HomeMy WebLinkAbout0016 in any one ~ccideut, and nat Zcss tl~an ?~if1.y Tl~ous:~nd llc~llai•s
($50,000.00) n+ith respect to propcrty. I.essce ~~i.ll keep ~11
plate glass ~insurcd, nlmin~ I.essor and I.essce as insureds as
their interests may ~ppear. Lcsaee shall deliver to Lessor ~
the policies of sucli insur~nce, oi' C('2•tificates thereof, ut
least fifteen days prior to tlie comn~encemet~t of tlie tei•m of -
this lease, and each renewal policy or certificate tl~ereof,
At least fi~teen d~ys prior to the expiration of the policy
it renews.
XIII.
PAY?tiEIV7' t7I' INStfRt'ci-~Cf~ FR~;~IU~`S:
It is further understood and agreed that the Lessor shall
in no w1y, be or become liable for tl~e p~yment of any of tlic
premiums required to be paid for ~ny of Lhe policies of iiist~rance
required in tliis lease to be procurcd by tt2e Lessee, nor shall
the Lessor in ~ny v~ay Ue or become liable for the collection
or no-collection of anp of tt~e procecds from an~~~ of the said
policies of insurance.
It is further.covenanted and agreed that in case, at any
time chirin~; the continuance of this lease, the Lessee shall
fail, refuse or neglect, after bein~ given three (3) days notice,
~ in writinb, by the Lessor to procure any of the policies of
insurance required in and by this lea~e . to be procured by .
the Lessee, or to keep and maintain ttie same in full force and
effect, tl~e Lessor, at its option (and without sucl~ act consti- '
tuting a waiver of the default by the Lessee thus occurring)
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may procure or renew such insurance; and thereupon, the amount
i
+ or amounts of money paid as the premiuro or premiums thereon, shall
~ be collectible as though it were rent, plus interest at the rate
~ of eiglit (8p) percent per annum, tl~en matured liereunder, and shall
be due and payable within ten (10) days after written demand for
reimbursement ~herefor shall have been made by ~lie Lessor upon
;
~ the Lessee and the Lessee`s failure to effect such reimbursement
within sucli time tliereafter, such demand shall constitute a
defau lt herein.
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