HomeMy WebLinkAbout1856 general contractor wherein the work, labor and materials indicated
by such plans and specifications will be furnished at an agreed
price and a performance, completion and payment bond is-a part
thereof. To the extent that the damages shall occur to personal
property, other than fixtures, a bid need only be supplied from a
supplier of the same with a firm price indicated thereon.
19.3. Insurance.
(a) Fund. In the event proceeds of insurance shall
be payable by reason of damage and/or total or partial destruction
of the demised premises, including improvements, buildings and struc-
tures and furniture, furnishings, fixtures, mack~inery and equipment
now or hereafter placed thereon and as often as such insurance pro-
ceeds shall be payable, the same shall be paid to the Lessor and
_ said sums eo paid shall be deposited in a special account of the
Lessor, designated by Lessor, and such sums shall be available to the
Associat~on throuqh the Lessor for the purpose of reconstruction and
repair. Such monies shall be made readily available by the I,essor to
the Association for reconstruction and repair and shall be paid out
of said special account from time to time by the Lessor upon the es-
timates of the architect, licensed as such in the State of Florida,
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~ having supervision of such reconstruction and repair, certifyinq that
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~ the amount•of such estimate is being applied to the payment of recon-
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i struction and repair and that at reasonable cost therefor and not in
~ excess of the fair value thereof; provided, however, that it sha11 be
~ the duty of the Association at the time of contractinq or undertaking.
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~ for such repair or reconstruction and as frequently thereafter as the
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~ Lessor may require, to provide evidence satisfactory to the Lessor
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~ that at all times the undisbursed portion of such fund in said bank
} account is sufficient to pay for the reconstruction and repair #n its
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~ entirety,and if at any time it should reasonably appear that said fund
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~ will be insufficient to pay the full cost of.said repair and reconstruc- •
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~ tion, the l~ssociation will immediately and forthwith deposit into said
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