§ 7.

Said Elevator Company hereby assumes all risk of loss of life and/or any injury to persons and any structures and any real or personal property upon said premises and to any grain brought and held on said premises by said Elevator Company which loss or injury is not the proximate result of the negligence of the City of Minneapolis or its employees; and said Elevator Company further assumes all risk of such loss or injury caused by fire, whether the fire originates through the negligence of the City or otherwise. The said Elevator Company hereby releases and agrees to indemnify and save harmless the City of Minneapolis for any and all claims for damages arising from any loss or injury, the risk of which is in this paragraph assumed by said Elevator Company.