73-18 Exhibit - Authorizing License Agreement for Parking on 471 Pleasant Valley Way.pdf

policy shall insure against claims for bodily injury, personal injury, death or property damage occurring on, in or about the Parking Areas with limits of not less than $1,000,000 per occurrence and $2,000,000 in the aggregate. If the policy covers other locations owned or leased by Licensee, then such policy must include an aggregate limit per location endorsement. (ii) Workers’ compensation insurance coverage for the full statutory liability of Licensee and employers’ liability insurance with a limit of not less than (x) $500,000 per accident for bodily injury by accident, (y) $500,000 policy limit by disease, and (z) $500,000 per employee for bodily injury by disease. (iii) Business auto liability insurance covering vehicles owned by Licensee with limits of not less than $1,000,000 per accident. (iv) Such other insurance as may be required by any lender of Licensor. (b) The policies of insurance required to be maintained by Licensee pursuant to this Section 6 must be reasonably satisfactory to Licensor and must be written as primary policy coverage and not contributing with, or in excess of, any coverage carried by Licensor. All policies must name Licensee as the named insured party and, except for worker’s compensation, all policies shall name as additional insureds, Licensor, the holder(s) of any mortgage(s) encumbering the Property, and other designees of Licensor and its successors as the interest of such designees shall appear. In addition, Licensee agrees and shall provide thirty (30) days’ prior written notice to Licensor of suspension, cancellation, termination or non-renewal of coverage. Licensee shall not self-insure for any insurance coverage required to be carried by Licensee under this License. The deductible for any insurance policy required hereunder must not exceed $10,000. Licensee shall have the right to provide the insurance coverage required under this License through a blanket policy, provided such blanket policy expressly affords coverage to the Parking Areas and to Licensor as required by this License. (c) Prior to the Commencement Date, Licensee shall deliver to Licensor certificates of insurance evidencing all insurance Licensee is obligated to carry under this License, together with a copy of the endorsement(s), specifically including,

nsee shall deliver to Licensor certificates of insurance evidencing all insurance Licensee is obligated to carry under this License, together with a copy of the endorsement(s), specifically including, but not limited to, Waiver of Rights to Recover From Others, Additional Insureds (ongoing and completed operations) and Contractual Liability endorsements. Within ten (10) days prior to the expiration of any such insurance, Licensee shall deliver to Licensor certificates of insurance evidencing the renewal of such insurance. Licensee’s certificates of insurance must be on: (i) ACORD Form 27 with respect to property insurance; and (ii) ACORD Form 25 with respect to liability insurance or, in each case, on successor forms approved by Licensor. (d) If Licensee fails to maintain the insurance required by this License, Licensor may, but will not be obligated to, obtain, and pay the premiums for, such insurance. Upon demand, Licensee shall pay to Licensor all amounts paid by Licensor pursuant to this Section 6(d). (e) It is expressly understood and agreed by and between Licensor and Licensee that public parking in the Parking Areas shall at the sole risk of any and all individuals or parties who park in the Parking Areas and that any and all individuals or parties who park in 3 53271403.v2