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<br />e <br /> <br />e <br /> <br />are permissible, provided that they do not contradict the terms of this Agreement. The <br />Association shall furnish the City with a Certificate of Insurance evidencing such <br />coverage. Such insurance shall include contractual liability insuring the indemnity <br />agreements contained in this Agreement. <br /> <br />VIII. <br /> <br />The Association shall not assign, transfer, convey, sublet or otherwise dispose of the <br />Agreement, or any part, to any person, partnership, company, corporation, club or <br />association without prior written consent of the City of La Porte. <br /> <br />IX. <br /> <br />This instrument contains the entire Agreement between the parties relating to the rights <br />granted in the Agreement and the obligations assumed as a part of the Agreement. Any <br />representations or modifications concerning this Agreement shall have no force or effect <br />unless modified in writing, and signed by each party to the Agreement. <br /> <br />X. <br /> <br />This Agreement shall be in force for a period of five (5) years, beginning with the date of <br />its execution. At the end of the term of the Agreement, both the City and the Association <br />have the option to continue the Agreement for an additional five (5) year term. Such option <br />shall be executed in writing by the Commissioner of the Association and the City Manager <br />or his designee. Should either party choose not to exercise their option, the Agreement <br />shall be considered to be at an end. During the term of this Agreement, the Association <br />and the City may enter into separate agreements regarding future capital improvement <br />projects or other youth baseball facilities that may be contemplated in the City. <br /> <br />XI. <br /> <br />The Association shall maintain a favorable financial position during the term of this <br />Agreement. The Association will provide an official annual report on the Association's <br />fiscal condition to the City, comprised of a balance sheet, revenue statement and expense <br />statement. The City reserves the right to review the internal financial control structure of <br />the Association and to perform other audit steps as necessary to protect its interests. <br /> <br />page 40f6 <br />