HomeMy WebLinkAbout0682 a~ all times during t'r.e term of•:tY.is :.easa keep ir.su:ed ar.y ar.c al~
buildin~s and improvemen~s now or :ereafter located upon said de;~ised
premises and all personal propert.y whic:~ Lessee may orir.g or r,air~tair,
upon the premises in order to comply with tr,e terms of this Lease, ir.
good and responsible insurance companies authorized to do business in
F~orida~ or in such cor~panies as shall have been approved by Lessor ,
and any mortgagee then holding a mortgage encumberir.g tr.e fee sim,pie
Litle to the demised premises,_ for protection against all loss or riar:age
to said propert.y by fire, windstorm or causes insurPd against by "ex-
ter.ded coverage", and if tY.e buildings or. improverr,ents or. the pre:r~ises
a~ ar.y tine contain boilers or elevators, then Lessee k•i:~~ cause to be
written w;~at is generally kr.ow:^. as boiler ir.surance policies ar~d eieva-
. ,
tor insurance policies, an~i wherever the doctrine of co-insura: ce n:ignt
apply to any such insurance , tr.en t: e amount of tne insurance so ~arr~ed
by Lessee will be at aIl times sufficient to prevent co-issurar,ce or. ~
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tne part of the Lessor ar.d tne Lessee . a1d all such polic~es snail be ~
~ayaa2e in tr,e event of loss, ,jo~ntly to t'r.e Lessor~ and the Lessee, as
t:.eir respective interests rr.a?y appear. Notr,ir,g ~hereir. contained, 'r,ow-
E ever, shail be construed as pro'r.~oi~ing ~r.e attachrr?er,t to sucn policies
i
f Oi a standard rr.ortgage iOT': CSl.i,.Se ~ bL'+t ~T1 SUCfi ever~t, the SaiQ iY'i0a t-
' gage c~suse snali identify brief~y t'r.e ir,terest of the ,~.ortgagee as ;
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suc'r.. suc~, as, for exarr.ple , statin~ "f~rst r~ortgagee of the fee si::~ie
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; ti~~e°, or "mortgagee of ~he 2or,g-terrr. Lessee's interest ir. t'r.e ~inety-
~
~ :~i:.e Year Lease". 'The amour,t of insurance required, as speci:~eci in
° t'r.is ~aragraph, shall be ar~ amount equal to tY~.e rr,axim~m ir.surab~e re-
t
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~ p~acer.er.t ~value, as determir.eo an:~ually by tr,e Lessee and as approved
~ ~ oy ~he Lessor.
; B. .From the ir,ception of any cor.structi~n work whicr. i.essee ,
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'~:r rr,ay ef~ect on the demised prerr,ises, and as often as the Lessee may con- i
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~ stract a building or ~r~ake a substantial alteration in a bui~d~n~ , t'r,e
_ :,essee will cause Builder's r~isk Insurance Polic~es to be v?~r~t~e: ~r,
z c~:np~iar,ce witn tne provis~~ns of tY~.e precedir,~ p~rag~spr, as succ. para-
: ~rap : relates to the r~ature, r^.ir.~u,-: am.onnt and na~~i:~g of po: ~;or. as-
- sured oy such coverage, and said policies sr.all be sub~ect to ~'r.e approv-
~
= ,
a~ o: tc.e Lessor. . ~
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