HomeMy WebLinkAbout0044 included in any improvements located on the Demised Premises, ;
inauring the Lessee against any and all c laims and demanda
made by any person or persons whomsoever for in~uries received
in connection with the operation and maintenance of the
improvements and buildings located on the bemiaed Prendses, or
for any other risks insured againat by such policies, each
class of which policies shall have been Nritten Mith limits of
not less than a500,000,00 for damages incurred or claimed by ~
an~? vn~ per~vt`i, t~rxi !~i• nUi, iess i,ii~tr~ ?1,VUV,vuG.uV lc~t~ ~~snn~,c~
incurred or claimed by more than one person as a result of at~y
accident or incident. All such policies will name the Lessee
and Leasor, as their respective interests may appear, as the
parties insured by such policy or policiea, and the original
or a true copy of each of such policies shall be delivered by 4
Lessee to Lessor promptly upon the writing of such policy or
policies, together Nith adequate evidence of the £act that :
the premiums therefor are paid; and, in ar~y event, such policies
and evidence of payment by the Lessee of
the premiums shall be
delivered by the Lessee to Lessor before the expiration of
ar~r ;
then similar coverage and in time to assure the Lessor that ~
such coverage will be carried continuously. The said insurance ~
policy or policies shall be in such form as herein set forth =
and in such company or companies, ara in such a~~un~s, in add- ;
ition to the minimum am~unts specified herein as the Lessor i
shall reasonably require. The said policy or policies shall =
contain a provision recitir.g that the coverage provided thereby i
may not be cancelled or changed without actual notice being ~
given to the Leasor. ~
c. Property Insurance, Lessee shall obtain and pay for ~
policies o nsurance nsuring the buildings and improvements
now or hereafter located upon and constituting a portion of the
Demised Pr~mises against loss by fire, windstorm and such other
hazards as may be included in the broadest form of extended cov-
erage from time to time available; and by boiler explosion, if
boilers are now or hereafter located in any portion of the De-
rnised Premises; and, to the eatent required by the Lessor, war -
; damage or damage by civil insurrection or commotion as the same ~
; may not be covered by other policies hereinabove described. ~
~ When, in compliance with ttie provisions of this paragraph, the
4 Lessee shall f~.~rnish policies insuring the actual replacement
costs, said valuation shall be without deduction or depreciation ~
~ insofar as such coverage may be obtainable, and in such case the :
= term "maximum insurable value" as used herein shall mean the ~
actual replacement cost of the property required to be insu~*ed #
~ without deduction for depreciation.
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~
All insurance required to be carried shall be effected under
- policies written in such form and issued by such companies as
shall be approved by the Lessor, who shall not unreasonably
; withhold such approval. Al1 policies shall be for the be nefit
~ of the Lessor-and the Lessee as their respective interests may
~ appear, and shall be sub~ect to such provisions as mortgagees
~ of the Demised Premises may require.
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; 1?. Peconstruction and Repair. Upon the occurrence of any
= damage or o a or par a es ruc ion to ar~y portion of the Demiaed
; Premises, whether or not the casualty causing such damage be insured ;
against, and whether or not, iF insured, any proceeds are paid in `
' connection therewith, the foregoing provisions shall apply:
a. Lease to continue. The destruction, alteration, dem- _
= olition or non-use or o er deterioration in condition of~the ~
- Demised Premises or any portion thereof, regardlesa of the na- f
_ ture thereof or events which cause such destruction, alteration, ~
demolition or non-use, eacept taking by eminent domain, shall ~
not in any way reduce, abate or suspend the Lessee's obligations
and covenants hereunder nor shall the same effect a termination ~
in whole or in part of this Lease.
s
- b. Feconstruction and Repair by Lessee. The Leasee, at its ~
expense, s repa r an recons ruc , necessary, any and
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go~K~.98 F~~E 44
- ~~W OFFICES OF GOLDSTEIN. FRANKLIN. GHONIN Q SCHRANK. P. A.. 2020 ~JORTHEAST f63po STREET, NORTH MIAMI BEAGN. FLORIDA 33162