HomeMy WebLinkAbout1854 property, including the loss of use thereof arisfng out of ownership,
maintenance, use or operation of the Recreation Center or any buf lding
or improvement or personalty located thereon, without maximum limita- ~
tions.
- 18.2. Property Insurance. Policies of insurance insuring
against loss or damaqe to the buildinqs ar~d improvements now or hereafter
located upon the Recreation Center and all furniture, fixtures, machinery,
equipment and furnishinqs now or hereafter brought or placed thereon in-
surinq against loss by: ~
-(a) Fire. Fire, windstorm and such other hazards
as may be included in the broadest form of extended coverage from
time to time available; and
(b) Boiler. By boiler explosion, if boilers are
now or hereafter_located in the aforesaid buildings, and
(c) Other. To the extent required by the Lessor,
war damage or damage by civil insurrection or com~aotion as the same
may not be covered by other policies above referred.
The insu=ance required hereunder shall be in
' an amount equal to the maximum insurable value. The Association shall
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furnish policies insurinq actual replacement costs without deduction ~
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~ for depreciation and in such case the term "maximum insurable value"
~ as used herein shall mean the actual replacea?ent cost of the property
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~ required to be insured without deduction for degreciation. If policies
~ insurinq replacement costs are not a~~ailable, then the said term
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~ "maximum insurable value" shall mean the actual cash value with due
allowance for depreciation of the property required to be insured, to
the extent insurance may be afforded under policies covered in that
c manner.
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~ 18.3. Generally. All insurance required to be carried ,
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~ shall be effected under policies written in such form and issued by R
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