1992-08-13_GENERAL DOCUMENTS - C1981017

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4. Single Policy /Inclusion in Existing Insurance. Comprehensive general liability insurance may be arranged under a single policy for the full limits required or by a combination of underlying policies with the balance provided by an excess or umbrella liability policy and may be included under such similar existing insurance coverage of Contractor. 5. Notice of Cancellation. The foregoing policies shall contain a provision that coverage afforded under the policies will not be canceled or not renewed until at least thirty (30) days' prior written notice has been given to Mid- Continent and until replacement insurance has been obtained. Certificates of insurance showing such coverages to be in force shall be filed with Mid - Continent. 6. Separate Account for Insurance Proceeds. Upon the occurrence of an insured loss, monies received will be deposited in a separate account and distribution thereof will be made in accordance with the interests of the parties or in the absence of agreement, in accordance with an arbitration award made as herein provided. C. Waiver of Subrogation. 1. Mid - Continent and Contractor waive all rights against each other for damages caused by perils covered and fully compensated by insurance, except such rights as they may have to the proceeds of such insurance held by Mid- Continent and Contractor as trustees. 2. Mid- Continent and Contractor waive all rights against each other for loss or damage to any equipment used in connection with the Project and covered and fully compensated by any property insurance. 3. If the policies of insurance referred to in this paragraph require an endorsement to provide for continued coverage where there is a waiver of subrogation, the owners of such policies will cause them to be so endorsed. VII. TERM OF CONTRACT. A. Completion of Work. The Work to be performed by Contractor pursuant to this Contract is contemplated to be completed over a period of three (3) years subject to factors related to the weather and acknowledgement that most Work can be carried out only during the summer months; the total period allocated for the Work including sales of the remaining Equipment is contemplated to last over a period ending five (5) years from the date of this Agreement, at which time the parties hereto shall attempt to enter into a further agreement regarding remaining unsold equipment if any. Notwithstanding the foregoing, Contractor shall use reasonable efforts to perform the Work in a manner which can be reconciled with reclamation requirements imposed by the 08/13/92(12)