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Section V <br />Insurance and Indemnification <br />North Olmsted Gymnastics shall maintain, at its expense, comprehensive general liability <br />coverage with not less than 1 million/2 million in coverage. Said policy shall name the City of <br />North Olmsted as Additional Insured, Certificate of which shall be delivered to the City's Law <br />and Human Resources Departments. <br />North Olmsted Gymnastics shall indemnify and hold the City harmless against any and <br />all claims, costs, causes of action, and judgments arising from and related to the provision of <br />gymnastics services, including but not limited personal injuries sustained by participants. The <br />City however is responsible for the premises in accordance with state law, with the exception of <br />the equipment owned by the contractor. <br />Section VI <br />Payment to Contractor; Reimbursement of Expense; Property Ownership <br />The City shall pay North Olmsted Gymnastics and North Olmsted Gymnastics agrees to <br />accept from the City, in full payment for Instructor's services under this agreement, the amount <br />collected by the City through registration for programs conducted by Instructor, subject to <br />deduction of monthly fee of $2,000.00. Payment will be made to North Olmsted semi-monthly, <br />in two (2) payments in the amount of $1,000.00. <br />The parties agree that the City's monthly fee of $2,000.00 shall be increased to $4,000.00 <br />per month if the program fees collected by the City meet or exceed $48,000.00 during the 6 <br />month term of this Agreement. The parties agree to audit the total gross amount of program fees <br />collected during the entire 6 month term and Contractor agrees that, in the event that the gross <br />revenue target of $48,000.00 is met, then the City shall double its fee from $2,000.00 to <br />$4,000.00 per month. The parties agree to monitor and audit gross revenues monthly, and if the <br />collection of program fees are on pace to meet the gross revenue target, then the City shall <br />double the bi-monthly deduction. If the revenue projections are not clearly on pace to meet the <br />gross revenue target, the parties shall address the fee increase, if any, one month prior to the end <br />of the 6 month term. If additional fees need to be paid to the City, they must be paid within 30 <br />days of notice. <br />All of the programs fees collected by the City, which are subject to deduction of <br />$2,000.00 (or $4,000.000 if increased) fees due to the City, payable in bi-monthly payments of <br />$1,000.00 each (or $2,000.00 if increased), will be accounted for and held by the City. North <br />Olmsted Gymnastics agrees that program fees are and remain subject to refund to program <br />participants based upon terms and policies established by the City. Due to the possibility of <br />program cancelation, and the consequential refund of program fees to participants, North <br />Olmsted Gymnastics agrees to reimburse the City in the amount of any program fees that are <br />refunded to customers, except when the program services have been commenced and the services <br />are being rendered. The City shall be entitled to increase the amount of deduction of program <br />fees, if necessary, to recover the reimbursement of any refund due from North Olmsted <br />Gymnastics. <br />4 <br />