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§ 5.06 Workers' C omnensation Tnsur nc <br />Corporation shall provide a policy or policies of workers' compensation insurance as <br />required by law. <br />§ 5.07 Other Insurance <br />(a) City shall maintain such insurance protection against loss of or damage to the <br />buildings and personal property located on the Premises (exclusive of fine arts property covered <br />pursuant to section 5.04 and of the Bowers Museum Shop stock -in -trade) as City shall deem <br />appropriate. Corporation shall have no responsibility for such insurance. <br />(b) Corporation shall maintain such insurance protection against loss of or damage to <br />the Bowers Museum Shop stock -in -trade as Corporation shall deem appropriate. City shall have no <br />responsibility for such insurance. <br />§ 5.08 Mortification of Insurance Requirements <br />The City Manager may modify or suspend the requirements imposed on Corporation by this <br />Article if in his reasonable determination, strict compliance is impossible or excessively costly due <br />to insurance market conditions. <br />ARTICLE 6 <br />RESERVED <br />ARTICLE 7 <br />DEFAULTS, REMEDIES AND TERMINATION <br />§ 7.01 Defaults <br />(a) Failure or delay by either party to perform any term or provision of this Agreement shall <br />constitute a default under this Agreement. The injured party shall not initiate the remedies <br />hereinafter provided until the defaulting party has been given written notice of the default, <br />specifying the nature thereof, and a period of sixty (60) days to cure or correct such default. <br />(b) Any failure or delay by either party in asserting any of its rights or remedies as to any <br />default shall not operate as a waiver of any default or of any such rights or remedies, or deprive <br />such party of its right to institute and maintain any actions or proceedings which it may deem <br />necessary to protect, assert or enforce any such rights or remedies. <br />13 <br />