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L-449 <br />Page 6 of 9 <br /> <br />12. INSURANCE <br /> <br />12.1 Property Damage It shall be the duty of LICENSOR and LICENSEE to maintain <br />insurance or self-insurance on their own property, both real and personal. <br />Notwithstanding anything apparently to the contrary in this License, LICENSOR and <br />LICENSEE hereby release one another and their respective partners, officers, <br />employees and property manager from any and all liability or responsibility to the other <br />or anyone claiming through or under them by way of subrogation or otherwise for loss or <br />damage covered by said insurance, even if such loss or damage shall have been <br />caused by the fault or negligence of the other party, or anyone for whom such party may <br />be responsible. <br /> <br />12.2 Liability LICENSOR and LICENSEE agree that each party will be responsible for its <br />own acts and the results thereof to the extent authorized by law and shall not be <br />responsible for the acts of any others and the results thereof. LICENSEE'S liability shall <br />be governed by the provisions of the Minnesota Tort Claims Act, Minn. Stat. §3.736, <br />and other applicable law. <br /> <br />13. AUDIT Pursuant to Minn. Stat. §16C.05, subd. 5, the books, records, documents and <br />accounting procedures and practices of LICENSOR relevant to this License shall be subject to <br />examination by the State and/or Legislative Auditor, as appropriate, for a minimum of six (6) <br />years. <br /> <br />14. DEFAULT BY LICENSOR If LICENSOR shall default in the performance of any of the terms <br />or provisions of this License, LICENSEE shall promptly provide written Notice to y LICENSOR. <br />If LICENSOR shall fail to cure such default within five (5) days after receipt of such Notice, <br />LICENSEE, at its sole option, may terminate this License upon three (3) days written Notice or <br />may cure such default. In the event LICENSEE cures the default, LICENSOR shall pay all <br />reasonable and actual expenses paid by LICENSEE to cure said default, including attorney’s <br />fees, within ten (10) days of receipt of invoices therefore rendered, or LICENSEE shall have a <br />specific right to off-set any such amounts due from LICENSOR against any rent payments or <br />other amounts due under this License. In the event LICENSEE elects to terminate this <br />License, said termination shall not limit LICENSEE’S rights to damages caused by the breach <br />and failure to cure. This provision in no way limits LICENSEE'S other remedies for breach <br />under common law or this License. <br /> <br />15. MANAGEMENT LICENSOR agrees that in exercising its management responsibilities of the <br />Property of which the Premises is a part, including the maintenance, repair, alterations and <br />construction relating thereto, it shall comply with all applicable laws, statutes, rules, ordinances <br />and regulations, including but not limited to building code, Fire Code, disabilities access, <br />zoning, air quality, pollution control, recyclable materials and prevailing wage requirements, as <br />issued by any federal, state or local political subdivisions having jurisdiction and authority in <br />connection with said property. <br />