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<br />options' right to use or occupy any portion of any street, alley, right~of-way or other City <br />property. Any such revocation shall not substantially reduce the total number of transit shelters <br />then existing under this Agreement. Outdoor Promotions shall have the option to extend this <br />Agreement for up to two (2) additional five (5) year terms. Outdoor Promotions may exercise <br />each five (5)-year extension option by providing written notice of such exercise to the City within <br />sixty (60) days prior to the end of the then current term of this Agreement. Notwithstanding the <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 IV: PAYMENTS TO THE CITY OF ROSEVILLE <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 displayed on all transit shelters installed pursuant to this <br />lAgreemen.~ ~1~~1_ E~ )~l_l] ~.T)l_ ~.l! ~ll ! ., ~.~ J!! ~0 ~__t~~ __~r_l~ S',: tlJ __ ~ I! __ ~h,<: _ !~)_1:T)1_ ~),1:_,! d5! \ t, i.{)~ ,1.1. ?h ~_! ! ~_l:~~ __t_r:.~~l~~j_~ " ..__ <br />amenities, or mainfenance services. 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 />ARTICLE V: IINSURANCEju <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,OOO 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 $ I 50,000 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 />Page 3 of6 <br />