2011-016 RES LEASE AGREEMENT WITH RRV VETERANS MEMORIAL INC

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solely responsible for obtaining all necessary easements for utilities, drainage and/or access to the Memorial Project. J. LESSEE shall be solely responsible for the security of the leased premises and for the protection of the Memorial site before, during and after construction of the Memorial and throughout the term of the Lease Agreement. Provided, however LESSOR and its authorized agents may enter into and upon the Land and leased premises at any time for the purposes of inspection, upkeep, maintenance or securing the leased premises throughout the term of this Lease. K. LESSEE shall not erect, attach, exhibit or display in, on, or about said leased Premises any sign without first obtaining prior approval of the sign design, location and size from LESSOR including a permit where necessary. L. During the construction and development phase of the Memorial, LESSEE agrees to obtain and maintain an insurance policy or policies for construction liability coverage and/or Builder's Risk coverage and Owner's liability coverage. This insurance shall be provided by insurance companies authorized to write insurance policies in the State of Texas. All insurance premiums shall be paid solely by LESSEE. The insurance policies shall have limits of not less than $250,000.00 per person and $500,000.00 for any single occurrence for bodily injury or death and shall protect LESSOR and LESSEE as well as any other person or persons LESSEE may designate, against all liability for injury or damage to any person or property in any way arising out of demolition, excavation, or construction work on the Memorial, land or leased Premises. LESSEE shall include in all construction contracts entered into by it, in connection with any or all of the construction work, a provision requiring all contractors and subcontractors to indemnify, hold harmless, defend and insure LESSOR, its elected officials, officers, agents, and employees, against the risk of death, injury, or damage to persons or property, direct or consequential, arising out of or in connection with the performance of any or all of such construction work. LESSEE shall require all contractors and subcontractors to furnish liability insurance coverage and workers compensation coverage as required by this Agreement and/or state law. LESSEE shall provide copies of said insurance policies and/or certificates of insurance to LESSOR during construction and development of the Memorial. M. LESSEE shall not lease, sublease, rent or sublet the Land or leased premises, or any part thereof, without the prior written consent of LESSOR. No sublease, sublet or partial lease of the leased Premises shall have any binding effect on LESSOR without prior written approval of the Paris City Manager as authorized by formal action of the City Council of the City Red River Valley Veterans Memorial Lease Page 4 of 16