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Book: 45099 Page: 334 <br /> 2.11 Insurance <br /> During the construction of the Project as certified by the City,the Redeveloper shall keep <br /> in force at all times builder's completed value risk insurance,in non-reporting form,against <br /> all risks of physical loss, including collapse, covering the total value of work performed <br /> and equipment, supplies and materials furnished for the Project. Such insurance policies <br /> shall be issued by companies reasonably satisfactory to the City, and shall name the City <br /> as an additional insured. All such policies shall contain a provision that the same will not <br /> be cancelled or modified without a thirty(30)day written notice to the City. <br /> 2.12 Lien Waivers. <br /> All contracts for construction of the Project shall provide that all contractors and <br /> subcontractors shall furnish contractor's affidavits in the form provided by state statute and <br /> that waiver of liens be required for all payments made. <br /> 2.13 Rights of Inspection. <br /> During construction of the Project,the City or its designee shall have the right at any time <br /> and from time to time to enter upon the Project for the purposes of inspection. Inspection <br /> by the City of the Project shall not be construed as a representation by the City that there <br /> has been compliance with the Construction Plans or any building or life safety codes <br /> adopted by the City;or that the Project will be or is free of faulty materials or workmanship, <br /> or a waiver of any right the City or any other party may have against the Redeveloper or <br /> any other party for noncompliance with the Construction Plans,Preliminary Plans,building <br /> or life safety codes or any other ordinances of the City or the terms of this Agreement. <br /> ARTICLE III: CITY OBLIGATIONS <br /> 3.1 Public Investment. <br /> The City shall provide the Public Investment pursuant to Article IV below. <br /> 3.2 Zoning. <br /> The Project currently has a zoning classification which will permit the use of the Project <br /> as intended by this Agreement. <br /> 3.3 Easements. <br /> The City agrees to grant such temporary easements to the Redeveloper as deemed <br /> necessary by the City for the construction and completion of the Project <br /> ARTICLE IV:PUBLIC INVESTMENT <br /> 4.1 Public Investment. <br /> The City will provide a reimbursement for Project Costs to be paid from Project <br /> Revenues for each calendar year received by the City from the Project and the Project <br /> Site as set forth below: <br /> (A) Commencing in the year following the year in which the Redeveloper shall open <br /> Liaison Home Automation,LLC on the project site and continuing for five(5)years after <br /> Redeveloper opens such business on the property,the Redeveloper shall receive an amount <br /> equal to fifty(50)Percent of the Project Revenues actually received by the City. Payments <br /> City of Decatur/LIAISON HOME AUTOMATION,LLC 8 <br />