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HomeMy WebLinkAbout2074 12. Indemnification. a. Lessee covenants and agrees with the Lessor that during the teYm of this Lease, the Lessee will indemnify and save harmless the Lessor against any and all claams, debts, demands or obligations which may be made against the Lessor, or against Lessor's title in the premises, arising by reason of or in •connection with the making of this Lease and the leaseTiold interest hereby created in fihe Lessee, and if it becomes necessary for the Lessor to defend any action seeking to impose such liability the Lessee will pay the Lessor all costs of court and attorneyts fees incurred in connec- tion with any such defense, in addition to ar~y other sums which the Lessor may be called upon to pay by reason of entry of a judgrnent against the Lessor in litigation in which such claim is asse~*ted. b. The Lessee will cause to be written a policy or policies of insurance in the fonn generally known as Public Liability and D~~gerty Damage and/or Ownerts Laxidlord and Tenant Policies, and Boiler Insurance Yolicies when there are boilers included in any improvements located on the Demised Premises, insuring the Lessee against any and all claims and demands made by any person or - persons whomsoever for injuries received, improvements and buildings located on the Demised Premises, or for any other risks insured against by such policies, each class of which policies shall have been written with -limi~s of not less than $500,000.00 for damages incurred or claimed by any one person, and for not less than $1,000,000.00 for damages incurred or claimed by more than one person as a result of any accident or incident. All such policies wil~ .^.~.me the Lessee and Lessor, as their respective interest may appear, as the partie~ i.^.s~~re~ hy ~uch policy or policies, and the original or a true copy of each of such policies shall be delivered by Lessee to Lessor promptly upon the writing of such policy or poli- cies, together with adequate evidence of the fact that the premiums therefore are paid; and, in any event, such policies delivered to ~ t . Lessor by Lessee before the expiration of any 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 t such form as herein set forth and in such company or companies, and ; in such amounts, in addition to the minimum amounts specified herein as the Lessor shall reasonably require. The said policy or = policies shall contain a provision reciting that the coverage provided thereby may not be cancelled or changed withoufi actual ~ notice being given to the Lessor. ~ ~ c. Property Insurance. Lessee shall obtain and pay for policies t. of insurance insuring the buildings and improvements now or ~ hereafter located upon and constituting a portion of the Demised ~ Premises against loss by fire, windstorm and such other hazards ~ as may be included in the broadest form of extended coverage from ~ time to time available; and by hoiler explosion, if boilers are h now or hereafter iocated in any portion of the Demised Premises; ? and, to the extent required by the Lessor, war damage or damage '3 by civil insurrection or commotion as the same may not be covered ; by other policies hereinabove described. When, in compliance with _ - the provisions of this paragrapli,~the Lessee shall furnish 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 "maxirmun insurable value'' k = as used herein shall mean the actual replacement cost of the ; - property required to be insured without deduction for depreciation. 't 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 t}~e Lessor, who shall not unreasonably withhold such approval. Al1 policies shall be for the benefit i ~ - 8 - BOOK 2J~ PAGf 2072 } :5 • t ' , ~ is ' ~ ' ~aC'k k ' _ _ - ~ ~ _