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<br />5. Insurance. The City and Meredith will maintain <br />liability insurance in the amount of at least six hundred <br />thousand dollars ($600,000.00) to cover any liability for their <br />respective use of the parking lot and service drive. Meredith <br />will name the School District as an additional party insured <br />under the policies referred to above. <br /> <br />6. Hold Harmless. The City and Meredith agree to defend <br />and hold the other party harmless from any and all claims which <br />may be made for personal injury or property damage resulting <br />from the negligent acts of the City or Meredith, as the case <br />may be. <br /> <br />7. Term of Aqreement. This Agreement shall be in full <br />force and effect for a ten (10) year period or for so long as <br />Meredith leases the property from the School District, <br />whichever is longer, and shall be binding on any successors in <br />Meredith's leasehold to the property. <br /> <br />8. Other. In the event there are any inconsistencies in <br />the property descriptions in Exhibits "An and "B", then <br />Meredith agrees that Exhibit nA" will prevail and Meredith <br />agrees that the City does have use and possession according to <br />the terms of the Lease shown in Exhibit "An. <br /> <br />9. Meredith specifically ratifies and affirms its <br />existing agreement with the school district, notwithstanding <br />any modifications under this agreement and' affirming those <br />covenants and agreements including rent as specified in the <br />existing lease agreement. <br /> <br />4 <br />