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Improvements to be constructed. It is understood that the full amount of the letter of credit shall
<br />remain available to the County. If cash is posted, a Cash Deposit and Escrow Agreement will
<br />be entered into between the posting party and the County.
<br />4. Developer shall procure and keep in effect comprehensive general
<br />liability insurance in the limits of $2,000,000.00 each occurrence for bodily injury or death and
<br />$2,000,000.00 property damage each occurrence, covering all obligations of Developer to
<br />indemnify the Florida East Coast Railway, LLC by Contractual Assumed Liability Endorsement.
<br />Alternatively, Developer may procure and keep in effect until the end of the 1 -year warranty period,
<br />Railroad Protective Liability Policies insuring the Florida East Coast Railway, LLC directly
<br />as insured against losses and damages with the limits specified in this paragraph. All such
<br />insurance, directly or indirectly for the benefit of the Florida East Coast Railway, LLC, shall be in
<br />a form satisfactory to the Florida East Coast Railway, LLC's Manager of Insurance and issued by
<br />a casualty company/insurance company authorized to do business in the State of Florida that has
<br />a "Best's" rating of A or A+ and a financial category of Class XII or higher. The Developer shall
<br />also, at its cost and expenses, maintain a Workman's Compensation Insurance Policy as required
<br />in the State of Florida. All such insurance, directly or indirectly for the benefit of the Florida East
<br />Coast Railway, LLC, shall be in a form satisfactory to the Florida East Coast Railway, LLC's
<br />Manager of Insurance and issued by a casualty company/insurance company authorized to do
<br />business in the State of Florida that has a "Best's" rating of A or A+ and a financial category
<br />of Class XII or higher. Indian River County shall be listed as an additional insured under this
<br />policy. Developer, Developer's contractors or Developer's subcontractors shall not begin
<br />construction, installation or any other work associated with the Improvements on Florida East
<br />Coast Railway, LLC property until the Developer presents satisfactory proof of meeting these
<br />requirements to the County.
<br />Developer agrees that it shall and will at all times hereafter indemnify, defend
<br />and save harmless the Florida East Coast Railway, LLC from and against all judgements, and
<br />all loss, claims, damages, costs, charges, and expenses ("Costs") which it may suffer, sustain
<br />or in anywise be subjected to on account of or occasioned by the operations of the Developer,
<br />or any of Developer's contractors or Developer's subcontractors, or some or all of them,
<br />whether directly or indirectly under, or pursuant to, this Contract, including any such Costs
<br />arising from the death, bodily injury or personal injury of, as follows:
<br />Of any person, including without limitation upon the generality of the foregoing
<br />description, employees and officers of Florida East Coast Railway, LLC, employees and officers
<br />or materialmen, employees and officers of Developer, employees and officers or all Developer
<br />subcontractors, and from loss, damage, injury and loss of use of any real or personal property
<br />(a) in which Florida East Coast Railway, LLC has any ownership interest, and (b) personal
<br />property in the custody of Florida East Coast Railway, LLC under any transportation contracts,
<br />including without limitation upon the generality of the two foregoing enumerations, all railroad
<br />equipment commonly described as rolling stock and the contents of the same.
<br />Developer agrees to indemnify, hold harmless, and defend the County against any
<br />and all claims, damages, losses, and expenses, including attorney's fees, for property damage,
<br />personal or bodily injury, or loss of life, arising from the negligent acts or omissions of the
<br />Developer, its officers, employees, agents, or contractors, subcontractors, laborers, or suppliers,
<br />relating to the construction of the Improvements.
<br />KI
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