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1. Promptly notify Grantee of any claim or legal proceeding <br />• which gives rise to such right; <br />2. Afford Grantee the opportunity to participate in and fully <br />control any compromise, settlement or other resolution or <br />disposition of such claim or proceeding; unless, however, the City, <br />in its sole discretion, determines that its interests cannot be <br />represented in good faith by Grantee in which case the Grantee <br />shall be excused from any further obligation to indemnify the City; <br />and <br />3. Fully cooperate with the reasonable requests of Grantee, at <br />Grantee's expense, in its participation in, and control, compromise, <br />settlement or resolution or other disposition of such claim or <br />proceeding subject to paragraph (2) above. <br />10.08 Liability Insurance. <br />A. Grantee shall maintain, throughout the term of the Franchise, <br />liability insurance insuring Grantee and the City with regard to all damages <br />mentioned in paragraph A of Section 10.07 hereof, in the minimum <br />amounts of: <br />. 1. Two Million and No/100 Dollars 2,000,000.00) for bodily <br />injury or death to any one (1) Person; <br />2. Three Million and No/100 Dollars ($3,000,000.00) for bodily <br />injury or death resulting from any one accident; <br />3. Three Million and No/100 Dollars ($3,000,000.00) for all <br />other types of liability. <br />B. At the time of acceptance, Grantee shall furnish to the City a <br />certificate evidencing that a satisfactory insurance policy has been <br />obtained and naming the City as an additional insured. Said certificate <br />shall be approved by the City and such insurance policy shall require that <br />the City be notified thirty (30) days prior to any expiration or cancellation. <br />C. All insurance policies maintained pursuant to this Section 10.08 <br />shall contain the following endorsement: <br />"It is hereby understood and agreed that this <br />insurance policy may not be cancelled by the surety, <br />nor may the intention not to renew be stated by the <br />surety until thirty (30) days after receipt by the City, by <br />registered mail, of a written notice of such intention to <br />• cancel or not to renew." <br />35 <br />