05-24-07 Meeting of the La Porte Redevelopment Authority minutes

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Increment attributable to the Property and the denominator of which is the total current Tax Increment. (J) The La Porte Authority shall provide to Developer, upon the written request of Developer, and on the earliest date such information is available after the date of such request, certified copies of all statements of revenue attributable to the Developer's portion of the Project and the source of such revenue of the La Porte Zone and of the La Porte Authority the intended use of which is to verify the availability of funds for payment of the Project Costs or Developer Advances, if applicable, under this Section. (K) The La Porte Zone and the La Porte Authority shall use commercially reasonable efforts to cause each Taxing Unit to collect all ad valorem taxes due on property located within the La Porte Zone and shall use commercially reasonable efforts to cause such Taxing Units to deposit all tax increments due with the City for transfer to the Tax Increment Revenue Fund pursuant to the La Porte Agreement. ARTICLE 7 INSURANCE: RELEASE ( 7.1 Insurance. With no intent to limit any contractor's liability or obligation for indemnification, the Developer shall require that each contractor providing work or service on the Public Improvements provide and maintain certain insurance in full force and effect at all times during the construction of the Public Improvements and shall require that the City, the La Porte Authority, and the La Porte Zone are named as additional insured's under such contractor's insurance policies. The insurance, at a minimum, must include the following coverage's and limits of liability: Coverage Limit of Liability Worker's Compensation Statutory Employer's Liability Bodily Injury by Accident $100,000 (each accident) Bodily injury by Disease $500,000 (policy limit) Bodily injury by Disease $100,000 (each employee) Comprehensive General Liability: Including Broad Form Coverage, Contractual Liability, Bodily and Personal Injury, and Completed Operations (for a period of one year after completion of work) Bodily Injury and Property Damage, Combined Limits of $500,000 each Occurrence and $1,000,000 Aggregate (- Automobile Liability Insurance (for automobiles used in performing under this Agreement, including Employer's $500,000 Combined Single Limit per Occurrence 12 HOU:2322718.7 - - - - - - - - - - - - - - - - - - -