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20Q945599 regards any other insurance carried by Lessee, and contain a waiver of subrogation in favor of Lessee. ii. Former Froperty. Former shall obtain and maintain in full force and effect during the Term hereof, at its sole cost and expense, fire and "all risk" extended coverage/named perils insurance for the full replacement value of all improvements now or hereafter constructed on the Former Property including, but not limited to, the Improvements. Such insurance shall name Lessee as an additional insured and loss payee thereunder, contain cross- liabilityand 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 Lessee. iii. City Froperty. The City shall obtain and maintain in full force and effect during the Term hereof, at its sole cost and expense, fire and "all risk" extended coverage/named perils insurance for the full replacement value of all improvements now ar hereafter constructed on the City Property including, but not limited to, the City Improvements. In addition to naming Wells Fargo as an insured, such insurance shall also name Lessee as an additional insured and loss payee thereunder, 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 Lessee. iv. Personal Property. Each of the Parties hereby agrees to be responsible for carrying property damage insurance with respect to its own personal property as located on the Leased Premises or any portion thereof; any such policy carried by any of the Parties shall contain waiver of subrogation in favor of the other Parties. Lessee shall reimburse Former and the City for its proportionate share (16.4%) of the premium paid by such Lessor with respect to the insurance coverage coverages required under subsections i, ii and iii of this Section 7(b) during the Term hereof. Lessee shall reimburse Event Center for Lessee's proportionate share (8.33%) ofthe premium paid by Event Center with respect to the insurance coverage coverages required under subsections i, ii and iii of this Section 7(b) during the Term hereof. c. Evidence of Insurance. Prior to the Commencement Date, each Party shall provide evidence of the insurance coverage to be maintained by such Party under this Section 7 to the other Parties, represented by a certificates of insurance issued by the insurance carrier(s). All such insurance policies and/or certificates of insurance required in this Section 7 shall state that all Parties will be notified in writing thirty (30) days prior to cancellation, material change or non-renewal of such insurance. Timely renewal certificates shall be provided to any Party upon request. -11-