Agmt24 The Sobrato Organization License Agreement New Term

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REV: 05-01-24 LF 5. INTERPRETATION. a. This License shall be governed by the laws of the State of California, and shall be binding upon and inure to the benefit of the parties hereto and their respective successors, transferees and assigns. This License contains the entire agreement of the parties relating to Licensee licensing the Property from Licensor for Licensee’s Fire Training. Any oral understanding or oral agreement, if any, between Licensor and Licensee, which is not incorporated herein, shall not be binding on Licensor or Licensee. This License cannot be amended, or any right or provision waived, except by a written document signed by both parties. b. All obligations, liabilities, indemnities, waivers and releases hereunder shall survive the expiration or termination of Term of this License. 6. INSURANCE. a. Licensee shall maintain in full force during its Fire Training on the Property the following insurance: 1) Commercial General Liability Insurance (Or Its Industry Equivalent). i. Prior to commencement of any use of the Property, Licensee shall provide an evidence of self-insurance to Licensor. ii. Coverage provided under the self-insurance shall extend to the Licensor as if provided on a commercial general liability policy and shall not alter the obligation of this agreement. 2) Worker’s Compensation Insurance. i. Prior to commencement of any use of the Property, Licensee shall provide proof of insurance in compliance with statutory requirements and Employer’s Liability with a limit of not less than One Million dollars ($1,000,000). b. Each policy of insurance / self-insurance required as noted above shall: (i) be in a form and written by an insurer, reasonably acceptable to Licensor, (ii) shall provide coverage on an occurrence basis and not on a claim made basis, and (iii) be maintained at the Licensee’s sole cost and expense. The liability policy shall name Licensor and the Licensor’s Related Parties as additional insured. Evidence of such coverage shall be delivered to Licensor before entry onto the Property by the Licensee or its employees, members or representatives. Licensee’s indemnification, defense and hold harmless obligations shall not be limited to the proceeds of insurance. ATTY/AGR.2024.059/The Sobrato Organization (Sobrato (CVS) Renewal ) (Page 3 of 4)