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All Coverages: Each insurance policy required by this clause shall be endorsed to state that coverage shall not be suspended, voided, canceled by either party, reduced in coverage or in limits except after thirty (30) days' prior written notice by certified mail, return receipt requested, has been given to the City. e. Acceptability of Insurers. Insurance is to be placed with insurers with a Best's rating of no less than A:VII. f Verification of Coverage: Operator shall furnish the City with certificates of insurance and with original endorsements effecting coverage required by this clause. The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements are to be received and approved by the City before the commencement of the Term. The City reserves the right to require complete certified copies of all required insurance policies at any time. Safety and Accidents. Operator shall comply with all laws and industrial safety standards. If a death, serious personal injury or substantial property damage occurs in connection with the performance of this Agreement, Operator shall immediately notify the City's Risk Management Office by telephone. Any reports prepared by Operator shall also be promptly submitted to the City's Risk Management Office. 9. Assignment. City has entered into this Agreement in part because of the qualifications of Operator. Accordingly, Operator shall not assign or transfer this Agreement or any of the rights or privileges herein agreed without the express written consent of City, which consent may be withheld with or without cause. 10. Termination. City reserves the right to immediately terminate this Agreement and revoke the License granted hereby in the event any one of the following circumstances occurs during the term of this Agreement: 12/2/14 a. The failure of Operator to maintain the quality and conditions of service imposed under the terms of this Agreement, upon two (2) days written notice to correct the condition(s) objected to; b. The failure of the Operator to keep in fall force and effect at any time the policies and amounts of Insurance required in this Agreement upon five (5) days written notice to Operator to correct the condition(s); C. The happening of any act which results in the suspension or revocation of the rights, power, licenses, permits and authorities necessary for the conduct and operation of the City's parking facilities as herein authorized; d. Any substantial change in the ownership or proprietorship of Operator that, in the opinion of the City, is not in the best interest of the City or of the public; e. A petition under any part of the federal bankruptcy laws, or an action under any present or future solvency law or statute shall be filed by or against Page 6 of 10 25B -10