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MASTER SECTION: <br /> 1. Late Charges - There shall be assessed and the permittee shall pay upon any installment of <br /> the use fee or portion thereof not paid within twenty (20) days after such fee installment is <br /> due and payable, a late charge penalty for each week or fraction thereof the use fee or <br /> portion thereof is not paid equal to five percent(5%)of the amount for such use fee or portion <br /> thereof(plus accrued late charge penalties, if any)due and payable. The amount of such late <br /> charge penalty shall be added to the amount due each month, and the total thereof shall be <br /> subject to a late charge for each succeeding month of fraction thereof in the amount of five <br /> percent (5%) of the total. <br /> 2. Insurance <br /> A. Insurance Term <br /> Each permittee shall procure and maintain for the duration of this Agreement insurance <br /> against claims for injuries to persons or damage to property for activities occurring under <br /> this Agreement. <br /> In lieu of complying with the insurance provisions of this section 2, each permittee may <br /> provide proof of self insurance or of participating in an insurance pool acceptable to the <br /> Arlington Municipal Airport. <br /> B. No Limitation <br /> Each permittee's maintenance of insurance as required by the agreement shall not be <br /> construed to limit the liability of the permittee to the coverage provided by such <br /> insurance, or otherwise limit the City's/Arlington Municipal Airport's recourse to any <br /> remedy available at law or in equity. <br /> C. Required Insurance <br /> Each permittee's required insurance shall be as follows: <br /> General Liability insurance shall be at least as broad as Insurance Services Office (ISO) <br /> occurrence form CG 0001 covering premises,operations, products-completed operations <br /> and contractual liability. The City/Arlington Municipal Airport shall be named as an <br /> additional insured on permittee's General Liability insurance policy using ISO Additional <br /> Insured-Managers or Lessors of Premises Form CG 2011 or an endorsement providing at <br /> least as broad coverage. The General Liability insurance shall be written with limits no <br /> less than $1,000,000 each occurrence, $1,000,000 general aggregate. <br /> The insurance policy shall contain or be endorsed to contain that the permittee's <br /> insurance coverage shall be primary insurance as respect the City/Arlington Municipal <br /> 3 <br />