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Feb-08-98 03:43pm From-KENNEDY 1 GRAVEN +6123370310 T-201 P.00/11 F-556 • <br /> 11. Mutual Renegotiation. This Agreement may be renegotiated <br /> renegotiations of this Agreement <br /> ETC upon <br /> mutual consent of both of the parties. Any such mutual g <br /> must be reduced to writing as either an amendment to this Agreement or as an entirely <br /> new agreement. <br /> TC <br /> 12. Understandin and Intent of the Parties as to this A eement.The Citytate a MEnz ora, <br /> acknowledge that the City was the recipient of an end grant from the <br /> acting through its Commissioner of Children,Families and Learning,to be utilized for a <br /> portion of the renovation of the Community Center.to. The City and <br /> dn forth ETC iratend a of and <br /> have <br /> found that this Agreement is for the purposes ofpromoting that this Agreement is <br /> e <br /> public health, safety and welfare of the City, and thereby represent <br /> not intended to constitute a"Use Agreement" as that term is used by Minnesota Statutes, <br /> section 16A.695. Notwithstanding anything to the foregoing,the City does not make any <br /> representation or warranty concerning administrative or judicial interpretation of,or the <br /> applicability or lack thereof of Minnesota Statutes, section 16A.695 to this Agreement. <br /> ETC hereby waives any claim for any damages or other relief against the City,and its <br /> officers, agents, and employees, arising from an action, ofcessful or not, and <br /> Min�to Statutes, <br /> regardless by whom initiated,brought regardingapplicability <br /> section 16A.695. <br /> To the extent that Minnesota Stautes,, section 16A.695 should be found to be applicable <br /> to this Agreement,by the State or a court of competent jurisdiction, such that it <br /> constitutes a Use Agreement,ETC and the City agree as follows: the City and ETC shall <br /> amend the agreement accordingly to conform to statutory requirements and shall file any <br /> reports required by Minnesota Statutes, Section 16A.695, with the appropriate department <br /> of the state of Minnesota. Further,the parties agree to undertake any and all actions to <br /> bring this Agreement into compliance with any other provision of requirement of law. <br /> ARTICLE VII: PERFORMANCE BOND AND INSURANCE PROVISIONS <br /> A. Performance Bond. The City reserves the right to require,in itsCity <br /> i discretion, <br /> tat ETCt osta bond,�d, <br /> certificate of deposit, or other similar instrument approvedby from BTUs non rfotxnance of <br /> reasonably deems to be adequate compensation for damages resulting pe <br /> its obligations under this Agreement. <br /> B. Insurance. ETC will maintain in full force and effect, at its own cost and expense during the <br /> term of the this Agreement the following insurance coverage: <br /> 1. Commercial General Liability Insurance with limits of: <br /> $2,000,000 each occurrence; <br /> $3,000,000 general aggregate. injury and <br /> Including coverage for products--completed operations and personal <br /> advertising liability. <br /> SIR-i$5389 S <br /> MT.J205-4 <br />