Agmt01 Pacific Shores Develop. - Laserfiche WebLink

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occurrence, and property damage limits of not less than $1,000,000 arising eut of any one occurrence. The policies mentioned herein shall contain a provision that City shall receive an unconditional notice in writing thirty (30) days in advance of an insurer's intention to cancel or materially to change the terms of said policies given to City. If such insurance covers Owner, other entity, or person(s) in addition to the City of Redwood City, such policy shall contain the standard form of cross liability or severability of interest endorsement. Such insurance shall also specifically insure any contractual liability assumed by Owner under the terms of this Agreement, including, but not limited to, the provisions of paragraph 1 above. 5. Ownership of Improvements. It is agreed that title and ownership of all Improvements constructed for the benefit of City and Owner hereunder by Owner shall vest absolutely in City and Owner respectively upon completion and acceptance of such Improvements by City. 6. Work Subject to Approval. All work provided for in this Agreement and more specifically described in the plans and specifications herein referenced shall be subject to the approval of, and acceptance by, the City Engineer, Engineering and Construction before the release of any security required herein. Reference is hereby made to (a) those certain revised specifications entitled, "Engineering Standards of the City of Redwood City", adopted January 5, 1998, and (b) those certain plans on file in the office of the City Engineer, Engineering and Construction entitled, "Construction Drawings for Pacific Shores Center Lot 5," for a more particular description of the work and Improvements generally described in this Agreement. Said plans and specifications referenced in this paragraph are hereby incorporated herein and made a Agmt-4-68 5 F:\sh\s h\Redwood\Cou ncil FXS:djk 03/26/01