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I , Upon the transfer of any interest in an Adult -Use cannabis retail business, the <br />regulatory safety permit shall be null and void. Any person, firm or entity desiring to <br />own and operate the Adult -Use cannabis retail business shall make a new <br />application. Prior to or concurrent with the submission of said application the <br />transferee shall obtain all required business licenses, post all required security <br />deposits, acquire all necessary, certificates, permits or other licenses allowing the <br />doing of any act which the person paying or holding the same would not otherwise <br />be entitled to do; and any permit, license, variance or other instrument of approval or <br />evidence that any conditions exist as required by any other section of this Code or <br />by any statute or code provisions of the state must first be obtained or complied with <br />before the doing of any act or thing for which it is required. A fee as established by <br />resolution of the City Council shall be payable for each such application involving <br />transfer of any interest in an existing commercial cannabis retail business. The <br />provisions of this section shall apply to any person, firm, or entity applying for a <br />regulatory safety permit for premises previously used as such establishment. <br />2. Any such transfer of any interest in an existing Adult -Use cannabis retail business or <br />any application for an extension or expansion of the building or other place of <br />business of the commercial cannabis retail business shall require inspection and <br />compliance with section 40-11 of this article. <br />3. The owner or operator of an Adult -Use cannabis retail business shall be responsible <br />for notifying the City of any intention to rename, change management, or convey the <br />business to another person/entity. Notification to the City must be made a minimum <br />of sixty (60) days prior to such transfer. <br />Section 40-14. Limitations on the City's Liability <br />To the fullest extent permitted by law, the City shall not assume any liability whatsoever, <br />with respect to approving any Regulatory Safety Permits pursuant to this article or the <br />operation of any Adult -Use cannabis retail business approved pursuant to this chapter. <br />As a condition of approval of a Regulatory Safety Permit as provided in this chapter, the <br />applicant or its legal representative shall: <br />1. Execute an agreement indemnifying the City from any claims, damages, injuries or <br />liabilities of any kind associated with the registration or operation of the Adult -Use <br />cannabis facility or the prosecution of the applicant or business or its members for <br />violation of federal or State laws; <br />2. Maintain insurance in the amounts and types that are acceptable to the City Attorney <br />or designee; <br />3. Name the City as an additionally insured on all City required insurance policies; <br />Ordinance No. NS -2929 <br />Page 22 of 24 <br />