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the exercise of the permission given herein. Promoter will make no claim to any such interest. Any violation of this provision will immediately void and terminate this Agreement. 5. RECORD KEEPING AND AUDIT A. Promoter shall establish and maintain separate accounting records for the Event. Promoter's accounting system shall conform to generally- accepted accounting principles and all records shall provide a breakdown of total costs and revenues associated with the Event. B. All Promoter's records of revenues and repairs pertaining to the Event referenced herein shall be kept for three years and made available at all times for audit by City upon request G' f�1 ►f ?- �I�I�i7�I►IIITK�7►�If7:C�C� Promoter shall, during the entire term of this Agreement, be construed to be an independent contractor and not an employee of the City. This Agreement is not intended nor shall it be construed to create an employer - employee relationship, ajoint venture relationship, or to allow the City to exercise discretion or control over the professional manner in which Promoter performs the services which are the subject matter of this Agreement; however, the services to be provided by Promoter shall be provided in a manner consistent with all applicable standards and regulations governing such services. Promoter shall pay all salaries and wages, employer's social security taxes, unemployment insurance and similar taxes relating to employees and shall be responsible for all applicable withholding taxes. INSURANCE Prior to undertaking performance of any work relative to the Event under this Agreement, Promoter shall maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described below: A. Commercial General Liability Insurance. Promoter and each of its operators and subcontractors shall maintain commercial general liability insurance which shall include, but not be limited to protection against claims arising from bodily and personal injury, including death resulting therefrom and damage to property, resulting from any act or occurrence arising out of the operations or performance of this Agreement by Promoter, its operators or subcontractors, including, without limitation, acts involving vehicles. The amounts of insurance shall be not less than the following: single limit coverage applying to bodily and personal injury, including death resulting therefrom, and property damage, in the amount of $5,000,000 per occurrence. Such insurance shall (a) name the City, its officers, employees, agents, volunteers and representatives as additional insured(s); (b) be primary and not contributory with respect to insurance or self - insurance programs maintained by the City; and (c) contain standard separation of insureds provisions. B. Business automobile liability insurance, or equivalent form, with a combined single limit of not less than $1,000,000 per occurrence. Such insurance shall include coverage for owned, hired and non -owned automobiles. C. Workers' Compensation Insurance. In accordance with the provisions of California State law, Promoter, if Promoter has any employees, is required to be insured against liability for worker's compensation or to undertake self - insurance. Prior to commencing the performance of the work under this Agreement, Promoter agrees to obtain and maintain any employer's liability insurance with limits not less than $1,000,000 per accident. Exhibit 3 a 25C -32