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AOC Site#:4912 Acquisition#:5445 (4) Any insurance coverage required by law and/or governmental agency with respect to the performance of Authorized Activities. b) As to the policies identified in Sections 7(a)(2), 7(a)(3) and 7(a)(4) above, McDonald's, its subsidiaries and affiliates, and the Operator shall each be named as an additional insured. These policies shall be primary insurance for all additional insureds. All policies shall be endorsed to provide a waiver of rights of subrogation in favor of the additional insureds. The Licensee shall be required to furnish evidence to McDonald's of insurance in form of certificates of insurance before commencing the Authorized Activities. C) The Licensee shall not make changes in nor allow the required insurance coverage to lapse without McDonald's prior written approval. d) All policies of insurance must be endorsed to contain a provision giving McDonald's [if applicable, and the Operator] thirty (30) days prior written notice by certified mail of any cancellation of that policy or material change in coverage. e) Notwithstanding the foregoing, Phillips 66 Company (not any successors or assigns without prior written consent of McDonald's) may elect to self-insure all or any part of its insurance requirements to the extent allowed by applicable law. Upon request, Licensee shall provide McDonald's and Operator with a letter of self-insurance evidencing its compliance with this clause. 8. Waiver of Claims. Licensee acknowledges that it enters onto the Property and performs the Authorized Activities hereunder at its own risk. Licensee, for itself and its officers, directors, shareholders, members, affiliates, agents, employees and subcontractors, waives any and all Claims arising out of, in connection with, resulting from, or incidental to, directly or indirectly,the conditions of the Property and any improvements thereon. 9. Default. Any failure of Licensee to perform any of its respective obligations set forth in this License shall constitute a default. In the event of a default,McDonald's may submit written notice of the default to the defaulting party and, if the default continues for ten (10) business days after receipt of notice from McDonald's, then McDonald's may terminate the Licensee's right of access to the Property, cute the default and pursue any remedies available under applicable laws. If McDonald's cures the default, then Licensee shall reimburse McDonald's for the costs thereof within thirty (30) days after receipt of McDonald's written demand for reimbursement. If Licensee fails to pay any such sum when due, Licensee shall pay interest on the amount due at a rate which is the lesser of. (1) 10%per year; or(2) the maximum rate allowed by law, from the date due to the date of payment in full. A default by Licensee or Licensee's contractor individually of any obligation imposed under this License shall be deemed a default by Licensee. Page 6 of 12