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<br /> 37:I- <br /> all losses connected with operations under this Lease whether or <br /> not these losses are covered by insurance. <br /> 8.03 The insurance required in this article must be written so that <br /> Lessor will be notified in writing of cancellation, restrictive <br /> amendment or non-renewal at least thirty (30) days prior to the <br /> action. Insurance carriers insuring Lessee as required by this <br /> section must be rated by the most recent edition of Best's Key <br /> <br /> Ratinq Guide. Property-Casualty, published by A.M. Best Company, <br /> <br /> at a level of at least B+VII, unless a guaranty bond acceptable <br /> to Lessor from a carrier rated B+VII or higher guaranteeing <br /> payment of any and all claims against Lessee is furnished to <br /> Lessor. <br /> 8.04 Certificates of Insurance must be filed with Lessor prior to the <br /> commencement of operations and are subject to L~ssor's approval. <br /> Lessor's acceptance of Certificates of Insurance that in any <br /> respect do not comply with the Lease. requirements does not <br /> release Lessee from compliance. <br /> 8.05 Lessee shall indemnify, hold harmless and defend Lessor from and <br /> against all suits, actions, damages, liability and expense in <br /> connection with the loss of life, bodily or personal injury or <br /> property damage arising from or out of any occurrence in or upon <br /> the Leased Premises, or from the occupancy or the use by Lessee <br /> of Leased Premises or any part thereo f, or occasioned wholly or <br /> in part by any act or omission of Lessee, its agents, <br /> contractors, employees, servants, invitees, licensees or <br /> concessionaires, in their use of the Leased Premises, the <br /> runways and taxiways and any other area within the San Marcos <br /> Municipal Airport. <br /> 8.06 Lessee will occupy the Leased Premises and all other portions of <br /> the Airport at its own risk. Lessee releases Lessor, to the <br /> full extent permitted by law, from all claims of any kind <br /> resulting in loss of life, personal or bodily injury or property <br /> '- <br /> damage arising out of occupancy or use of the Leased Premises by <br /> Lessee. <br /> 8.07 Lessee must give prompt notice to Lessor of any accident at the <br /> -10- <br />