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2 <br />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.Indemnification; Insurance. The Company shall indemnify and hold the Board <br />harmless from and against any and all claims resulting from damage to any property upon the <br />Property or injury to any person upon the Property. In addition, the Company will maintain <br />commercial general liability insurance coverage in the minimum amount of at least $1,000,000 per <br />occurrence and will designate the Board and the City as additional insureds under any such policy <br />of insurance. Promptly following the Effective Date of this Agreement, the Company will produce <br />to the Board a certificate of insurance evidencing the same. <br />7.Reservation of Rights. The Board reserves for itself the free use of the Property in <br />any manner not inconsistent with the terms of this Agreement. <br />8.Property Interest. The Parties acknowledge that the purpose of the Agreement is <br />for the Company to engage in further study regarding the feasibility of using the Property for <br />residential development. Therefore, the Board agrees that it will not enter into any agreement for <br />the sale of the Property during the term of this Agreement. <br />9.Benefit. The Board and the Company intend that each of the rights and obligations <br />set forth herein shall inure to the burden or benefit of the respective parties and their related <br />companies, successors, and assigns. <br />10.Notices. Any notices required under this Agreement may be provided (a) by hand- <br />delivery (which will be deemed delivered at the time of receipt) or (b) by registered or certified <br />mail, return receipt requested (which will be deemed delivered three (3) days after mailing), to <br />each party’s respective address and the representatives stated below. <br />Board: City of South Bend, Indiana <br />Board of Public Works <br />1308 County-City Building <br />227 W. Jefferson Blvd. <br />South Bend, IN 46601 <br />Attn. Property Development Analyst (DCI) <br />With a copy to: South Bend Legal Department <br />1200 S County-City Building <br />227 W. Jefferson Blvd. <br />South Bend, IN 46601 <br />Attn. Corporation Counsel <br />Cross Community: Cross Community, Inc. <br />707 Sherman Avenue <br />South Bend, IN 46616 <br />Attn. Chief Executive Officer _______________