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a. Notwithstanding the foregoing, neither Developer, nor any of its partners, <br />shall be personally liable for any indemnification obligation hereunder which would result as the <br />repayment of principal and /or interest under the Loan. <br />18.3 Reimbursement of City. Developer shall reimburse City immediately upon <br />written demand for all costs reasonably incurred by City (including the reasonable fees and <br />expenses of attorneys, accountants, appraisers and other consultants, whether the same are <br />independent contractors or employees of City) in connection with the enforcement of the Loan <br />Documents and all related matters including all claims, demands, causes of action, liabilities, <br />losses, commissions and other costs against which City is indemnified under the Loan <br />Documents. Such reimbursement obligations shall bear interest from the date occurring twenty <br />(20) days after City gives written demand to Developer and shall be secured by the City Deed of <br />Trust. Such reimbursement obligations shall survive the cancellation of the Loan Note, release <br />and reconveyance of the City Deed of Trust, issuance of a Certificate of Completion, and <br />termination of this Agreement <br />19. INSURANCE, CASUALTY AND CONDEMNATION <br />19.1 Policies Required. While any obligation of Developer under the Loan <br />Documents remains outstanding, Developer shall maintain at Developer's sole expense, with <br />insurers either (i) admitted in California or (ii) are not admitted to California but have an A.M. <br />Best Rating of "A" or above and reasonably approved by the City, the following policies of <br />insurance in form and substance reasonably satisfactory to the City Attorney: <br />a. worker's compensation insurance to extent Developer has employees and <br />any other insurance required by <br />law in connection with the construction; <br />b. prior to commencement and following completion of the construction, fire <br />and hazard "all risk" insurance covering 100% of the replacement cost of the Improvements in <br />the event of fire, lightning, windstorm, vandalism, malicious mischief and all other risks <br />normally covered by "all risk" coverage policies in the area where the Property is located <br />(including loss by flood if the Property is in an area designated as subject to the danger of flood); <br />C. upon commencement of the construction and at all times prior to <br />completion of the construction, builder's risk -all risk insurance covering 100% of the <br />replacement cost of all Improvements (including offsite materials) during the course of <br />construction in the event of fire, lightning, windstorm, vandalism, earthquake, malicious <br />mischief and all other risks normally covered by "all risk" coverage policies in the area where the <br />Property is located (including loss by flood if the Property is in au area designated as subject to <br />the danger of flood); <br />d. public liability insurance in amounts reasonably required by City <br />from time to time, and in no event less than $1,000,000 for "single occurrence;" <br />C. property damage insurance in amounts reasonably required by the <br />City from time to time, and in no event less than $1,000,000; and <br />32 <br />1076 \53 \1389382.1 <br />