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<br />Article IV. <br />INSURANCE <br /> <br />IV.1 During the term of this Agreement, and any extensions thereof, SHOREACRES <br />shall keep and maintain a comprehensive genera11iability policy, with LA PORTE <br />as Additional Named Insured, with limits of liability of not less than Three <br />Million Dollars ($3,000,000.00) combined single limit bodily injury and property <br />damage per occurrence, with a maximum deductible of One Thousand <br />($1,000.00) per occurrence, for participants in SHOREACRES sponsored events <br />and/or activities utilizing the facilities indicated on ATTACHMENT "A". Thirty <br />(30) days prior notice of policy cancellation shall be provided to LA PORTE. <br />Effective policy must not exclude participants in any scheduled or unscheduled <br />activities at the facilities. Other policy exclusions are permissible, provided that <br />they do not contradict the terms of this Agreement. SHOREACRES shall furnish <br />LA PORTE with a Certificate of Insurance evidencing such coverage. Such <br />insurance shall include contractual liability insuring the indemnity agreements <br />contained in this Agreement.\ <br /> <br />IV.2 During the term of this Agreement, and any extensions thereof, LA PORTE shall <br />keep and maintain a comprehensive general liability policy, with SHOREACRES <br />as Additional Named Insured, with limits of liability of not less than Three <br />Million Dollars ($3,000,000.00) combined single limit bodily injury and property <br />damage per occurrence, with a maximum deductible of One Thousand <br />($1,000.00) per occurrence, for participants in LA PORTE sponsored events <br />and/or activities utilizing the facilities indicated on ATTACHMENT "A". Thirty <br />(30) days prior notice of policy cancellation shall be provided to SHOREACRES. <br />Effective policy must not exclude participants in any scheduled or unscheduled <br />activities at the facilities. Other policy exclusions are permissible, provided that <br />they do not contradict the terms of this Agreement. LA PORTE shall furnish <br />SHOREACRES with a Certificate of Insurance evidencing such coverage. Such <br />insurance shall include contractual liability insuring the indemnity agreements <br />contained in this Agreement. <br /> <br />Article V. <br />TERM <br /> <br />V.1 The term of this agreement shall be for a period of forty (40) years commencing <br />on the date of passage by the party last to ratify, unless terminated by either party <br />by notice in writing not less than sixty (60) days prior to the current term in <br />accordance with the Termination procedures as designated in Article IX. <br /> <br />V.2 At the end of the term of the Agreement, both the SHOREACRES and LA <br />PORTE have the option to continue the Agreement for two (2) additional five (5) <br /> <br />SHOREACRES - La Porte Interlocal Agreement for JOINT TAYLOR BAYOU PARK, Page 4 of9 <br />