HomeMy WebLinkAbout1540 included in any it~~provei~,ents loc~ted on t}:e Der~is~~ci Prer~~~~~s,
insurin~ the Iessee a~alnst any 2r~ all cla~ms ar~3 der:-ancls ~
made by an,y per~on or perscns ~~~homsoever for in~uries re~e~~~ecl ,
in conneetion Vrii:h the operation ar.:~i ~r~lint~ii~nce of th~
improvarr~en~s and bu3ldinr;s located on the Demised Premi~e~, or
for any other risks insured ~.~uinst by such polic3es, e:~ch
class of t•rhich polic~es shall have been ti~aritten ~tiith lir~~it•s of i
not lec s than ~ 500, 000. for dam.~~es incurr~;d or clain:~d by
any on~ persot~, nr.:~i for not less than ~1,000,000.00 for da~a~,as
incurr•ed or clairr.~d by mor~ than one person as a re~ult of anS?
accident or inciclent. All such policies will name the Lesse~
and Lessor, as th~ir respective interests may appear, as the
parties insurzd by sueh policy or pollcies, and the original
or a true copy of each of such policies shall be delivered by
Lessee to Lessor pror:r~i;1y upon the writing oP such policy or
policies, togeth~r V~i th adequate evidence of tlie fact that
the premiums therefor ara paid; and, in any event, such policles ~
and ev3dence of payr:?nt by the Lessee of the premiums shall ~c
delivered by the Lessee to Lessor before the expiration of any ~
then similar coverage an:l in time to assura the Lessor that ;
such coverag~ tlill be carried continuously. The said insurance i
policy or policies shall be in such form as herain set forth
and in such companf or co~npanies,.and in sueh amounts, in add-
ition to the minimum amounts specified herein as the Lessor
sha].l i~easonably require. The said policy or policies sha11
contaii~ a provision reciting tha~ the covera~e provided thereby
may not be cancelled or changed ~~~ithout actu~l ~ZOtice being
~iven ta the Lessor.
c. Propertv Instir~;nce. Lessee shall. obtain arra pay for ;
; policies o nsurance`3~r~surinj tlle buildings an3 irr~rover,-:~nts j
E notv or hereafter located upon and eonstftut~.n~ a portian of the ~
Demised PrAmises a~ai.nst loss by fire, windstorm an~i such otl:~•r
~ hazards as may be 3ncluded in the broadest form of extended cov- S
~ era~e from t3rr~ to i,irr.° available; anci by boiler explosion, if i
5 boilers are noz~r or hereafter located in any portion of the De--
~ mised Premises; and, i;o the ex~ent required by the Lessor, ~~:~r ~
; damage or damage b,y civ~l insurr~ction or corafnotion as the sar~ ~
~ may not be cover~d by other pol.~cies hereinabove describec~. ;
~ F1hen, in compliance ti•:ith the pravisic~ns of th3s para~raph, t;he
~ Lessee shall furnish poJ.~tci~es insurinT the actual i°eplacei~t~nt;
costs, said v2lua~ion shall be wiLhout deduction or de~;~•t~clatiot~
: insofar as such covera~;e rr~ay ~e obt;ainable, an~3 in suc~i case the
Lerm "maxirram insuraUle v~:lue" as used herein shall m-.:~n th~
~ actual repl~cerr~nt cos~ oi' the property re~uir•ed to be ir:sured
; without deduction fo» depreciation.
All insuranez required t~o be carried shall be effr,cted unde~~
policies r~ritten in sucl~ f'orm and issued by such cv:r~arttes as
f shall be approved b,y tY,e LPssor, irho shall not ut~rcasor.~l~ly
withhvld such ap~roval. All polic~es sh~11 be for th° t~:~n~f:tt -
of th~ IPSSOr and the Lessee as their resp~ctive i~nterests r.:.y
appear, and st~all be sub~ect to such provis~.ons a~ rnortE~.a~~;e~s ;
; of the ~)emi sed Pr•emises IGav requ~re.
c
13. ~?econstruction an:i r'ep~~r. tTpon the occurre;~cF ~of ar.~?
d~~m~;*e or ~o~a1 or
par~3a-T`cI-~:struc3;ion ~o any port~on of tl:° ner~is~c~
' Fre~ni: ~s, t-rh~t.her o-r not th~ c`su~~lt;v cat2 ~in~ such d~.z,.~~,e 2;~ ins~.~•~:cl -
a~f~~in~t, an~~ ~~rhetli~r or no~, if insur~:d, any pr•~cee~s ~ r~~ paid in
conni:eLior, tr:er~?•rith, tli~ forcc;oin~, provi.sion:: stiall dp~~iy: ~
a. L^a.se t~ COI7'~S.Ti~.~. T'ne destructiotl, ~lteru~ioi~, de~r-•
o_li t~ oi; oi~
t~on-tisfv~ or o'ti~.~r de~eri~._r~t:ton in corr3ition nf t'~~e
lle,ni;,t~c~ Frc~.~i~es or ~ny ~~i~tioi; ther~ai , r~~y^.rcl~.ess of t.h~~ r:^--
. tur~ i:herec~ or E,'Vf:nts ~~r!?i.ch cau:,-e suc•h de::trucLion, altcr~~.tior~,
dc~j~o:?it:i.on or r~on-u~e, excc~t ta~:in~; by c~r.i_1~~iit cio:~~~in, sti:{31
- i~at in any t•~=~y r~rdi~ce, ~+~~~~tL or sus~~~r.~i the L^V~ee's ob~~_~:~Lio;:;
c~i1C1 C:Ot/i.2~~i;`.:: ~"iLI`~'.U;iCiC?' T?02' ::}iia1.~. f'.}'1~ S°T:c'. ~fft-~ t`. ~2 tE'1'i:11.!`:1t'C1:
in ~•;1~a?.e or in P~.~~t of' th~s Ie: se,
b. T~c~cu:-:,,tr~~c~_.~tcr, a~~:3 i~~~l~~ir h:r I.~~..: c~ 7i~e If~~:. <J
. .,~~L~ :t :~i..:,
C:_1?'~)i:;C~ ~;'1 ~1 1'.;:-..'.3 t'Li;icti'--I,c:CC',il~:l•;'Ll;,'~i.~~~l. 1tilC('~ ti_iI'? 1 ~Tff :t~:i
eooK 197 ~~i538
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