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Home My WebLink About0672 inc2uded in any improvements located on the Demised Premiaes, ' insuring the Lesaee against any and all claima ar~d den~nda made by any person or persona whomsoever for in~uriea received ~ in connection Nith the operat3on and maintenance of the i improvements ar~d buildings located on the Demised Premises, or ~ for any other riska insured against by auch policies, each class oP Mhich policies ahall have been Nritten xith Zin~ita of not Iess than ~500,000.00 for damages incurred or claimed by any one person, and for not lesa than ~1,000,000.00 for daneges incurred or claimed by more than one person as a reault of ar~y accident or incident. All such poli~ies xill name the Lesaee and Lessor, as their reapective interests anay appear, as the partiea inaured by auch policy or policies, and the original or a true copy of each of such policiea shall be deliv~ered by Lessee to Lesaor promptly upon the Kriting of auch policy or pol3cies, Logether with adequate evidence of the fact that the premiums therefor are paid; and, in any event, such policies and evidence of payment by the Lessee oP the premiuma shall be delivered by the Lessee to Lessor before the eapiration of ar~y then similar coverage and in time to asaure the Lesaor that such coverage will be carried continuously. The said insurance policy or policies shall be in such Porm as herein set Porth and in such compar~y or companies, and in such amounts, 2n add- ition to the minimum amounts specified herein aa the Lessor shall reasonably require. The said policy or policiea ahall contain a provis2on reciting that the coverage provided thereby may not be cancelled or changed Nithout actual notice being given to the Lessor. L t ~ c. Pro~erty Insurance. Leasee ahall obtain and pay for ~ policias o~ naurance n'! suring the buildinga and improv~ements = noK or hereafter located upon and constituting a portion oi" the ~ Demised Premises against Zoss by fire, ~?indstorm and such other ~ hszar~ds as may be included in the broadest f'orm aP exter~ded cov- ~ erage from time to time available; ar~d by boiler explosion, if ~ boile rs are noN or hereafter located in any portion oP the De- ~ ~ mised Premises; and, to the extent required by the Lesaor, rrar ~ damage or damage by civil insurrection or comnotion as the same ~ W may not be covered by other policiea hereinab~ve described. # s When, in compliance with the proviaions of this paragraph, the ~ ~ Lessee shall furnish policies insuring the actual replacement ~ 2 costs, said valuation shall be ~rlthout deduction or depreciation ~ - lnsofar as such coverage may be obtainable, and in aueh case the term "maximum insurable value" as used herein shall mean the ~ actual replacement cost of the property required ~o be insured ~ without d eduction for depreciation. ; ~ ;~21 insurance required to be carried shall be effected under ~ policies Mritten in such form and issued by such companies as shall be approved by the Leasor, Nho sha21 not unreasonabl.y ~ withhoZd such approval. All policies ahall be for the benePit ~ of the Lessor and the LESSee as their respective intereats may _ appear, and shall be sub~ect to such proviaions as mortgagees aP the Demised Premises may require. ~ _ 1~. Feconstruction and °epair. Upon the occurrence of at~y ~ = damage or o a or par a ea ruc ion to any portion of the Damised ~ _ Premises, whether or not the casualty causing auch damage be insured - ; against, and ~rhether or not, if insured, any proceeds are paid in connection thereMith, the foregoing provisions shall apply: i a. Lease to continue. '~'he destruction, alteration, dem- olition or non-uae or o er deterioration in corxiition of the ? ^emised Premises or any portion thereof, regardleaa of the na- ~ ture thereof or events which cause such destruction, alteration, ~ demolition or non-LSe, eacept taking by eminent domain, ahall ~ not in any way reduce, abate or suspend the Lessee'a obligations ~ and covenants hereunder nor shall the same ei'fect a termir~e~tion ; in whole or !n part of this Lease. ~ ; b. Peconstruction and Repa~ir~ ~hy Lessee. The Lesaee, at its ~ expense, s- iF'aT repa r an recona ru'E'-c~i'~' neceasary, any and ~ i ~~p~ 197 YAG( 672 .~tY OFFt~£S CF GOLDSTE~N FpA1~FKLiN. C?iCti~N 7 SCHRAryx P A. _.;,Zp ~~CR7NFAST 763~c, STREET. NOATH MIAMi BEACH, FLORIDA 33162