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7.A. - Page 242 <br /> consult with Developer's insurance agent and City shall consult with its Risk Manager, and the <br /> insurance limits shall be increased, if appropriate, to equal the then-prevailing commercially <br /> reasonable levels of insurance carried by prudent and responsible owners of similar <br /> privately-owned parking facilities in San Mateo County. <br /> (c) Developer acknowledges and agrees that it is solely responsible for <br /> the operation and maintenance of the Public Parking and that City shall have no liability for any <br /> claims arising out of such operation and maintenance of the Public Parking. <br /> 2.3.5 Restoration After Casualtv. Subj ect to the limitations contained in <br /> this Section 2.3.5, in case of a fire or other casualty resulting in damage or destruction to the <br /> parking facilities during the Term, to the extent the proceeds of insurance are sufficient to <br /> reconstruct the parking facilities (and if each lender holding a mortgage upon the Site makes the <br /> proceeds of insurance sufficient to reconstruct the parking facilities available for that purpose). <br /> Developer shall restore such parking facilities, including the Public Parking, as nearly as feasible <br /> to its condition prior to the casualty (except that Developer shall have the right to make <br /> reasonable alterations). In the event of a casualty which is not of the type included within the <br /> casualty insurance coverage required to be maintained hereunder (for example, an earthquake) <br /> resulting in damage or destruction to the parking facilities, Developer shall not be obligated to <br /> restore such parking facilities; provided, however, that if such casualty also resulted in damage <br /> or destruction to Developer's Project and if Developer elects to restore such buildings within the <br /> Project, Developer shall also restore the parking facilities. <br /> 2.3.6 Developer's Obli�ation to Pav Taxes. During the Term, Developer <br /> shall pay all lawfully required property taxes and assessments, including, without limitation, real <br /> estate and personal property taxes, and any and all utility, city, or county assessments, lawfully <br /> assessed, levied, confirmed, or imposed during the Term of this Parking Covenant and <br /> Agreement, whether or not now customary or within the contemplation of City and Developer. <br /> Developer will have the right to contest the amount or validity, in whole <br /> or in part, of any tax or assessment by appropriate proceedings diligently conducted in good <br /> faith, only after paying the tax or posting such security as may be reasonably and customarily <br /> necessary in order to protect the Public Parking against loss or forfeiture. Upon the termination <br /> of those proceedings, Developer will pay the amount of the tax or part of the tax as finally <br /> determined, the payment of which may have been deferred during the prosecution of the <br /> proceedings, together with any costs, fees, interest, penalties, or other related liabilities. City <br /> will not be required to join in any contest or proceedings unless the provisions of any law or <br /> regulations then in effect require that the proceedings be brought by or in the name of City. In <br /> that event, City will join in the proceedings or permit them to be brought in its name; however, <br /> City will not be subjected to any liability for the payment of any costs or expenses in connection <br /> with any contest or proceedings, and Developer will indemnify City against and hold City <br /> harmless from any of those costs and expenses. <br /> 82483.00009\7966105.7 ATTY/AGR/2013.118/BLOCK 2 HUNTER STORM <br /> 7 REV: 07-19-13 PT <br />