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XII. XIII. shall not be relieved thereby of the payment of any claims under this Memorandum because of such bankruptcy or insolvency. ASSIGNMENT: No assignment of the "Covered Party's" interest hereunder shall be binding upon the Authority unless its consent is endorsed hereon. NOTICE OR PAYMENT: If more than one entity is named in Item 1 of the Declarations, notices, stipulations and payments to or by the entity first named in Item 1 shall be binding upon all other entities named therein. XIV. CHANGE OR WAIVER: The terms of this Memorandum shall not be waived or changed except by endorsement issued to form a part hereof, signed by a duly authorized representative of the Authority. XV. XVI. XVII. CANCELLATION: This Memorandum may be canceled by the "Covered Party" only at the end of the Coverage Period and then only by giving the Authority at least 60 days advance written notice of such cancellation. The Authority may cancel this agreement under the provisions of Article 21, Subsections (a)(1) and (a)(2), of the "Joint Powers Agreement" by giving "Covered Party" at least 60 days advance written notice of the effective date of any cancellation under the foregoing provision. This agreement does not apply to any loss as a result of any occurrences taking place at or after the effective date of any such cancellation. Any return of unearned premium in the event of cancellation by the Authority shall be determined pursuant to Article 22, Subsection (a) of the "Joint Powers Agreement." ACCEPTANCE: By acceptance of this Memorandum the "Covered Party" agrees that each of the persons, firms or organizations named in the Declarations as the "Covered Party" is, or upon learning of the necessity therefore will become qualified to operate with the permission of the proper authorities as a self-insurer under the "Workers' Compensation Act" of each of the states named in Item 4 of the Declarations; that the statements in the application for this Memorandum are the "Covered Party's" agreements and representations; that this Memorandum embodies all agreements existing between the "Covered Party" and the Authority or any of its agents relating to this insurance; and that full compliance by the "Covered Party" with all the terms of this Memorandum is a condition precedent to the Authority's liability hereunder. CONFORMANCE WITH WORKERS' COMPENSATION LAW: Any term of this Memorandum which conflicts with ay provision of the California Workers' Compensation Law is changed by this provision to conform to said law. IN WITNESS WHEREOF, the Authority has caused this Memorandum to be executed and attested, but this Memorandum shall not be valid unless countersigned by an authorized representative of the Authority. Form 7/1/2004 Page 8 of 8 .... .....-..... ......---....-.