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7. Insurance. LICENSEE, at its own expense, shall procure an Insurance Policy <br />commonly known as Public Liability Insurance Policy with limits of ONE MILLION <br />($1,000,000.00) DOLLARS naming the CITY as Co -Insured or Additional Insured and shall <br />hold the CITY harmless from financial responsibility arising out of any claims or lawsuits that <br />may be made against the CITY because of this Agreement or the placement of the bus shelters <br />hereunder. <br />8. Indemnification. LICENSEE agree to indemnify and hold harmless the <br />CITY, its elected and appointed officers, agents, servants and employees, from and against any <br />and all claims, demands, or causes of action of whatsoever kind or nature sustained by the CITY <br />or any third party arising out of, by reason of, resulting from, or in connection with the <br />LICENSEE's performance of this Agreement, and from and against any resulting losses, costs, <br />expenses, reasonable attorneys' fees, liabilities, damages, orders, judgements, or decrees. <br />9. Payments. Any and all payments to the CITY shall be made to the following <br />address: <br />City of SUNNY ISLES BEACH <br />Attn: City Manager <br />City Hall <br />17070 Collins Avenue <br />Sunny Isles Beach, FL 33160 <br />10. Term. The term of this Agreement shall be three (3) years commencing on June <br />16,1997 through June 30,2000. The CITY may extend this Agreement an additional five (5) <br />years with the written consent of the LICENSEE. <br />11. Amendment. This Agreement may be amended by the mutual written consent of <br />the parties. This Agreement, or any interest herein, shall not be assigned, transferred or <br />otherwise encumbered without the prior written consent of CITY. <br />12. Entire Agreement. This Agreement sets forth all of the promises, covenants, <br />agreements, conditions and understandings between the parties hereto, and supersedes any and <br />all prior or contemporaneous agreements, understandings, inducements or conditions, express or <br />implied, oral or written, except an herein contained. <br />13. Notices. Upon further written notice by either party to the other, all notices <br />provided for herein shall be in writing and transmitted by overnight mail, certified mail return <br />receipt requested, or by hand -delivery, and shall be mailed or delivered as follows: <br />3 <br />