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All Coverages: Each insurance policy required by this clause shall be <br />endorsed to state that coverage shall not be suspended, voided, <br />canceled by either party, reduced in coverage or in limits except after <br />thirty (30) days' prior written notice by certified mail, return receipt <br />requested, has been given to the City. <br />e. Acceptability of Insurers. Insurance is to be placed with insurers with a Best's <br />rating of no less than A: VII. <br />f. Verification of Coverage: Operator shall furnish the City with certificates of <br />insurance and with original endorsements effecting coverage required by this <br />clause. The certificates and endorsements for each insurance policy are to be <br />signed by a person authorized by that insurer to bind coverage on its behalf. <br />All certificates and endorsements are to be received and approved by the City <br />before the commencement of the Term. The City reserves the right to require <br />complete certified copies of all required insurance policies at any time. <br />8. Safety and Accidents. Operator shall comply with all laws and industrial safety <br />standards. If a death, serious personal injury or substantial property damage occurs in <br />connection with the performance of this Agreement, Operator shall immediately <br />notify the City's Risk Management Office by telephone. Any reports prepared by <br />Operator shall also be promptly submitted to the City's Risk Management Office. <br />9. Assignment. City has entered into this Agreement in part because of the <br />qualifications of Operator. Accordingly, Operator shall not assign or transfer this <br />Agreement or any of the rights or privileges herein agreed without the express written <br />consent of City, which consent may be withheld with or without cause. <br />10. Termination. City reserves the right to immediately terminate this Agreement and <br />revoke the License granted hereby in the event any one of the following <br />circumstances occurs during the term of this Agreement: <br />a. The failure of Operator to maintain the quality and conditions of service <br />imposed under the terms of this Agreement, upon two (2) clays written notice <br />to correct the condition(s) objected to; <br />b. The failure of the Operator to keep in full force and effect at any time the <br />policies and amounts of Insurance required in this Agreement upon five (5) <br />days written notice to Operator to correct the condition(s); <br />C. The happening of any act which results in the suspension or revocation of the <br />rights, power, licenses, permits and authorities necessary for the conduct and <br />operation of the City's parking facilities as herein authorized; <br />d. Any substantial change in the ownership or proprietorship of Operator that, in <br />the opinion of the City, is not in the best interest of the City or of the public; <br />e. A petition under any part of the federal bankruptcy uptcy laws, or an action under <br />any present or future solvency law or statute shall be filed by or against <br />Page 6of10 <br />13/2/14 <br />