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6. The CVD shall at all times during the usage period maintain at its own cost and expense Public Liability insurance covering liability for bodily injury, personal injury, death, and property damage. The DISTRICT shall be named as an additional insured, and shall receive a copy of the certificate thirty (30) days prior to the event if obtainable, and if not obtainable, the CVD and/or DISTRICT may cancel the Chili Cookoff event and/or Conejo Valley Days celebration. The amount of insurance coverage shall be $1,000,000 per occurrence and $2,000,000 aggregate, or for limits mutually agreed to by the parties at least ninety (90) days prior to the event. 7. The CVD whereby indemnifiesy and holds the DISTRICT, and its officers, officials and employges, harmless from and against any and all claims by or on behalf of any person or persons, firm or firms, corporation or corporations arising from the CVD's use of DISTRICT property used by CVD under this Agreement,thw„�� including adjacent parking areas, or arising from any acts of negligence of the CVD or any of its agents, contractors, servants, employees, permittees, or agents and from and against all costs, attorney fees, expenses, and liabilities incurred in or about any such claim, action, or proceeding brought thereon. The CVD shall provide a list of all parties with whom they have contracted for event activities thirty (30) days prior to the event. All such contracting parties who have their own insurance shall be required to name the DISTRICT as additional insured, and the DISTRICT shall receive copies of such certificates prior to commencement of Conejo Valley Days. 8. For the year 29932004, the CVD shall pay the DISTRICT not less than $12,000 (twelve thousand dollars) plus 4% (four percent}of the net proceeds of the Conejo Valley Days event. Net proceeds are defined as total gross receipts less the expenses and costs allowed by generally accepted accounting _p incipals. Payment shall occur within sixty (60) days of the termination of said event. The District may, at its discretion, inspect the budgets, financial transactions, books, records, and the like, of the CVD to determine the net proceeds due the DISTRICT as defined herein. 9. The parties may, upon mutual agreement, extend the term of this Agreement for an additional usage period in 200420053 subject to all terms and conditions of this Agreement, except paragraph 8 above, which is subject to annual negotiations. -s-