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<br /> 8. INDEMNITY OF LESSOR FOR LOSS OR DAMAGE
<br /> In event of loss of or damage to the Premises, Lessee at the option of Lessor shall pay
<br /> Lessor therefore in cash, the cost of such of loss or damage, including all costs necessary
<br /> to place the public property in the same condition as it was before the Festival .
<br /> 9 , INDEMNIFICATION AND INSURANCE
<br /> It is recognized that the Lessor will have very limited control over the Premises during the
<br /> term of this Lease, accordingly, the Lessee agrees to hold harmless and indemnify the
<br /> Lessor from and against all loss , liability, or expense for personal injury or property
<br /> damage which might arise through the presence, operation, use or maintenance of the
<br /> Premises and to maintain liability and property damage insurance coverage in the amounts
<br /> shown in the Contract to protect the interest of the Lessor.
<br /> Should any person, natural or otherwise, bring suit or commence any legal proceeding,
<br /> judicial or otherwise, against the Lessor for personal injury or any other personal liability
<br /> or for any property damage or for any other matter whatsoever, arising from Lessee ' s use
<br /> of the leased Property, the Lessee hereby agrees to defend Lessor in said matter or
<br /> proceeding and Lessee agrees to pay all legal fees and costs Lessor may incur as a result
<br /> of said proceeding or suit .
<br /> 10. TAXES AND FEES
<br /> Lessee shall pay all taxes, assessments, licenses and registration fees on said Property, if
<br /> any, during the term of this Lease , and furnish to Lessor satisfactory proof that such
<br /> payment has been made before such taxes, assessments or fees become delinquent.
<br /> 11 . EVENTS CONSTITUTING DEFAULTS
<br /> The following events constitute defaults :
<br /> a . The nonpayment by Lessee, for a period of twenty (20) days, of any sum
<br /> required hereunder to be paid by Lessee .
<br /> b . The nonperformance by Lessee of any other covenant or condition of this
<br /> Lease which is not cured within twenty (20) days after notice thereof from
<br /> Lessor.
<br /> C , An affirmative act of insolvency by Lessee, or the filing by Lessee of any
<br /> petition under any bankruptcy, reorganization, insolvency or moratorium
<br /> law, or any law for relief of, or relating to , debtors .
<br /> d. The filing of any involuntary petition under any bankruptcy statute against
<br /> Lessee, or the appointment of any receiver or trustee to take possession of
<br /> the property of Lessee, unless such petition or appointment is set aside or
<br /> withdrawn or ceases to be in effect within thirty (30) days of the date of the
<br /> filing or appointment.
<br /> e . The subjection of any of Lessor' s Property to any levy, seizure,
<br /> assignment, application or sale for or by any creditor of Lessee or
<br /> governmental agency.
<br /> 12 . LESSOR' S RIGHT TO PREVENT DEFAULT
<br /> Should Lessee fail to make any payment or do any act as herein provided, then Lessor
<br /> shall have the right, but not the obligation, without notice to or demand on Lessee, and
<br /> without releasing Lessee from any obligation hereunder, to make or do the same, and to
<br /> pay, purchase, contest or compromise any encumbrance, charge or lien which in the
<br /> judgment of Lessor appears to affect the Property, and in exercising any such rights, incur
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