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r 1 89..-104079 3. Licenses Granted. First Party hereby grants unto Second Party a license to use the "parking lot" on the following- described real, estate: Lots Three (3), Five (5) and Seven (7), Block Fourteen, in College Addition to West Lawn, in the City of Grand Island, Hall-County, Nebraska. The foregoing license shall provide the Second Party, its officers, agents, employees, and business invitees use of the "parking lot" as long as.the terms and conditions of this Agreement are met. 4. Expenses to be Shared.. First Party agrees to pay sixty (60) percent and .Second Party agrees to -pay forty (40) percent of the expenses of repairing, maintaining and removing snow from the "parking lot ". Repairs and maintenance to be undertaken and performed under this Agreement shall include, but not be limited to the following: resurfacing, patching, sealing, tarring cracks, striping, sweeping, parking stop blocks, and snow removal. The term "resurfacing" shall include the removal and replacement of Portland Cement concrete or asphaltic concrete surfacing, if necessary. 5. Taxes.and Insurance. First Party agrees to pay the real estate taxes on the "parking lot ". Each party agrees to procure and maintain comprehensive general liability insurance covering their respective liability for the purpose of protecting the parties against all claims, demands, and judgments arising out of injury or death to persons and damage to property occurring upon the "parking lot ". The limits of liability shall be not less than $300,000.00 for bodily injury and $50,000.00 for property damage. Each party shall name the other.as an insured and shall provide the other with evidence of maintenance of the insurance at alI times. 6. Need for Maintenance. The parties agree to jointly confer and determine the need for maintenance, :repair, snow removal and other improvements to the parking lot. If no agreement.can be reached by the parties as to the maintenance and repair needs of the "parking lot ", then this Agreement can be terminated by either party by giving thirty (30) days advance written notice. 7. Compliance with City Code. Each parity agrees to comply with the requirements of the Grand Island City Code and Statutes of the State of Nebraska with regard to the use and maintenance of the "parking lot ". S. Use of "Parking Lot ". The parties to this Agreement agree not to obstruct, impede or interfere, one with the other, in the reasonable use of such "parking lot" and the driveways leading into the parking lot. 2 .. .' t 4 r --- ,r 4 r ---