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event of any change in the environmental condition of the Contract Property, or the receipt of any <br />• notice from any regulatory or administrative body concerning environmental matters related to <br />the Contract Property. <br />Taxes and Other Governmental Charges - to pay when due the full amount of all <br />taxes, assessments and other governmental charges lawfully made by any governmental body <br />during the term of this Agreement related to any Contract Property. <br />Insurance - to acquire, carry and maintain, at its own expense, (i) broad-form <br />extended coverage property damage insurance with respect to all Improvements in an amount <br />equal to the estimated replacement cost of such Improvements, with such property damage <br />insurance to include the County as a loss payee, (ii) comprehensive general liability insurance in <br />an amount not less than $1,000,000 for personal injury or death and $1,000,000 for property <br />damage, and (iii) workers' compensation insurance issued by a responsible carrier authorized <br />under State law to insure the School Board against liability for compensation under applicable <br />State law as in effect from time to time. <br />All insurance shall be maintained with generally recognized responsible insurers and <br />may carry reasonable deductible or risk-retention amounts. No School Board agent or employee <br />shall have the power to adjust or settle any property damage loss greater than $50,000 with <br />respect to the Contract Property, whether or not covered by insurance, without the County's prior <br />written consent. The County shall not be responsible for the sufficiency or adequacy of any <br />• required insurance and shall be fully protected in accepting payment on account of such <br />insurance or any adjustment, compromise or settlement of any loss agreed to by the County. <br />Compliance with Requirements - to cause any Improvements to be designed and <br />constructed in compliance with all applicable legal requirements, including subdivision, building <br />and zoning regulation, and to observe and comply promptly with all current and future <br />requirements relating to the Contract Property's use or condition imposed by (i) any judicial, <br />governmental or regulatory body having jurisdiction over the Contract Property or any portion <br />thereof or (ii) any insurance company writing a policy covering the Contract Property or any <br />portion thereof, whether or not any such requirement shall necessitate structural changes or <br />improvements or interfere with the use or enjoyment of the Contract Property. The School Board <br />shall in no event use the Contract Property or any part thereof, nor allow the same to be used, for <br />any unlawful purpose, or suffer any act to be done or any condition to exist with respect to the <br />Contract Property or any part thereof, nor any article to be brought thereon which may be <br />dangerous, unless safeguarded as required by law, or which may, in law, constitute a nuisance, <br />public or private, or which may make void or voidable any insurance then in force with respect <br />thereto. <br />Maintenance and Repairs - to keep the Contract Property in good order and <br />repair (reasonable wear and tear excepted) and in good operating condition, to prevent any waste <br />or any other occurrence whereby the value or usefulness of the Contract Property might be <br />• , <br />