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extending three ( 3 ) years beyond the termination or expiration of this Agreement . Proof of insurance shall be provided to the District at least fifteen ( 15 ) days before the Commencement Date . Proof of tail coverage shall be submitted with the Company ' s invoice for its final payment. In lieu of tail coverage , the Company may submit annually to the District a current certificate of insurance proving that claims made insurance remains in force throughout the same three (3 ) year period. Such insurance shall provide coverage for pollution and environmental remediation . The form and content of the insurance coverage , as well as the financial stability of the company issuing the insurance , shall be subject to the prior review and approval of the District . The District shall be added as a named insured on the insurance policy, but only with regard to liability arising as a result of the District ' s delivery of solid waste to the Facility Site pursuant to this Agreement and resulting from contamination , pollution, or other environmental , conditions on the Facility Site , Section 7.4 Proof of Financial Responsibility, The Company shall provide the District with an irrevocable "direct pay" letter of credit issued by a national banking company authorized to do business in the State of Florida. The form and substance of the letter of credit shall be subject to the prior review and approval of the District. The letter of credit shall be issued in the amount of Two Hundred Thousand Dollars ($ 200 , 000 . 00 ) . The letter of credit shall be used to ensure the performance of the Company under this Agreement . ARTICLE VIII GENERAL TERMS Section 8 . 1 Dispute Resolution , The Parties shall attempt to resolve any and all disputes to the mutual satisfaction of both Parties by good faith negotiations . Whenever a Party desires to initiate the dispute resolution process set forth in this section , it shall do so by delivering a dispute notice to the other Party . Within ten ( 10) days after the delivery of a dispute notice , the Parties shall meet for the purpose of negotiating a resolution of the dispute . The Parties will use their best efforts to informally resolve the dispute within forty-five (45 ) days after the date of the written notice . If the dispute has not been resolved to either Party ' s satisfaction during this time period, the requirement for informal negotiations shall be satisfied. The Parties may , by mutual agreement, extend the period for informal negotiations . Nothing in this section shall prevent either Party from seeking judicial remedies in a court of law at any time . 32