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Redwood City, or any agency or department thereof. It is specifically <br />acknowledged that the proposed Development requires Agency, and may <br />require the City, to make certain findings in their sole discretion and judgment. <br />The parties acknowledge that one or more of the conditions for Developers' <br />proposed Development may fail to be met as a result of subsequent studies, <br />reviews and proceedings involving the exercise of discretion by Agency, the City <br />or any agency or department thereof. This Agreement does not constitute a <br />disposition of property or exercise of control over property by Agency or the City <br />and does not require a public hearing. Execution of this Agreement by Agency <br />constitutes solely an agreement to enter into a period of exclusive negotiations <br />according to the terms hereof, reserving final discretion and approval by Agency <br />as to any DDA and all proceedings and decisions in connection therewith. <br /> <br /> b. Developers. By execution of this Agreement, Developers do not <br />relinquish any rights to participate in any project within the Redwood City <br />Redevelopment Project No. 2. <br /> <br /> 9. INSURANCE. Developers shall secure, carry and maintain during the <br />Negotiation Period, at Developers' sole expense, Workers' Compensation <br />insurance as required by law, and public liability insurance in a combined single <br />limit amount of not less than One Million Dollars ($1,000,000) per person or <br />occurrence, for personal injury or death and for property damage, which <br />insurance shall name, or by additional insured endorsement include, Agency, its <br /> <br />governing Board of Directors, the City of Redwood City, its governing Council, <br />ERN-O02 <br /> <br />F:Sh\Sh~Rw\ComDev 6 <br />DES: 5/17/99R <br />DES:rage 5/18/99R <br /> <br /> <br />