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<br />2 <br />City’s Responsibilities <br /> <br />a. <br /> <br /> <br />3. Term. This Agreement and the Permit granted to the parties hereunder shall commence <br />as of the Effective Date and shall continue until delivery of the Property to the New <br />Location. <br /> <br />4. No Interest in Land. Permittees understand, acknowledge and agree that this Agreement <br />does not create an interest or estate in Permittees' favor in the City Right-Of-Way. The <br />City retains legal possession of the full boundaries of its right-of-way and this <br />Agreement merely grants to Permittees the personal privilege to occupy and use the <br />City Right-of-Way as described above throughout the term of this Agreement. <br /> <br />5. No Vested Right. Notwithstanding any expenditure of money, time and/or labor by <br />Permittees under this Agreement shall in no event be construed to create an <br />assignment coupled with an interest or any vested rights in favor of Permittees. <br />Permittees shall expend any time, money or labor at Permittees' own risk and peril. <br /> <br />6. 6. <br /> <br /> <br /> <br /> <br /> <br /> <br />Permanent Removal of Encroachments Upon Termination. At such time as this <br />Agreement and the License herein granted to Permittees is terminated, Permittees <br />shall, at the option of the City, remove, at Permittees's sole cost and expense, any and <br />all encroachments owned or maintained by Permittees in the City Right-Of-Way. nt <br />to the contrary notwithstanding, Permittees shall immediately remove, at its sole cost <br />and expense, any such encroachments in the event that the City determines that such <br />removal is necessary or convenient for the installation, repair or replacement o utilities <br />or other public improvements in the City Right-Of-Way, or in the event that the City <br />determines that any such encroachments interfere with pedestrian or vehicular traffic, <br />public utilities, or constitute a safety hazard. Any replacement or repair of such <br />encroachments shall be at the sole cost and expense of the Permittees. If the Permittees <br />fails to exercise its duties under this paragraph, the City shall have the right to remove <br />the encroachments or improvements and restore the City Right-Of-Way, the full and <br />complete cost of which shall be borne by Permittees. Permittees covenants and agrees <br />to reimburse the City its full cost and expense for any such removal and/or restoration. <br /> <br />7. Insurance. Permittees shall maintain at all times during the term of this Agreement, at <br />Permittees' sole cost, a policy or policies of comprehensive general liability coverage <br />on an occurrence basis from an insurance company licensed with the State of Indiana <br />or other insurer approved by Permittees with at least Ten Million Dollars <br />($10,000,000.00) single limit coverage on all risks. Such policy or policies shall <br />provide that the coverage afforded thereunder shall not be canceled, terminated or <br />materially changed until at least thirty (30) days written notice has been given to the <br />City. Permittees shall name the City as an additional named insured and shall furnish <br />the City with a Certificate of Insurance, duplicate policies or certificates evidencing