§ 3. INDEMNIFICATION, INSURANCE AND REIMBURSEMENT.

(a)

The Company hereby agrees to protect, indemnify, and hold the Municipality harmless from any and all claims for damages to persons or property arising from or resulting from the Company's exercise of any of the rights set forth in Section 1, provided, however, that the Company shall not be liable for any damages caused by the negligence of the Municipality, its officers, agents, contractors, or employees.

(b)

The Company further agrees either to

(1)

obtain a policy of public liability insurance in an amount not less than One Million Dollars ($1,000,000) with the Municipality named as an additional insured under such policy, or

(2)

provide the Municipality with proof of self insurance in an amount not less than One Million Dollars ($1,000,000).

The Municipality's right of indemnification under Subsection (a) shall not be limited by the amount of the Company's insurance coverage

(c)

The Municipality hereby agrees to reimburse the Company for the cost of repairing any and all damage to the Company's structures or facilities caused by the negligence of the Municipality, its officers, agents, contractors or employees.

(d)

The provisions of this Section are not intended to create liability for the benefit of third parties but are solely for the benefit of the Municipality and the Company.