FAILURE TO MAINTAIN INSURANCE COVERAGE. If Developer, for any reason, fails to maintain insurance coverage, which is required pursuant to this Agreement, the same shall be deemed a material breach of contract. The City, at its sole option, may terminate this agreement and obtain damages from the Developer resulting from said breach. Alternatively, the City may purchase such required insurance coverage, and Developer shall reimburse the City for any premium costs advanced by the City for such insurance.
Appears in 5 contracts
Samples: Improvement Agreement, Improvement Agreement, Improvement Agreement
