ROSENOW SPEVACEK GROUP 3 - 2005 - Laserfiche WebLink

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claims. As such, Developer shall pay all real property taxes and general assessments levied and assessed against the Premises during the term of this License. If it shall be Developer's obligation to pay such real property taxes and assessments hereunder, City shall use its best efforts to cause the Premises to be separately assessed from other real property owned by the City. If City is unable to obtain such a separate assessment, the assessor's evaluation based on the building and other improvements that are a part of the Premises shall be used to determine the real property taxes. Ifthis evaluation is not available the parties shall equitably allocate the property taxes between the building and other improvements that are a part of the Premises and all buildings and other improvements included in the tax bill. In making the allocation the parties shall reasonably evaluate the factors to determine the amount of the real property taxes so that the allocation of the building and other improvements that are a part of the Premises will not be less than the ratio of the total number of square feet ofthe building and other improvements that are a part of the Premises bear to the total number of square feet in all buildings and other improvements included in the tax bill. Real property taxes attributable to land in the Premises shall be determined by the ratio that the total number of square feet in the Premises bears to the total number of square feet of land included in the tax bill. 10. Eminent Domain: If more than twenty-five (25%) percent ofthe Parking Garage or the premises shall be taken or appropriated by any public or quasi-public authority under the power of eminent domain, either party hereto shall have the right to terminate this License, and City shall be entitled to any and all income, rent, award, or any interest therein whatsoever which may be paid or made in connection with such public or quasi- public use or purpose, and Licensee shall have no claim against City for the value of any unexpired term ofthis License. If more than 25% ofthe premises are taken, and neither party elects to terminate as herein provided, the License fees thereafter to be paid shall be equitably reduced. If any part of the Parking Garage or the premises may be so taken or appropriated, City shall have the right, at its discretion, to terminate this License, and shall be entitled to the entire award as above provided. II. Insurance: (a) Fire Insurance. City, at its cost shall maintain during the term of this License on the Premises a policy or policies of standard fire and extended coverage insurance to the extent of at least ninety (90%) percent of full replacement value thereof, or a policy of self- msurance. (b) Liability Insurance. Developer at its sole cost and expense shall maintain during the term of this License public liability and property damage insurance with a single combined liability limit of one million dollars ($1,000,000) and property damage limits of not less than one million dollars ($1,000,000), insuring against all liability of Developer and its authorized representatives arising out of and in connection with Developer's use or occupancy of the Parking Garage. Both public liability insurance and property damage insurance shall insure performance by Developer of the indemnity provisions provided in this License, but the limits of such insurance shall not, however, limit the liability of Developer hereunder. Both City and Developer shall be named as additional insureds and 5