2013-037 Approving a Lease Agreement between the City of Paris and Valley of the Caddo Museum and Cultural Center, Inc.

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$300,000.00 per occurrence and $600,000 aggregate which names the City of Paris, Texas, its elected officials, officers and employees as an Additional Insured. A copy of this policy or a properly executed and complete Certificate of Insurance verifying this policy shall be provided to Lessor prior to execution of this Lease Agreement. 18. Lessor shall be named as an additional insured under the above - described policies, and each such policy shall contain endorsements waiving subrogation rights against Lessor and providing that such policies may not be cancelled unless Lessor is provided with written notice of such intent to cancel at least thirty (30) days prior to any such cancellation. Each such insurance policy shall be procured from a company authorized to do business in the State of Texas and in good financial standing. Lessee shall provide evidence satisfactory to Lessor that such coverage has been procured and is being maintained at all times during the Primary Term and during any renewal or extension of this Agreement. 19. Default and Termination. Lessor may terminate this Lease Agreement for default upon thirty (30) days written notice to Lessee, for any of the following reasons: (a) Lessee vacates or abandons the Leased Premises for a period in excess of thirty (30) days; (b) Lessee causes material damage to the Leased Premises or Property and fails to repair said damage to satisfaction of Lessor within sixty (60) days of receipt of written notice; (c) Lessee fails to purchase and maintain the necessary insurance policies as required herein; (d) Lessee is the subject of any voluntary or involuntary filing of a petition in bankruptcy; (e) There is any voluntary or involuntary assignment of any of Lessee's assets for the benefit of creditors; (f) Lessee defaults in the performance of any of the terms, covenants and conditions set forth in this Agreement. If Lessee fails to timely cure, following written notice, any of the events of default listed above, Lessor may terminate this Lease Agreement, enter the Leased Premises and take immediate possession of the Premises and remove Lessee's effects without being deemed guilty of any nature of trespass. 5