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3.12.2 Use of Funds. The Broadway Roadway Configuration Contribution shall be used <br /> to fund City's evaluation of potential roadway configuration changes on Broadway. <br /> 3.12.3 No Additional Contributions to Evaluation of Chan�es to City Roadways and <br /> Intersections. Except as required by this Section 3.12 or to the extent the need to further evaluate <br /> roadway or intersection configurations is triggered by project changes initiated by Developer, <br /> City shall not require Developer to make any additional contributions to feasibility studies, <br /> environmental review under the California Environmental Quality Act, or any other City <br /> evaluation of potential changes to the roadway configurations for Broadway or Bay Road, <br /> pedestrian crossings on Broadway or Bay Road, or alternatives for offsite intersection <br /> improvements (collectively "City Review of Roadway Changes"). <br /> 3.12.4 No Delay in Issuance of PC Permits. City shall not delay issuance of any PC <br /> Permit for the Property on the ground that City Review of Roadway Changes has not been <br /> completed. <br /> ARTICLE 4 INSURANCE,INDEMNITY AND COOPERATION IN THE EVENT OF <br /> A LEGAL CHALLENGE <br /> 4.1 Insurance Requirements. In connection with construction of replacement buildings and <br /> Net New Development on the Property, Developer shall procure and maintain, or cause its <br /> contractor(s) to procure and maintain a commercial general liability policy in an amount not less <br /> than Five Million Dollars ($5,000,000) combined single limit, including contractual liability <br /> together with a comprehensive automobile liability policy in the amount of Three Million <br /> Dollars ($3,000,000), combined single limit. Such policy or policies shall be written on an <br /> occurrence form, so long as such form of policy is then commonly available in the commercial <br /> insurance marketplace. Developer's insurance shall be placed with insurers with a current A.M. <br /> Best's rating of no less than A-:VII or a rating otherwise approved by the City in its sole <br /> discretion. Developer shall furnish at City's request appropriate certificate(s) of insurance <br /> evidencing the insurance coverage required by Developer hereunder, and City Parties shall be <br /> named as additional insured parties under the policies required hereunder. The certificate of <br /> insurance shall contain a statement of obligation on the part of the carrier to notify City of any <br /> material change, cancellation or termination of the coverage at least thirty (30) days in advance <br /> of the effective date of any such material change, cancellation or termination (ten (10) days <br /> advance notice in the case of cancellation for nonpayment of premiums) where the insurance <br /> carrier provides such notice to the Developer. Coverage provided hereunder by Developer shall <br /> be primary insurance and shall not be contributing with any insurance, self-insurance or joint <br /> self-insurance maintained by City, and the policy shall contain such an endorsement. The <br /> insurance policy or the endorsement shall contain a waiver of subrogation for the benefit of City. <br /> 4.2 City of Redwood Cit_y Business License. Developer, at its expense, shall obtain and <br /> maintain a Redwood City business license at all times during the Term, and shall include a <br /> provision in all general contractor agreements far the Project requiring each such general <br /> contractor to obtain and maintain a Redwood City business license during performance of the <br /> work of construction. <br /> 26 <br /> ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT <br /> REV: 08-14-13 PT <br />