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2006/11/22 Council Agenda Packet
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2006/11/22 Council Agenda Packet
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Council Agenda Packet
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11/22/2006
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i1 , <br /> 15 hereof). Such policy shall name Landlord and any Mortgagees of Landlord as <br /> Additional Insured parties, as their respective interests may appear. - <br /> (iii) Workers' Compensation and Employer's Liability insurance as required <br /> by state law. <br /> (iv) Any other form or forms of insurance or increased amounts of insurance <br /> as Tenant or Landlord or any Mortgagees of Landlord may reasonably require <br /> from time to time in form, in amounts and for insurance risks against which a <br /> prudent tenant would protect itself. <br /> (b) Form and Delivery of Policy. All policies shall be written in a form and <br /> with an insurance company satisfactory to Landlord and shall provide that Landlord shall <br /> receive not less than thirty (30) days' prior written notice of any cancellation. Prior to or at <br /> the time that Tenant takes possession of the Premises, Tenant shall deliver to Landlord <br /> copies of policies or certificates evidencing the existence of the amounts and forms of <br /> coverage satisfactory to Landlord. Tenant shall, within ten (10) days prior to the expiration <br /> of such policies, furnish Landlord with renewals or "binders" thereof, or Landlord may <br /> order such insurance and charge the cost thereof to Tenant as Additional Rent. <br /> (c) Landlord's Insurance. During the Term of this Lease, Landlord shall <br /> insure the Building, Premises and Common Areas against damage with special cause of <br /> loss form coverage in an amount not less than the full replacement cost of the Building <br /> and Premises from time to time and shall maintain public liability insurance in such <br /> amounts as Landlord deems reasonable and appropriate. <br /> (d) Violation of Policy/Increase of Premium. Tenant will not keep, use, sell <br /> or offer for sale in or upon the Premises any article or use the Premises in any way which <br /> may be prohibited by any insurance policy periodically in force covering the Building. If <br /> Tenant's occupancy, use, or business in, or on, the Premises, whether or not Landlord <br /> has consented to the same, results in any increase in premiums for the insurance <br /> periodically carried by Landlord with respect to the Building, Tenant shall pay any such <br /> increase in premiums as Additional Rent within ten (10) days after being billed therefor by <br /> Landlord. Tenant shall promptly comply with all reasonable requirements of any present <br /> or future insurer relating to the Premises. <br /> (e) Waiver of Subrogation. Landlord and Tenant, for themselves and their <br /> respective insurers, agree to and do hereby, to the extent the damage or injury to their <br /> property is covered by insurance, release each other of and from any and all claims, <br /> demands, actions, and causes of action that each may have or claim to have against the <br /> other for loss or damage to the property of the other, both real and personal, <br /> notwithstanding that any such loss or damage may be due to or result from the <br /> negligence of either of the parties hereto or their respective employees or agents. The <br /> damaged or injured party agrees to make and diligently pursue a claim against its <br /> insurance carrier for such damage or injury prior to seeking recovery against the other <br /> party or against the other party's insurance carrier. <br /> 9 <br /> 9a <br />
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