Preschool Liability Form Protects School From Wrongful Death Due To Negligence?

Location: Illinois

Our child has just started a public preschool program in the local school district. The PE class is structured using the "Special Olympics Young Athletes Program" and we need to fill out a registration form that involves signing a section "Consent, Waiver and Release of Liability, Assumption of Risk and Indemnification." We were shocked by the last two sections on the form (the misspellings below are original to the document, not me):

Entrants, for myself and on behalf of my heirs, assigns, personal representatives and next of kin, HERBY FREELY AND VOLUNTARILY ASSUME ALL RISK, WAIVE AND RELEASE FROM LIABILITY, AGREE TO INDEMNIFY AND HOLD HARMLESS, Special Olympics Illinois, it's officers, officials, agents and/or employees, other participants, coaches, sponsoring agencies, sponsors, advertisers and if applicable, owners and lessors of the venue/premises used to conduct the event ("RELEASEES"), WITH RESPECT TO ANY AND ALL ILLNESS, DISABILITY, DEATH, or loss or damage to person or property, WHETHER ARISING FROM THE NEGLIGENCE OF RELEASEES OR OTHERWISE, to the fullest extent permitted by law.

This is to certify that I, as parent, guardian, and/or individual with legal responsibility for this Entrant, have read and explained the provisions in this ATHLETE CONSENT, WAIVER AND RELEASE OF LIABIITY, ASSUMPTION OF RISK AND INDEMIFICATION FORM to said Entrant including the risks of presence and participation, as well as their personal responsibilities to adhere to the rules and regulations promulgated by SOILL. Furthermore, said Entrant understands and accepts these risks and responsibilities. 1, for myself, spouse (if applicable), and Entrant do herby consent and agree that said Entrant freely and voluntarily assumes all risk, and that we waive and release from liability, indemnify and hold harmless the above referenced RELEASEES for any and all liabilities incident to said Entrant's presence or participation in SOILL sports, training, competition and/or any other SOILL group activities as provided above, EVEN IF ARISING FROM THE RELEASEE'S NEGLIGENCE, OR OTHERWISE to the Fullest extent provided by law.

To us, non-lawyer parents, it sounds like if we sign this form we can't do anything if our child were to be injured or killed directly due to their negligence.

This form is from Special Olympics Illinois and specifically says we cannot alter or cross out any info. It also says they have permission to photograph our child and use their name and likeness for fundraising, publicity, etc. There is no way to opt out of this etc.

Is it reasonable to even sign this? I've emailed the teacher to ask who we can talk to at the school about the form and just want to have a clearer understanding if this is unreasonable because the language seems crazy. Thank you.