2024-63 Ordinance Authorizing a TIF Redevelopment Agreement between the City of Decatur and Merchant Street South, LLC

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EXECUTION COPY 2.7 Quality of Construction and Conformance to Federal, State and Local Requirements.All work with respect to the Projects shall conform to Applicable Law including, but not limited to, design standards, environmental codes and life safety codes. The Redeveloper shall cause the construction of the Projects to be commenced and to be prosecuted with due diligence and in good faith in accordance with the terms of this Agreement, and without delay and shall cause the Projects to be constructed in a good and workmanlike manner in accordance with the Construction Plans and the Final Site Plans. If the Projects are constructed in compliance with the Construction Plans as approved pursuant to Section 2.6 above, it will be deemed to be in conformance with Building Codes of the City. 2.8 Utilities. Except as otherwise provided in this Agreement, all arrangements for utilities must be made by the Redeveloper with the applicable utility company. The City makes no representations whatsoever with respect to the adequacy or availability of utilities with respect to the Projects or Properties; however, the City, if requested by the Redeveloper, shall make reasonable efforts to assist in obtaining utility rights, approvals and permits. 2.9 Liability Insurance Prior to Completion. Prior to commencement of construction of the 148 E. Main Project and 112 N. Merchant Project, the Redeveloper or the Redeveloper's contractor shall procure and deliver to the City, at the Redeveloper's or such contractor's cost and expense, and shall maintain in full force and effect until each and every obligation of Redeveloper contained herein has been fully paid, or performed, a policy or policies of comprehensive liability insurance and during any period of construction, contractor's liability insurance, structural work act insurance and workmen's compensation insurance, with liability coverage under the comprehensive liability insurance to be not less than One Million ($1,000,000) Dollars each occurrence and Two Million ($2,000,000.00) Dollars total, all such policies to be in such form and issued by such companies as shall be reasonably acceptable to the City to protect City and Redeveloper against any liability incidental to the use of or resulting from any accident occurring in or about the Projects or the improvements or the construction and improvement thereof. Each such policy shall name the City as coinsureds and shall contain an affirmative statement by the issuer that it will give written notice to the City at least thirty (30) days prior to any cancellation or amendment of its policy. 2.10 Lien Waivers.All contracts for construction of the Projects shall provide that all contractors and subcontractors shall furnish contractor's affidavits in the form provided by state statute and that waiver of liens be required for all payments made. 2.11 Rights of Inspection.During construction of the Projects, the City or its designee shall have the right at any time and from time to time to enter upon the Projects for the purposes of inspection. Inspection by the City of the Projects shall not be -6-