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of any of the above insurance types throughout the term of this Option Agreement. Any increase or <br />decrease in insurance will be as deemed by the County and City Risk Manager as appropriate to <br />adequately protect Optionor. <br />Optionor shall notify Optionee in writing of changes in the insurance requirements. If Optionee does <br />not deposit copies of acceptable certificates of insurance and endorsements with Optionor <br />incorporating such changes within thirty (30) days of receipt of such notice, this Option Agreement <br />may be in breach without further notice to Optionee, and Optionor shall be entitled to all legal <br />remedies. <br />The procuring of such required policy or policies of insurance shall not be construed to limit Optionee's <br />liability hereunder nor to fulfill the indemnification provisions and requirements of this Option Agreement, <br />nor in any way to reduce the policy coverage and limits available from the insurer. <br />12. ASSIGNMENT (PMO10.1 S) <br />The Optionee may assign its right, title and interest in and to this Option Agreement to an affiliated nonprofit <br />public benefit corporation, or to a limited partnership whose general partner is a nonprofit corporation or <br />limited liability company affiliated with the Optionee, subject to the Optionor's right to reasonably approve <br />the agreement to effect such assignment. Otherwise, this Option Agreement shall not be sold, assigned, or <br />otherwise transferred without the prior written consent of Optionor, which consent may be withheld in the <br />Optionor's sole and absolute discretion. Failure to obtain Optionor's approval of the assignment agreement <br />or required written consent, as applicable, shall render said sale, assignment, or transfer void. <br />If Optionee hereunder is a corporation or an unincorporated association or partnership, the sale, transfer, or <br />assignment of any stock or interest in said corporation, association, or partnership in the aggregate exceeding <br />twenty-five percent (25%) shall be deemed an assignment within the meaning of this clause. <br />13. EXERCISE OF OPTION TO LEASE (PMO11.1 S) <br />At any time during the Option Term that Optionee shall have performed all conditions as set forth in Section <br />5 (Conditions) of this Option Agreement, Optionee may exercise the Option by giving Optionor written <br />notice of election to do so, accompanied by properly executed copies of the Lease in triplicate. County and <br />Agency hereby represent and warrant that concurrent with execution of this Option Agreement, County and <br />Agency have entered into that certain Crossroads at Washington - Joint Powers Agreement ("JPA") and such <br />agreement is in full force and effect. <br />14. EXECUTION OF LEASE & MERGER OF PARCELS (PM012.1 N) <br />After confirmation that the Optionee has performed all conditions as set forth in Section 5 (Conditions) of <br />this Option Agreement, Optionor shall execute any and all documents necessary to merge the Premises under <br />a tenants -in -common ownership structure and execute the Lease within fourteen (14) days of receipt of <br />Optionee's notice of election to exercise the Option and receipt of the Lease executed by Optionee. <br />15. TERMINATION (PM014.1 S) <br />Failure of Optionee to fully and satisfactorily meet the terms and conditions of this Option Agreement within <br />the time limits stated shall absolutely and conclusively terminate Optionee's rights hereunder. <br />Pa e 11 0 19 <br />OPTION AGREEMENT - CROSSROADS <br />1 K�e <br />