Agmt02 Pacific Shores Developme - Laserfiche WebLink

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contractors, subcontractors, licensees, and assignees of PSD's maintenance obligations hereunder or by PSD's negligent failure to perform any of the same. 3. Termination of Agreement. City may terminate this Agreement at any time by providing for the establishment of a District and assumption by the District of maintenance obligations with respect to the Landscaping Improvements. In such case, this Agreement shall terminate on that date when the District assumes the maintenance obligations. This Agreement may be terminated by PSD upon one year's advance written notice from PSD, in which case PSD's obligations hereunder shall terminate upon the earlier of formation of the District or that date which is one year after the delivery of written notice to City requesting termination. 4. Assignment. PSD shall have the right to assign, in whole or in part, its rights and obligations under this Agreement to PSD's successor in title to the Property or its designated successor Declarant or to the Association under the recorded Declaration of Covenants, Conditions, Restrictions, Easement and Charges (as those terms are defined therein) on the Property, at which time PSD shall be released from its obligations hereunder. 5. Default. The failure to maintain the landscaping according to the Engineering Standards set by the Engineering and Construction Division of the Community Development Services Department will constitute an event of default. Upon such event of default, City shall provide written notice to PSD. Upon receipt of the written notice, PSD shall have thirty (30) days to remedy such event of default (or such longer period of time as may reasonably be required, provided that PSD shall commence to remedy such default within such thirty (30) day period and thereafter diligently prosecute such remedy to completion). If PSD fails to remedy the event of default within the prescribed time period, City shall have the right to do all work necessary to remedy the event of default and charge PSD actual costs incurred by City for such work. PSD waives the right to dispute such amounts charged by City. 6. Insurance. PSD shall acquire and maintain or cause its maintenance contractor, if any, to maintain Workers' Compensation, employer's liability, commercial general liability and, if required, owned and non-owned and hired automobile liability, and professional liability insurance coverage, relating to PSD's services to be performed hereunder. The minimum amounts of coverage corresponding to the aforesaid categories of insurance per insurable event, shall be as follows: Insurance Category Minimum Limits -- Workers' Compensation Statutory minimum -- Employer's Liability $1,000,000 per accident for bodily injury or disease -- Commercial General Liability, $1,000,000 per occurrence and bodily injury, personal injury $2,000,000 aggregate for property damage