06.03 License Agreement over Outlot A, Field of Dreams

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shall have the right to approve any settlement, which approval shall not be unreasonably withheld. The indemnification provision of this Section shall not apply to damages or other losses proximately caused by or resulting from the gross negligence or willful misconduct of the City. All indemnification obligations shall survive termination, expiration or cancellation of this License. 6. INSURANCE. Licensees shall, at their expense, maintain in effect liability insurance with limits not less than the maximum liability limits for a municipality as provided in Minnesota Statutes, Section 466.04; the City of Pequot Lakes shall be a named insured on such policy. The insurance policy and certificate shall not be canceled or its conditions altered in any manner without ten (10) days prior written notice to the City Administrator of the City of Pequot Lakes. The insuring company shall deliver to the City Administrator, certificates of all insurance required, signed by an authorized representative and stating that all provisions of the specified requirements are satisfied. If Licensees fail to give such certificate of insurance to the City within ten days after execution of this Ageement, this License shall be null and void. Licensees shall annually provide additional certificates of insurance to the City. If Licensees fail to maintain a policy of insurance as required by the City for the term of this Agreement, the City may immediately revoke this License and require the immediate restoration of the licensed premises to its preexisting condition at the Licensee's sole cost and expense. 7. GENERAL TERMS. a. VOLLJNTARY AND KNOWING ACTION. The parties,by executing this Agreement, state that they have carefully read this Agreement and understand fully the contents thereof; that in executing this Agreement they voluntarily accept all terms described in this Agreement without duress, coercion, undue influence, or otherwise, and that they intend to be legally bound thereby. b. AUTHORIZED SIGNATORIES. The parties each represent and warrant to the other that (1) the persons signing this Agreement are authorized signatories for the entities represented, and (2) no further approvals, actions or ratifications are needed for the full enforceability of this Agreement against it; each party indemnifies and holds the other harmless against any breach of the foregoing representation and wananty. c. ASSIGNMENT. 'I'his Agreement may not be assigned by either party without the written consent of the other party. d. MODIFICATIONS/AMENDMENT. Any alterations, variations, modifications, amendments or waivers of the provisions of this Agreement shall only be valid when they have been reduced to writing, and signed by authorized representative of the City and Licensee. e. RECORDS—AVAILABILITY AND RETENTION. Pursuant to Minn. Stat. § 16C.05, subd. 5, Licensees agree that the City, the State Auditor, or any of their duly authorized representatives at any time during normal business hours and as often as 4