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5. Hazardous Materials. The Company shall not cause or permit, knowingly or <br />unknowingly, any hazardous material to be brought or remain upon, kept, used, discharged, leaked, <br />or emitted upon the Property. <br />6. Indemn licati0 q Insurance. Company shall indemnify and hold Board harmless <br />from and against any and all claims resulting from damage to any property upon the Property or <br />injury to any person upon the Property. In addition, Company will maintain commercial general <br />liability insurance coverage in the minimum amount of at least $1,000,000 per occurrence and will <br />designate the Board and the City as additional insureds under any such policy of insurance. <br />Promptly following the Effective Date of this Agreement, Company will produce to Board a <br />certificate of insurance evidencing the same. <br />7. Reservation of Rights. Board reserves for itself the free use of the Property in any <br />manner not inconsistent with the terms of this Agreement. <br />8 Property Intcrest The Parties acknowledge that the purpose of the Agreement is <br />for Company to engage in further study regarding the feasibility of using the Property for a <br />residential development. Therefore, Board agrees that it will not enter into any agreement for the <br />sale of the Property during the term of this Agreement. <br />9. Benefit. Board and Company intend that each of the rights and obligations set forth <br />herein shall inure to the burden or benefit of the respective parties and their related companies, <br />successors, and assigns. <br />10. Governing. This Agreement shall be governed and construed in accordance <br />with the laws of the State of Indiana. <br />[Signature pages follow.] <br />2 <br />