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VI. TERM OF AGREEMENT: This Agreement shall be effective as of January 1, <br /> 2015 and shall continue to December 31, 2019. This Agreement shall be in effect <br /> as determined above unless terminated by either party. Termination of the <br /> Agreement by either party shall be effective by serving the other party with a <br /> written notice of termination not less than ninety (90) days prior to the date of <br /> termination of the Agreement. Either party, at its option,may terminate the <br /> Agreement as set forth above if the other party fails to comply with the terms and <br /> conditions of this Agreement. The parties also agree that this Agreement may be <br /> renewed on an annual basis upon agreement of both parties. Renewal of the <br /> Agreement may be by written resolution of both parties prior to expiration of the <br /> Agreement term. <br /> VII. ASSUMPTION OF LIABILITY: <br /> 1. Pequot Lakes agrees to assume all liability for Pequot Lakes' personnel <br /> arising out of public works services performed pursuant to this Agreement <br /> and Ideal agrees to assume all liability for Ideal personnel arising out of <br /> services performed pursuant to this Agreement. <br /> 2. Each party agrees that the acts of its employees and agents for any activity <br /> other than public works services identified herein shall be its responsibility <br /> and each party indemnifies the other from any claims arising out of non- <br /> public works activities caused by each party. <br /> 3. Pequot Lakes shall not be deemed to assume any liability for intentional <br /> misconduct of Ideal Township personnel or any agent or employee <br /> thereof. Ideal Township shall defend Pequot Lakes, its officers, <br /> employees, and agents against, indemnify and hold Pequot Lakes harmless <br /> from any claim for damages resulting from the performance of the <br /> services by Ideal Township under this Agreement. <br /> 4. Ideal shall not be deemed to assume any liability for intentional <br /> misconduct of Pequot Lakes' personnel or any agent or employee thereof. <br /> Pequot Lakes shall defend Ideal, its officers, employees, and agents <br /> against, indemnify and hold Ideal harmless from any claim for damages <br /> resulting from the performance of the services by Pequot Lakes under this <br /> Agreement. <br /> 5. Pequot Lakes and Ideal shall maintain comprehensive municipal liability <br /> coverage and automobile liability coverage in an amount equal to or <br /> greater than the maximum liability applicable to municipalities under <br /> Minnesota Statutes, Section 466.04, subd. 1., as amended. Pequot Lakes <br /> and Ideal shall add the other party as an additional insured to its liability <br /> coverage for claims that may arise under this agreement Pequot Lakes and <br /> 2 <br />