HomeMy WebLinkAbout0684 e:r~o: tgagee, then Lessae s::ali de~~ver sucr. or~g~r.a~s tio tha :r.or~- ~
ga~ee and shall de~ive: to Lessor certi:~cates o~ suc'c. ~o~ic~es. ::e
saic po~icies or certificates ~:,ereof. as ~r.e case .~ay oe, ~ogetr.er
wi~'r. evidence of the fac~ that the premiums have been pai~, as a~ore-
sai.c, sr.all be delivered by Lessee to i,essor be~ore the expirat~on of
t:~e t'r,er. Corresponding ~nsu:ar.ce coveuage, to the end that Lessor, n?ay
be assured tr.at such coverage ~s being ca: r~ed by the Lessee cor.ti,r.u-
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ousiy. , . • : . .
IX .
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~ESSE.~'S DUTY i0 PaY I\SLRAICE PR~,.~;~L~:S
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A. Le ssee cover.ar.ts and agree s wit:, :.e ssor that ~,e ssee~w~~~.
pay the prem,~uzns for al~ ir,surar.ce po2i~ies w:~ich I.essee is ob~igated r~`
to carry under Lhe terrr,s of this ;~ease and wil~. deiiver the saici po:.~-
cies and the evidence of pay.nent to tr.e ~essor w~tr.in the time nerein- ~
a~ter ~imited.
B. Nothing.here~n contained sha~l ever be construed as ren- ~
dering Lhe Lessor ~personaliy liab~e for the payn,er,t o~ any suc'r. insur-
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ar.ce pre~r.iums, but if, a~ ar,y ti.~e auring the contir.uar.ce o~ t'r,is i.ease,
f tr,e i.essee shal~. fail, refuse or r.eglect to procure ar.y o~ ~Y~•e po~icies
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Qi" insurance required in a:d by ~his ~.r.stru.mer.t to be p: ocured by tne ;
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Lessee or to keep ar.d rr,air.Lain t'r.e sam.e in full forec and eftect or ~
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pay ~ne prerr,iums tr.erefor pro:ntply wne:~ due, the Lessor r.ay, at its ~
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o~4~or,, procure or renew suc'r. ~nsurar.ce ar.d thereupon t'r,e a-r.ount or
an,our.ts of n~oney paid as the prerr,iwT.s or premiu.~ns due the: eon, ~ius ir.-
terest at the rate of ten percer.t (1~ ) per annum s:~all be colle ctible
as tnough it were rent then matlred r.ereunder and shall be • due ar.d pay~
' ao~e for*.'r,with or in lieu tr.ereof ar.d no~withstanding tr.e procu"rercer,t
ar.c rer.ewal o£ such policies by the Lessor, this ~nder.ture ar.d tr:e terms
created hereby may, at the optior, of tr.e Lessor, be terminateci and de- ~
c~ared at an end and all of the right, estate and interest o~ t'r.e
~essee in such ever.t r.erez:.r.der shal~ ia.nediately cease and becor~•e r,ul~
and vOid. - ' ~
X.
ASSIG1~~~tim
~ Provided that tr.is Lease is not ir. default and ~s ir. gooc ~
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199 ~f ~83