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8. Assignment and Assumption <br /> A Assignment and Assumption of Contracts and Warranties Upon completion of the <br /> Park Improvements, MidPen will assign and the City will assume all rights and <br /> warranties under the MidPen contract with L&D Construction This assignment shall <br /> include a one year maintenance bond provided by L&D Construction for the Park <br /> Improvements The assignment and assumption shall not include any of MidPen's <br /> obligations under such contract with L&D Construction and MidPen will obtain the <br /> acknowledgement from L&D Construction that the obligations under the contract <br /> have been satisfied as of the date of the assignment and assumption <br /> B Assignment /Acceptance/Release of Liabilities and Responsibilities Upon <br /> completion of the Park Improvements, MidPen will assign and the City will accept <br /> ownership of the Park Improvements By this assignment and acceptance the City <br /> shall agree on behalf of itself and all successors and assigns to release MidPen and its <br /> related and affiliated entities and their insurers (but not L&D Construction and its <br /> subcontractors and their respective insurers) from all responsibility and liability <br /> associated with the Park Improvements <br /> C Assignment and Acceptance Agreement To accomplish the terms of this section The <br /> City and MidPen will execute an assignment and acceptance agreement using the <br /> form of agreement attached as Exhibit E which will be acknowledged by the <br /> applicable subcontractor <br /> 9 Insurance During the term of this Agreement, MidPen and L&D Construction shall <br /> maintain in full force and effect at its own cost and expense the following insurance <br /> coverage, which are minimums only and if MidPen's or L&D Construction's coverage is <br /> greater, those greater amounts shall apply <br /> A General Liability and Bodily Injury Insurance A commercial general liability <br /> insurance for at least $1,000,000 combined limit for bodily injury and property <br /> damage and provide that the City, its officers, employees and agents are named <br /> additional insureds under the policy as evidenced by an additional insured <br /> endorsement satisfactory to the City Attorney The policy shall state in writing either <br /> on the Certificate of Insurance or attached rider thereof that this insurance will <br /> operate as primary insurance for work performed by MidPen, L&D Construction, <br /> and its subcontractors, and that no other insurance effected by City or other named <br /> insured will be called on to cover a loss covered thereunder <br /> B Automobile Liability Insurance Automobile liability insurance in an amount not less <br /> than $1,000,000 per person/per occurrence <br /> C Workers' Compensation Insurance Workers' Compensation Insurance for all of <br /> MidPen's and L&D Construction's employees, all in strict compliance with State <br /> laws, and to protect the City from any and all claims thereunder, including waiver of <br /> subrogation <br /> Page 3 of 6 <br />