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5. Compliance with Laws. Licensee shall not commit or permit any act to be <br /> performed on the License Area or omission to occur which will be in violation of any statute, <br /> regulation or ordinance of'any governmental body or which will be in violation of any insurance <br /> policy carried on the License Area by Licensor. <br /> 6. Assignability. This Agreement, and the License herein granted, may not be <br /> assigned or transferred to any third party by Licensee without the prior written approval of <br /> Licensor. <br /> 7. Term and Termination. This License shall be for an initial term of ten (10) years, <br /> and may only be terminated during the initial term by Licensee or by written agreement of the <br /> Licensor and Licensee. Following the initial term, this License shall remain in effect until <br /> terminated by either party. Licensor may terminate this agreement after the initial term upon <br /> ninety(90) days written notice to Licensee. Licensee may terminate this Agreement at any time, <br /> upon written notice to Licensor. Licensee shall remove all of Licensee's property from the <br /> License Area and return the License Area to its existing condition by the effective date of a <br /> termination. <br /> 8. Miscellaneous Provisions. <br /> a. Notice Addresses. All notices shall be sent by registered or certified mail <br /> addressed as follows: <br /> Licensor: Housing and Redevelopment Authority of <br /> the City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Licensee: Elk River Municipal Utilities <br /> 13069 Orono Parkway <br /> Elk River, MN 55330 <br /> Either party may, by such notice, designate a new or other address to which notice may <br /> be mailed. <br /> b. Governing Law. This Agreement shall be construed in accordance with <br /> and governed by the laws of the State of Minnesota. <br /> 2 <br /> 36 <br />