2008/12/31 Council Agenda Packet

q. Pay leasehold excise tax including any penalties and interest if such leasehold excise tax is determined to be owed. r. Close or restrict rowing operations for the duration of any unsafe rowing condition as determined by the Association (for example,but not limited to, flooding,excessive debris,storm,unsafe equipment,lack of adequate supervision or any other hazardous conditions). The City reserves the right to close or restrict the Association operations at the City's discretion. s. Clean and maintain shellhouse restrooms. boathouse interior,and restrooms. 4. Assignability. The Association shall not assign any interest in this Agreement and shall not transfer any interest in the same. 5. Insurance. The Association shall take out and maintain insurance in the following amounts during the term of this Agreement: a. Commercial General Liability Insurance, including products and completed operations,and sports events coverage, for property damage and bodily injury liability with limits not less that$1,000,000 per occurrence and$2,000,000 in the annual aggregate. Prior to any performance pursuant to the Agreement,the Association shall provide the City with a Certificate of Insurance describing the policies,issuers,policy numbers and policy limits and an endorsement naming the City,its officers,employees and agents,as an Additional Insured in a form acceptable to the City Attorney and upon request shall provide a certified copy of the insurance policy or policies. Waiver of any of the above-referenced insurance requirements shall be made only after written approval by the City Attorney. The Association agrees to provide at least thirty(30)days notice prior to cancellation of any of the insurance requirements set forth above. b. Fire and casualty insurance covering the contents of the shellhouse at the Association's own cost. Proof of said insurance shall be promptly provided to the City Attorney. The Association shall give the City at least thirty(30)days written notice of cancellation of the insurance referenced above. c. Maintain USRA Rowing Insurance in good standing or its equivalent as approved by the City. 6. Hold Harmless. Each party agrees to defend, indemnify and hold the other party harmless from and against any and all claims and liabilities arising out of its performance of or breach of this agreement. 7. Modification. This Agreement may be modified only by a mutual agreement of the parties in writing. 8. Duration. The duration of this Agreement shall be from the date first above written through December 31,2011. The parties will also meet annually for a formal review 1