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;?r" • <br />i' <br />•.J <br />til <br />i-:.‘ ;-■ <br />fr’p*' <br />V’; k ■ <br />'■^.lrx. <br />i l: ;>- <br />^ t. •■• i <br />■i- <br />■fy <br />» ■ <br />V-.' <br />;s:'t <br />m-';•:. r <br />’ ‘ i <br />\ •• frm'-.1 <br />■''• f <br />special assessments and charges lawfully made by any governmental <br />body for public improvements that may be secured by a lien on the <br />Project; provided that with respect to special assessments or <br />other governmental charges that may lawfully be paid in <br />installments over a period of years# City shall be obligated to <br />pay only such inscallments as are required to be paid during the <br />Term of the Lease as and when the same become due. City shall not <br />1)^ required to pay any federal# state or local income# <br />Inheritance# estate# succession# transfer, qift, franchise# gross <br />receipts# profit# excess profit# capital suock# corporate# or <br />other similar tax payable by Authority# its successors or assigns# <br />unless such tax is made in lieu of or as a substitute for any real <br />estate or other tax upon the Project. <br />City may# at City's expense and in City's name, in good <br />faith contest any such ta.xes, assessments# utility and other <br />charges and# in the event of any such contest# may permit the <br />taxes# assessments or other charges so contested to remain unpaid <br />during the period of such contest and any appeal therefrom unless <br />Authority shall notify City that# in the opinion of Independent <br />Counsel# by nonpayment of any such items the interest of Authority <br />in the Project wil . be materially endangered or the Project or any <br />part thereof will be subject to loss or forfeiture# in which event <br />City shall promptly pay such taxes# assessments or charges or <br />provide Authority with full security against any loss which may <br />result from nonpayment# in form satisfactory to Authority. <br />Section 7.3, Liability Tnaurance. From and after the <br />Completion Date# City shall procure and maintain continuously in <br />effect with respect to the Project# insurance against liability <br />for injuries to or death of any person or damage to or loss of <br />property arising out of or in any way relating to the maintenance# <br />use or operation of the Project or any part thereof# and will <br />cause the Contractor to maintain similar Insurance against all <br />similar liabilities on its part. The Net Proceeds of all such <br />insurance shall be applied toward extinguishment or satisfaction <br />of the liability with respect to which the insurance proceeds may <br />be paid. As an alteiiiative to the purchase of liability <br />insurance# City may self-insure against such liabilities in <br />accordance with applicable law. <br />Section 7.4. indemnit^y. City assumes all risks and <br />liabilities# whether or not covered by insurance# for loss or <br />damage to the Project and for injury to or death of any person or <br />damage to any property# whether such injury or death be with <br />respect to agents or employees of City or of third parties# and <br />whether such property damage be to City's property or the <br />property of others# which is proximately caused by the negligent <br />conduct of City# its officers# employees and agents. City hereby <br />assumes responsibility for and agrees to reimburse Authority# its <br />officers# agents or employees# for all liabilities# obligations# <br />losses# damages# penalties# claims# actions# costs and expenses <br />7-2 <br />'■M:-