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8. Insurance. Licensee shall, at Licensee’s sole cost and expense, maintain general <br />public liability insurance against claims for personal injury, death or property damage occurring <br />upon, in or about the License Area, such insurance to afford protection to the limit of not than <br />$1,000,000.00 in respect to injury or death to a single person, and to the limit of not less than <br />$3,000,000.00 in respect to any one accident, and to the limit of not less than $500,000.00 in <br />respect to any property damage and shall name Licensor as an additional insured. <br />All policies of insurance shall be written in companies that are qualified to do business in <br />the State of Minnesota with a minimum AM Best Rating of at least A-. Licensee shall procure and <br />deliver to Licensor certification from the respective insurance companies indicating that the <br />insurance to be maintained by Licensee is in force. Such certificate shall require the insurance <br />companies to give thirty (30) days’ advance notice to Licensor of any cancellation or modification <br />of coverage. <br />Licensee agrees that such policy or policies shall contain a waiver of subrogation clause as <br />to Licensor. Licensee waives, releases and discharges Licensor from all claims or demands <br />whatsoever which Licensee may have or acquire in the future arising out of damage to or <br />destruction of the License Area. <br />9. Assignability. This Agreement, and the Licenses herein granted, may not be <br />assigned or transferred to any third party by Licensee and shall automatically terminate if any <br />effort is made to assign it. <br />10. Termination. Licensor may terminate the License granted by this Assignment for <br />any reason, in its sole discretion, upon five (5) days’ written notice from Licensor to Licensee. In <br />addition, Licensor may terminate the License granted by this Agreement immediately upon notice <br />to Licensee, if Licensor determines, in its sole discretion, that it is necessary to do so. Licensee <br />may terminate this Agreement at any time, upon written notice to Licensor. <br />11. No Waiver. No waiver of any breach or any agreement, covenant or restriction <br />contained herein shall be construed to be a waiver of any other or future breach of the same or <br />other covenants or restrictions. <br />12. Notice Addresses. All notices shall be sent by registered or certified mail addressed <br />as follows: <br />Licensor: Park Maintenance Superintendent <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> <br />Licensee: Robert Hoffman <br /> <br /> <br /> <br /> <br />Either party may, by such notice, designate a new or other address to which notice may be mailed. <br /> S-3 <br />