Deed - Westerly Terminus of Davis Street - File 1-068, 1980

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Developer, issued by a Surety Company authorized to do business in the State of California, and in a form approved by the City, securing the faithful performance of Contractor of the design and construction of public improvements required, in the penal sum of 100% of the work performed. 8. Labor and Materials Bond. Concurrently with the execution hereof, Developer shall also obtain a good and sufficient surety bond issued by a surety company authorized to do business in the State of California, and in a form approved by City, securing payment to the contractor, his subcontractors and the persons renting equipment or furnishing labor or materials to them for improvement in the penal sum of 100% of the work performed. 9. Public Liability Insurance. The Developer and/or its contractor shall take out and maintain in the name of the City during the life of the contract, such Public Liability Insurance as shall protect himself, the City, its officials, officers, directors, employees and agents from :laims which may arise from operations under the contract, whether such operations be by himself, by the City, its officials, officers, directors, employees and agents, any subcontractors, or by anyone directly or indirectly employed by e;.her of tiled,. This .�iphi1i�y insurance shall include, but shall not be limited to, protection against claims arising from bodily and personal injury and damage to property, resulting from the Developer's, City's, contractor's or subcontractor's operations, use of owned or nonowned automobiles, products, and completed operations. The amounts of insurance shall not be less than the following: Single Limit Coverage applying to Bodily and Personal Injury Liability and Property Damage: $1,000,000.00 The following endorsements must be attached to the policy: (1) If the insurance policy covers on an "accident" basis, it must be changed to "occurrence". (2) The policy must cover Personal Injury as well as bodily injury.