Laserfiche WebLink
city shall be in writing, in recordable form, and on the standard <br />easement form of the City or on such other terms and conditions as <br />the City shall determine, including dedication of permanent <br />easements on the final plat drawings. <br />(7) Insurance. The City will cause each person <br />who constructs and installs any Plan B Improvements to furnish the <br />City with evidence of complete insurance coverage (including <br />Workmen's Compensation, liability and property damage) as is <br />required on all City contracted construction jobs as determined by <br />the general specifications now in use. <br />5. Plan A Construction Secnirity. <br />A. Pcrforaance Bond or Letter of <br />Concurrently with the execution of this agreement by the <br />Subdivider, Subdivider will furnish to, and at all times thereafter <br />shall maintain with, the City a satisfactory and sufficient <br />performance and payment bond required by Minnesota Statutes, <br />Section 574.26 (1967) for public developers in the amount of at <br />least 150% (110%?) of the total estimated cost of Plan A <br />Improvements as determined in paragraph 3 above, with a corporate <br />surety satisfactory to the City, and naming the City as obligee <br />thereunder. Included among the obligations of the surety under <br />such bond shall be that the Subdivider shall fully and faithfully <br />discharge Subdivider's obligations with respect to the Plan A <br />Improvements during the installation and construction period and <br />that all persons doing work or furnishing skills, tools, machinery. <br />-11-