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200905599 and the Improvements thereon result in any real or personal property taxes being assessed or levied upon any part of the City Property, any such taxes shall be paid by the City. 7. Insurance. a. Lessee's Insurance. Lessee shall obtain and maintain in full force and effect during the Term hereof, at its sole cast and expense, comprehensive commercial general liability insurance issued on an occurrences basis in which the limits of liability for primary coverage shall not be less than Three Million and Na/100 Dollars ($3,000,000.00) per occurrence, not less than Five Million and No/100 Dollars ($5,000,000.00) in the aggregate, with property damage limits of Five Hundred Thousand and No/100 Dollars ($500,000.00). Such insurance shall name Lessors as additional insureds thereunder, and contain cross-liability and severability of interest endorsements, state that such insurance is primary insurance as regards any other insurance carried by Lessee, and contain a waiver of subrogation in favor of Lessors. The insurance coverage requirements provided for in this Section 7 shall be reviewed and revised, if deemed appropriate by the Farties, not less frequently than once every three (3) years, with any increase reasonably requested by any Party being reviewed and approved in the reasonable discretion of the other Parties, with consideration given to then standard commercial practices in maintaining insurance coverage. The carrying of and requirement for insurance as set Earth in this Lease shall not alter or reduce the requirements for carrying of insurance by Event Center as set Earth in the Management Contract. b. Lessors' Insurance. i. Event Center Property. As required under the terms of the City Agreement, the City shall obtain and maintain in full force and effect during the term of the City Agreement, insurance on the existing buildings and improvements on the Event Center Property and the Event Center Improvements in an amount not less than the full replacement value thereof. From and after the termination of the City Agreement the City agrees, to the extent not then required to be insured under the terms of any management contract with Event Center, that the City, at its sole cost and expense, shall care fire and "all risk" extended coverage/named perils insurance for the full replacement value of all improvements now or hereafter constructed an the Event Center Property. The City and Event Center hereby agree that any such property damage insurance as may be required to be carried by Event Center under any management contract agreed to between the City and Event Center shall be required to be fire and "all risk" extended coverage/named perils insurance for the full replacement value of all improvements now or hereafter constructed on the Event Center Property. Any such insurance, whether carried by the City or Event Center, shall name Lessee as an additional insured and loss payee thereunder, cantain cross-liability and severability of interest endorsements, state that such insurance is primary insurance as -10-