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7. Insurance. During the term of this Agreement, the Permitee shall procure and keep in force occurrence-based commercial general liability insurance, providing coverage for bodily injury, personal property damage, personal injury and contractual liability, on terms and with companies acceptable to the City. Such policy shall have combined policy limits in amounts not less than $1,500,000.00. The policy must name the City as an additional insured. The policy must be effective upon the effective date of this Agreement and provide for 60 days' notice to the City in the event of cancellation,non-renewal or modification of the policy(ten(10) days for non-payment of premium). 8. Term and Termination. This Agreement shall be effective upon the date above written and shall continue until terminated by either party as set forth in this Agreement. The City or the Permitee may terminate this Agreement at any time for any reason, or for no reason at all, by providing 60 days' written notice to the other party. Upon termination of this Agreement by either party, the Permitee shall immediately vacate the Parking Areas and the City may remove any of the improvements within the Parking Areas. 9. Legal Fees. The City is entitled to recover its reasonable attorneys' fees and costs incurred in enforcing the terms of this Agreement. 10. Notice. Any notice, demand, or other communication under this Agreement by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail,postage prepaid,return receipt requested, or delivered personally; and . (i) in the case of the Permitee: Mounds View Estates 2536 Marshall Street NE Minneapolis,MN 55418-3329 Attn: (ii) in the case of the City: City of Mounds View 2401 Highway 10 Mounds View,MN 55112 Attn: City Administrator or at such other address with respect to either such party as that party may, from time to time, designate in writing and forward to the other as provided in this paragraph. 11. Recording. The City may record this Agreement and any amendments thereto in the office of the Ramsey County Recorder or Registrar of Titles, as may be applicable, at the Permitee's expense. 12. Entire Agreement; Modification. This Agreement constitutes the entire agreement between the parties and supersedes any other written or oral agreements between the parties relating to the Parking Area. Any modification of this Agreement or additional obligation assumed by any party in connection with this Agreement shall be binding only if evidenced in writing signed by the parties to be affected by said modification or additional obligation. 13. Assi ent. The Permitee shall not assign any rights under this Agreement • except with the prior,express, and written consent of the City. 381190v4 MU210-179 4