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<br />foregoing, Outdoor Promotions shall not have the right to exercise an extension option while an <br />uncured default by it exists with respect to this Agreement. <br /> <br />ARTICLE N: PAYMENTS TO THE CITY OF ROSEVILLE <br /> <br /> <br />In consideration of this Agreement, Outdoor Promotions shall pay the City a monthly amount <br />equivalent to eight (8) percent (%) of the gross advertising revenues received by Outdoor <br />Promotions from advertisements dis la ed on all transit shelters installed pursuant to this <br />A eemen <br />Payments and a quarterly report on operations and revenue <br />shall be made thirty (30) days after the close of each quarter of the year. Outdoor Promotions <br />shall maintain adequate books and records showing revenues received with respect to the transit <br />shelters. Such books and records shall be available to the City for inspection any time during <br />normal business hours upon forty-eight (48) hours prior written notice thereof to Outdoor <br />Promotions. All such books and records shall be retained by Outdoor Promotions for a minimum <br />of five (5) years. <br /> <br /> <br />ARTICLE V: <br /> <br /> <br />Outdoor Promotions shall procure and maintain at its own cost the following insurance coverage: <br /> <br />a) Workers compensation insurance in accordance with the Minnesota Workmen's <br />Compensation Act. <br />b) Commercial general liability insurance with minimum limits of $150,000 per person and <br />$1,000,000 per occurrence. <br />c) Comprehensive automobile liability insurance with minimum limits for bodily injury and <br />property damage of $150,000 per person and $600,000 per occurrence. <br /> <br />The foregoing insurance coverage shall be procured and maintained with insurers that are <br />reasonably acceptable to the City, The liability insurance policies shall be endorsed to include the <br />City as an additional insured. <br /> <br />ARTICLE VI: INDEMNIFICATION <br /> <br />Outdoor Promotions shall defend, indemnify and hold harmless the City, its officers, agents, <br />representatives and employees from and against all liability, claims, demands and expenses <br />(including court costs and reasonable attorneys fees), on account of any injury, loss or damage, <br />arising out of or in connection with the performance by Outdoor Promotions of its services <br />pursuant to this Agreement, if such injury, loss or damage is caused by the negligent acts errors or <br />omissions of Outdoor Promotions, a subcontractor of Outdoor Promotions, or any officer, <br />employee, agent or representative of Outdoor Promotions, Such indemnity shall not apply to any <br />injury, loss or damage that is caused by the negligent acts, errors or omissions of the City or any <br />of its agents or employees. <br /> <br />ARTICLE VII: CITY'S RESPONSIBILITIES <br /> <br />The City shall provide Outdoor Promotions with all available information, which is relevant to <br />the Transit Shelter Program together with the necessary guidance and direction to achieve the <br />Program's ob'ectives. In consideration ofthe Ci 's use of the transit shelters at no cost, the City <br /> <br /> <br />Provided that each transit shelter complies <br />fully with the provisions of this Agreement and all applicable provisions of the City's Municipal <br />Page 3 of6 <br />