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Section 40-13. Transfer of Ownership. 1. Upon the transfer of any interest in an commercial cannabis business the Rregulatory Ssafety Ppermit shall be null and void. Any person, firm or entity desiring to own and operate the commercial cannabis business Adda;t-'—'segos retail business shall make a new Regulatory Safety Permit application. Prior to or concurrent with the submission of said application the transferee shall obtain all required business licenses, post all required security deposits, acquire all necessary, certificates, permits or other licenses allowing the doing of any act which the person paying or holding the same would not otherwise be entitled to do; and any permit, license, variance or other instrument of approval or evidence that any conditions exist as required by any other section of this Code or by any statute or code provisions of the state must first be obtained or complied with before the doing of any act or thing for which it is required. A fee as established by resolution of the City Council shall be payable for each such application involving transfer of any interest in an existing commercial cannabis retail business. The provisions of this section shall apply to any person, firm, or entity applying for a Rregulatory Ssafety Ppermit for premises previously used as such establishment. 2. Any such transfer of any interest in an existing commercial cannabis business dl Q-"1^ ^^^^^-h'S •^'a" WS'Ress or any application for an extension or expansion of the building or other place of business of the commercial cannabis retail business shall require inspection and compliance with section 40-11 of this article. 3. The owner or operator of asenanRabisTetail bUG'Ress commercial cannabis business shall be responsible for notifying the City of any intention to rename, change management, or convey the business to another person/entity. Notification to the City must be made a minimum of sixty (60) days prior to such transfer. Section 40-14. Limitations on the City's Liability To the fullest extent permitted by law, the City shall not assume any liability whatsoever, with respect to approving any Regulatory Safety Permits pursuant to this article or the operation of any commercial cannabis Adult Use GaRRabis retail business approved pursuant to this chapter. As a condition of approval of a Regulatory Safety Permit as provided in this chapter, the applicant or its legal representative shall: 1. Execute an agreement indemnifying the City from any claims, damages, injuries or liabilities of any kind associated with the registration or operation of the commercial cannabis business facility or the prosecution of the applicant or business or its members for violation of federal or State laws; 2. Maintain insurance in the amounts and types that are acceptable to the City Attorney or designee; Ordinance No. NS -XXX Page 26 of 35 75B-36