HomeMy WebLinkAbout0921 the mortgagee, then I.essee shall deliver such originals to the mort-
gagee and shall deliver to Lessor certificates of such Folicies. The
said policies or certificates thei•eof, as the case may be, Logether
with evidence of the fact that the premiurr,s have been Faid, as afore-
said, shall be delivered by Lessee to Lessor before the expiration of
the then correspon3ir~g insurance coverage, to the end that Le ssor may
be assured that such coverage is being carried by the Lessee continu-
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IX .
LE~SEE' S DUTY TO PAI' ZNSURANCE PRE~iIUMS
A. Less~e ~over.ants and agrees with Lessor that Lessee will
pay the premiums for ail insurance policies which LessPe is obligated
to carry under the terms o~' this Lease and will deliver the said poli-
cies and the evidenee of payment ta the Lessor within the time herein-
after limited.
~o~hing rerein cor.~ained shall ever be construed 3s ren-
dering the Lessor personall~• liable for the pay-ment of an~- such insur-
ar.ce premiums, but if, at any time d~aring the contir.uance of this Lease,
the Lessee shali fail, refuse or negiect to procure any of the p~licies
' •~f irs=.:rance required ir. and by this instrument ~o be procured by the
Lessee ~r t:. keep ar.d r~air.*.ain tre same in fuil force and effect or
pa_: the premi~.:.~:s therefor promp~ly wher. due, the L2sser may, at its
oFtior., pro~t:re cr rer.ew such insurance and thereUpen the amour~t or
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arccant s af :r.or~ey pa? d as ~he premiums or premiums thereon , plus inter-
~ est aL ti~e rate of ten percent (10 per annum shall be collectable
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! as tr.~ugh ~t were rent then matured here~:nder and sha.ll be due anci pay-
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; iorthwith or ~r: l~eu ther2of a:.: r.c~~,~*it?:s*ar.ding the pracurerr~er.t ar.d
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~ rer.ewa3 cf suc~: gc~icies by the Lessor, this ~nder.ture and the terms
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~rea'ed hereb~= r~ay, at the option of the Lessor, be terr.:inated and
~e c~ared a ~ ar. end ar.d all of the right , e state and intere st of the
Lessee ir~ s::ch ever.t here;~;r.der shall immediately cease and beco^:e nul~
and v~> id .
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Y.
A~SIuPv,~EP~,T
~ Pr~vid~d t~':3* *_his Lease is not in defa~alt and is ~r, g~~d
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