports in such detail and at such times as may be reasonably requested by the Authority Agency (not to exceed one report per month) as to the actual progress of Redeveloper the Developer with respect to construction of the Project. Promptly after completion by the Redeveloper Developer of the Project, the Redeveloper Developer shall furnish to the Authority Agency a Certificate certificate of Completioncompletion. The certification by the Redeveloper Developer shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper the Developer and its successors and assigns to construct the Project. As used herein, the term “"completion” " shall meant mean substantial completion of the Project. (b) . Any general contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and liability, completed operations and automobile liability. The minimum acceptable limits of liability to be provided by such insurance are: bodily injury of $2 million per person or occurrence and property damage of $2 million per occurrence. The Agency, the Developer, the City and the Agency shall be named as additional insured parties. The Developer shall also obtain a penal bond Penal Bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper Developer or the Redeveloper Developer itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “"All Risk” " insurance for physical loss or damage. Notwithstanding the foregoing, the Developer reserves the right to self-insure against the risks described herein. The contractor or the RedeveloperDeveloper, as the case may be, shall furnish the Authority Agency with a Certificate Certificate(s) of Insurance evidencing policies as required above. Such certificates shall specifically indicate that the public liability insurance includes all extensions of coverage required and shall state that the insurance companies shall give the Authority prior Agency and all other named insureds at least thirty (30) days' written notice in the event of cancellation of or material change in any of any of the policies.

Construction of Project; Insurance. (a) Redeveloper will complete the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Promptly after completion by the Redeveloper of the Project, the Redeveloper shall furnish to the Authority a Certificate of Completion. The certification by the Redeveloper shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper and its successors and assigns to construct the Project. As used herein, the term “completion” shall meant substantial completion of the Project. (b) Any general contractor chosen by the Redeveloper or the Redeveloper itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ general liability and completed operations and a penal bond as required by the Act. The City, the Authority and the Redeveloper shall be named as additional insured. Any contractor chosen by the Redeveloper or the Redeveloper itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “All Risk” insurance for physical loss or damage. The contractor or the Redeveloper, as the case may be, shall furnish the Authority with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies. (c) Redeveloper shall pay, on execution hereof the sum of $1,000 to the City of Grand Island for administrative expenses related to payment of the tax increment revenue.

Construction of Project; Insurance. (a) Redeveloper The Company will acquire the project site by purchase from the Agency and construct a minimum 9,700 square foot commercial retail shopping center on the Premises. Construction on the project shall begin prior to the 4th quarter of 2013 and shall be complete and ready for occupancy prior to August 1, 2014, pursuant to the Project and install all infrastructure, improvements, buildings, fixtures, equipment and furnishings necessary to operate the Project. Redeveloper Plan set forth on attached Exhibit C. The Company shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper the Company shall make reports in such detail and at such times as may be reasonably requested by the Authority Agency (not to exceed one report per month) as to the actual progress of Redeveloper the Company with respect to construction of the Project. Promptly after completion by the Redeveloper Company of the Project, the Redeveloper Company shall furnish to the Authority Agency a Certificate certificate of Completioncompletion. The certification by the Redeveloper Company shall be a conclusive determination of satisfaction of the agreements and covenants in this Redevelopment Contract with respect to the obligations of Redeveloper the Company and its successors and assigns to construct the Project. As used herein, the term “"completion” " shall meant mean substantial completion of the Project. (b) . Any general contractor chosen by the Redeveloper Company or the Redeveloper Company itself shall be required to obtain and keep in force at all times until completion of construction, policies of insurance including coverage for contractors’ ' general liability and liability, completed operations and a penal bond as required by the Actautomobile liability. The Cityminimum acceptable limits of liability to be provided by such insurance are: bodily injury of $2 million per person or occurrence and property damage of $2 million per occurrence. The Agency, the Authority Company, the City and the Redeveloper Agency shall be named as additional insuredinsured parties. Any contractor chosen by the Redeveloper Company or the Redeveloper Company itself, as an owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include “"All Risk” " insurance for physical loss or damage. Notwithstanding the foregoing, the Company reserves the right to self-insure against the risks described herein. The contractor or the RedeveloperCompany, as the case may be, shall furnish the Authority Agency with a Certificate Certificate(s) of Insurance evidencing policies as required above. Such certificates shall specifically indicate that the public liability insurance includes all extensions of coverage required and shall state that the insurance companies shall give the Authority prior Agency and all other named insureds at least thirty (30) days' written notice in the event of cancellation of or material change in any of any of the policies.