HomeMy WebLinkAbout0061 iti ?n~• aiic :~c~:ictc~ui ~ si~cl nc~L lc.:';; tli:ti~ l~zfty Tliou::;;iia Aoll.ii•:s
(~50 , OUO. UC~ )~,.i l h i•~•:sl~ec i, to p~•o~~ci• t.y . 1.~-~~sc; ~«•i 1 1 lccep a.1 1
1)1: t.C' F:Zllfi:i •].IL`:U.l'C(j~ C,^.litl llri I.r_•':;~O1' ~1~2(~ ~.C';i:iCC :L~i ).I1:~111'G'CiS il i
thcir iiiterc~st~~ ~~iay Zpi~e;~r. Lc~.s~cc shall dcliver i:o Lessor ~
the policie ~ of sucli insurance, or ccrLifica~:es tl~creof, at
leasL' fiftcen c!;;ys prior to ~:he connuencement of the term o~
this lease, and each renex~al policy or certificate thereof,
. at le~sL fiitcen days prior to thc e~:piratioii of the policy
i t re ne~vs .
XIII. .
PAY`iE2~T OI~ IfiSUl;fiilCF PRE'•~SIU'.15:
It is further undcrstood and a~;reed that the Lessor shall
in no «tay, be or become liable for the payment or any of tlie
premiur~s required to be paid for 1ny of the policies of insurance
required in tl~is lease to be pi•ocured by the Lessee, nor shall
the Lessor in 3i:y ~:~ay Ue or become liable for the collection
or no-collection of ~n}~ of the proceeds from anp of the said
policies of insurance.
Tt i~ f»r#1•~~r ~~v~n~ntc+rl rnft n~rnni? th~t in ~-:~_n ~t ~nv
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time durin~; the continuance of this lease, the Lessee shall
_ fail, re~fuse or neglect, after bein~ given three (3) days notice,
in ~ritina, b3~ the Lessor to procure any of the palicies of
insur. ance requ ired in and b}~ this leaye . to be procured by _
the Lessce, or to kcep and maintain tlie saMe in full force and
~
effect, thc l.essor, at its opt;ion (~~id t~~ithout such act const~- '
F
~ tutinb z~,aiver af the defaull: by the Lessee thus occurring}
i
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s may procu~re or renew sucli insurance; and thereupon, the a?nount
t -
_ or amounts of mon~y paid as tl~e prei~~ium or premiums tl~ereon, shall
; be collectible as though it were rent, plus i~iterest at the rate
i o~ eifiht (8p) percent per annum, then nltured hercunder, and shall
~
- he due anc~ pa}~~.ble ~r~ithin ten (10) days aftei• ~vritten demand for
~
; reimUursc~ment 1:herc~or shall have Ueen made Uy the Lessor upon
; 1;he J,es~ce and th~ I~essce's failure to e~'fect such reimburse~~~ent
; tvithin suclz timc thereaftex , sucli dem~nd shall constitute a
; defau lt licz•cin.
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$ooK22fl ~~f 61
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