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4. All meter revenue from operation of meters on the Property shall be collected by <br />City for sole use an ownership by the City. WU shall have the right to audit and inspect <br />the books and records of City as they relate to such collections. <br />5. The term of this Agreement shall be for a period of five (5) years, commencing on <br />the date the Property is placed in service following substantial completion of WU’s work <br />and installation of meters and signage by City as aforesaid (the “Commencement Date”). <br />Promptly following the Commencement Date, the parties shall enter into a written <br />memorandum in confirmation thereof. Beginning on the five (5) year anniversary of the <br />Commencement Date, and on each subsequent anniversary thereafter, this Agreement <br />shall renew for an additional period of one (1) year each, unless either party shall give the <br />other not less than sixty (60) days advance notice of nonrenewal. <br />6. Section 5 and any other provision hereof to the contrary notwithstanding, either <br />party may cancel and terminate this Agreement with or without cause at any time on not <br />less than sixty (60) days advance notice. Nothing in this Agreement shall constitute a <br />dedication by WU to public use or public purpose of the Property or any portion thereof <br />in perpetuity or for any term of years. WU reserves the right on not less than sixty (60) <br />days written notice with or without cause at any time to withdraw the Property from <br />further use as a surface parking lot and devote the Property to any one or more other uses <br />as WU may determine. If WU terminates the agreement in less than five years the City <br />shall be compensated for the cost to remove and relocate meters and signage associated <br />with parking use. <br />7. WU shall indemnify and hold City and its elected officials and employees <br />harmless from and against any and all liabilities, claims, expenses (including attorneys' <br />fees and expenses), damages and causes of action for loss of life or any injury or damage <br />to any person or property of any nature resulting from the negligence or willful <br />misconduct of WU or any person for whom WU is legally liable arising out of the <br />operation or use of the Property. To the extent allowed by law, City shall indemnify and <br />hold WU and its trustees, officers, and employees harmless from and against any and all <br />liabilities, claims, expenses (including attorney’s fees and expenses), damages and causes <br />of action for loss of life or any injury or damage to any person or property of any nature <br />resulting from the negligence or willful misconduct of City or any person for whom City <br />is legally liable arising out of the operation or use of the Property. <br />8. City shall keep in full force and effect during the term of this Agreement, <br />including renewals, a commercial general liability policy of insurance with a carrier <br />satisfactory to WU, on an occurrence basis against liability for injury to persons or <br />property occurring on or about the Property, with the limits of the insurance to be not less <br />than three-hundred thousand ($300,000) coverage for each accident or occurrence and <br />Two Million Dollars ($2,000,000) annual aggregate. City agrees to deliver to WU, prior <br />to each policy period, an acceptable certificate of insurance evidencing this required <br />coverage and including an endorsement which states that the insurance may not be <br />canceled except upon thirty (30) days written notice to WU. City’s policies shall name <br /> <br />