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AUG 22 '95 14: 13 TONN OF SUN PRAIRIE 7"� .4/10 Di°1a./C 8. Insurance. A. The Developer shall require that all contracts betwweem t�,h eloper and contractors engaged for the purpose of constructin,; the irnprovernent_`',- '' .a provision requiring the contractor to carry insurance as specified herein, A cert&icai.e showing that the insurance policy is in farce must be filed with the Town at or prior to the commencement of construction. B. Unless otherwise provided by law,contractors shall maintain insurance in force in the following amounts: 1, Property damage,per accident: S1,000,000 2. Public liability-Bodily injury Single limit or equivalent Each accident: $1,000,000 3. Worker's Compensation: Statutory limits 4. Motor vehicle liability: $1,000,000 9. Dedication and Acceptance of Public Facilities. A. The Developer agrees that the work for road construction shall be inspected by the Town Engineer as described in this paragraph, The Engineer shall inspect the road when subgrade is prepared; after the aggregate base course is installed but before the binder course is laid;after the binder course has been laid; before the top course is laid;and,after completion of the entire road. Developer shall reimburse the'Town for all fees incurred by the Engineer to perform these inspections. B. Upon approval by the Town Engineer of the completed road,Developer agrees to-provide a permanent easement,by appropriate deed or plat notation,a I rod strip of real estate adjacent to the existing road,together with all other public improvements(culdesac). Said easement will be accepted by the Town if all necessary inspections,certifications and lien waivers are received. Said easement is to be recorded at the Register of Deeds Office by the Developer. 10. In order to secure performance of its obligation under this agreement, Developer agrees to provide the Town with security. "Security"shall be defined as a surety bond,irrevocable letter of credit,cat escrowed funds held in trust for the Town. The security shall be one hundred twCnty five percent(125%)of the cost of a21 construction required under this Agreement, A reasonable cost breakdown and security is to be provided to the Town within 60 days of the effective date of this agreement as provided below. In the event Developer fails to comply with any provision of this Agreement,the Town may,in its sole discretion,draw on the security to pay the Town's costs of engineering,legal fees and construction. The Town's disbursements of the security funds shall be without recourse by the Developer. Further,the provision of security does not relieve the Developer of its obligations hereunder. Developer hereby a