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part of the Utilities. The Maintenance Financial Guarantee shall <br /> be in the form of cash or a letter of credit, approved as to form <br /> by the CITY. <br /> <br /> 5. ESTIMATED COSTS. It is understood and agreed that cost <br /> amounts set forth in this Agreement, unless specified as fixed <br /> amounts, are estimated. OAKWOOD shall pay the actual cost of said <br /> improvements including interest, engineering and legal charges. <br /> <br /> 6. UTILITIES OWNERSHIP. Upon completion of the work and <br /> construction of the Utilities required by this Agreement and <br /> acceptance by the CITY, the Utilities lying within public and <br /> private easements shall become CITY property without further notice <br /> or action. In addition, when the CITY accepts the Utilities, <br /> OAICWOOD shall convey to the CITY any private easements it has <br /> acquired in order to facilitate the Utilities' construction. <br /> <br /> 7. HOLD HARMLESS. OAKWOOD shall hold the CITY and its <br /> officers and employees harmless from claims made by itself and <br /> thi.cd parties for damages sustained or costs incurred resulting <br /> from construction of the Utilities. <br /> <br /> 8. LIABILITY INSURANCE. OAKWOOD shall take out and maintain <br />until six months after the CITY has accepted the Utilities, public <br />liability and property damage insurance covering personal injury, <br />including death and claims for property damage which may arise out <br />of OAKWOOD'S work or the work of its subcontractors or by one <br />directly or indirectly employed by any of them. Limits for bodily <br />injury and death shall be not less than $1,000,000.00 per person <br />and $2,000,000.00 for each occurrence; limits for property damage <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> ! <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br /> <br /> <br />