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4. Term. This agreement shall remain in effect on a month to month basis, with a <br />total maximum term length not to exceed five (5) years. This Agreement shall commence on the <br />date the last party signs this agreement (the "Effective Date "). This agreement may be canceled <br />by the City if its agreement with FDOT is terminated or if Regalia fails to timely send any <br />monthly fee to the City. <br />5. Costs and approval of parking signs. Regalia shall reimburse to the City the <br />costs associated with constructing and placing signs stating that the parking spaces on the <br />Property shall only be utilized by Regalia's employees, contractors, subcontractors, agents. <br />representatives and invitees in order to accommodate potential overflow parking in connection <br />with the Project. <br />6. Improvements. No structures or improvements of any kind shall be placed upon <br />the Property without prior written approval of the City. <br />7. Maintenance. Regalia shall keep and maintain the parking spaces licensed <br />under this Agreement within the Property in good and clean condition, including the <br />regular removal of all litter and trash. <br />8. Indemnification. This Agreement is one of licensing of property and is not a <br />bailment. The parties agree that the City shall not assume any responsibility for the vehicles <br />licensed to be parked within the Property under this Agreement and the contents therein. <br />Regalia, as a material part of the consideration to be rendered to the City under this Agreement, <br />to the extent permitted by law, hereby waives all claims against the City, its agents servants or <br />employees for loss, theft or damage to vehicles licensed to be parked within the Property under <br />this Agreement and the contents therein. To the extent permitted by law, Regalia shall <br />indemnify, defend and hold the City, its employees and public officials, agents, and servants <br />harmless from, and on account of, any damage or injury to any person, or to the property, goods, <br />wares and merchandise of any person, arising from the use of the Property by Regalia's <br />employees, contractors, subcontractors, agents, representatives and/or invitees in order to <br />accommodate potential overflow parking in connection with the Project. Regalia agrees to add <br />the City as an additional insured under its general liability insurance policy. <br />9. Assumption of Risk. All property belonging to Regalia or any of their parking <br />patrons of the Property authorized under this Agreement shall be at the risk of Regalia or such <br />other person only. Except for the intentional or sole negligent actions of the City or its agent or <br />employees, the City, its employees and public officials, and agents shall not be liable for injury <br />to persons, or damage to, or theft of, or misappropriation of such property by any means <br />whatsoever resulting from the use of the Property under this Agreement. Regalia shall give <br />prompt notice to the City in case of any such injury, damage, theft, or misappropriation. In case <br />any action or proceeding should be brought against the City by reason of any obligation on <br />Regalia's part to be performed under the terms of this Agreement or arising from any act or <br />negligence of Regalia, or of its agents or employees. Regalia, upon notice from the City, shall <br />defend the City at Regalia' expense, by counsel reasonably satisfactory to the City. <br />