Agenda - Council - 01/24/1989 - Laserfiche WebLink

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($6,DDD,OOD) for all damages arising out of bodily injuries to or death of any person or persons and for all Oamages arising out ef the loss or oestruction of or injury or damage to property during the policy period. Said insurance policy executed by a corporation ~J~ft~d to.rite the sa.me ~ the State in whi~ +.~teJ.~r~ ~Jlo.~e performed shall be in the form and substance satisfactory to the Railroad Company shall be delivered to ~he LaKes Division General Manager at 80 - 44th Avenue N.E., Minneapolis, Minnesota $5421, and approved by the Railroad Company prior to the entry upon or use of its property by the Contractor. Carry regular Contractor's Public Liability and Property Damage Insurance as specified in FHPM 6-6-2-2 providing for a limit of not less than Five Hundred Thousand Dollars (S50O,O00) for ail damages arising out of bodily injuries to or death of one person, and subject to that limit for each person, a total limit of not less than One Million Dollars ($1,OSO,OOO) for all Oamages arising o~t of bodily injuries to or ~eath of two or more persons in any one accident: and providing for a limit of not less than Five Hun~re~ Thousand Dollars (SSOD,OOD) for ail damages to or cestruction of property in any one accident an~ su~ect to that limit of total (or aggregate) limit of not less than One Million Dollars for all 6amages to or destruction of property during the policy period. ^ certified copy of the policy providing said Contractor's Public Liability and Property Damage insurance, executec by corporation qualified to write the same in the State in which the work is to be performed, inform an~ substance satisfactory to the Railroad shall be delivered to the Lakes Division General Manager at 80 - ~4th Avenue N,E., Minneapolis, Minnesota 55421. and approved by the Railroad prior to the entry upon or use of the Railroad's property by the contractor. If the City, its contractor, subcontractors or agents, in the performance of the work herein provided for or by the failure to do or perform anything for which it is responsible under the provisions hereof, shall damage or destroy any property of the Railroad, such damages or destruction shall be corrected by the City at its sole cost and expense in the event its contractor or ~,,e insurance carriers fail to repair cr restore the same. VIi! Upon completion of the project, the City at its sole cost and expense, shall maintain ail improvements, other appurtenances, ad,'anco warning signs and standard pavement markings with the exception of the crossin~ which will be maintatne~ by the Railroad and the City as provided by law. IX Upon completion of the installation of said signals, the Railroad, at City expense, shall operate and maintain said signals. Maintenance cost ~tll be based on 62 AAR Units. City will pay this maintenance cost on a yearly basis. X in the event said highway-railroa~ ~rade crcssin~ and signal system installe~ u~er t~is &?e~ment is ~artiaily or wholly destroyed and the cost of repair or replacement cannot be re:overec from the ~erson or ~ersons responsible for such destruction, th~n, in that event, the cost cf repair or replacement shall be borne by the City. III