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act or omission of any Permitted Party. The provisions of this <br />Paragraph 7 shall survive the termination of the license <br />granted herein. <br /> <br /> 8. Liability Insurance. Licensee shall, at its sole <br />cost and expense, purchase and keep in force at all times <br />during the term of this Agreement, a policy or policies of <br />general comprehensive liability insurance, with limits of <br />liability of not less than Five alllion Dollars <br />(~5,000,000.00). The policy or policies shall be issued by an <br />insurance company licensed to do business in the State of <br /> <br />California with a numerical rating of at least and <br /> <br />letter rating of at least in the most recent <br /> <br />addition of Best's Guide Insurance Reports. Licensee shall <br />deliver to Licensor certificates evidencing such insurance upon <br />the effective date of this Agreement. <br /> <br /> 9. Damage. In the event the E1 Charro Route or any <br />portion thereof is damaged or destroyed by earthquake, flooding <br />or other Act of God, Licensor may, at its sole option, elect to <br />terminate this Agreement and the license granted pursuant to <br />this Agreement by delivering written notice to Licensee within <br />one hundred eighty (180) days after such damage or destruction, <br />in which event this Agreement shall be terminated. In the <br />event Licensor does not elect to terminate this Agreement and <br /> <br /> -7- <br /> vse/pbmnd. txt <br /> <br /> <br />