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<br /> • 3. DURATION OF AGREEMENT. City, for itself and for its successors and assigns, shall take all
<br /> necessary actions to perform and carry out the Activities by December 31, 1998. City agrees to repay to
<br /> the MHFA the amount of the Program funds provided under this Agreement, according to the terms of
<br /> this Agreement,if the City fails to meet any terms and conditions of this Agreement or other documents
<br /> executed in connection with this Agreement.
<br /> 4. PAYMENT OF MHFA PROGRAM FUNDS. Upon completion of the property acquisition,the HRA
<br /> agrees to reimburse City with MHFA Program funds not to exceed$150,000.00. It is understood that the
<br /> HRA shall be held accountable to MHFA for the lawful expenditure of Program funds under this
<br /> Agreement. The HRA shall, therefore, make no payment of Program funds to City prior to having
<br /> received copies of all documents and records needed to ensure that City has complied with the appropriate
<br /> state and local regulations and requirements and conditions set forth in this Agreement.
<br /> 5. AMENDMENTS TO AGREEMENT. Any material alterations,variations,modifications,or waivers
<br /> of provisions of this Agreement shall be valid only when they have been reduced to writing as an
<br /> Amendment to this Agreement, signed and approved, and properly executed by the authorized
<br /> representatives of the parties.
<br /> 6. NON-ASSIGNMENT. City shall not assign,subcontract,transfer,or pledge this Agreement and/or the
<br /> Activities to be performed hereunder,whether in whole or in part,without the prior consent of the HRA.
<br /> 7. INDEMNIFICATION AND INSURANCE
<br /> a. The City agrees to defend,indemnify, and hold harmless the HRA,its elected officials, officers,
<br /> • agents,and employees(including duly authorized volunteers)from any liability,claims,causes of
<br /> action, judgments, damages, losses, costs, or expenses, including reasonable attorney's fees,
<br /> resulting directly or indirectly from any act or omission of the City,its officers,agents,employees
<br /> (including duly authorized volunteers),contractors,and/or anyone for whose acts or omissions it
<br /> may be liable for in the performance of the Activities required by this Agreement, against all loss
<br /> by reason of the failure of said City to perforin fully, in any respect, all obligations under this
<br /> Agreement.
<br /> b. In order to protect the City and those listed above under the indemnification provisions,the City
<br /> agrees at all times during the term of this Agreement and beyond such term when so requested by
<br /> the HRA,to keep in force the following insurance coverages:
<br /> I) Professional Liability- Errors and Omissions of$1,000,000 per claim with a$1,000,000
<br /> aggregate. City shall maintain such Professional Liability-Errors and Omissions insurance
<br /> coverage continuously for a period of two years after the termination of this Agreement.
<br /> 2) Commercial General Liability,including contractual liability coverage,with the following
<br /> coverages and insurance limits:
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