HomeMy WebLinkAbout0475 10. LESSEE'~S RIGHT TO ASSIGN AND ENCUMBER. The Lessee '
shall have no r g t to mortgaRe or ot erw se encum er any of its
right, title and interest in and to this lease or the Recreation ~
Center. The Lessee ahall have the right to assign this lease-or ~
any part ther.eof . ~ ~
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11. EMINENT DOMAIN. If any part of the demised premises ~
is taken under t e power o eminent domain during the term of this ~
lease, the rent herein provided for sha21 continue unaffected as to . #
amount unless such taking conipletely destroys the usefulness of :
~the demised premises for all purposes leased. In such event, the '
Lessee shall have the right to terminate this lease by written ;
notice to the Lessor within thirty (30) days after such taking or ~
to continue in possession of an undivided interest in the remainder ~
of the leased premises under all of the terms and conditions hereof.
All damages awarded for such taking shall belong to and be the =
property of the Lessor whether such damages shall be awarded as ~
~omnensation for diminution in the value to the lease or to the ~
fee of the leased premises. ~
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12. INSURANCE. The Lessor shall throughout the term of ~
this lease keep n orce insurance policies as follows: ~
12,1 Public Liabilit . Comprehensive, general ~
public liability insurance n w c t e Lessor and-Lessee, and all ~
other lessees as to the Recreation Center shall be named insureds ~
against claims for hodilp in~ury, sickness or disease including ~
death at any time resulting therefrom and for injury to or destruc-
tion of property, including the loss of use thereof arising out
of ownership, maintenance, use or operation of the Recreation Center
or any building or improvement or personalty located thereon, with
minimum limitations of 5200,000/$500.000/$I0,000. ~
12.2 Pro ert Insurance. Policies of sinurance in- ~
suring against loss or amage to t e uildings and improvements now ~
or hereafter located upon the Recreation Cen.ter and all furniture,
fixtures, machinery, equipment and furnishings now or hereafter •
brought or placed thereon insuring against loss by:
(a) Fire. Fire, windstorm and such other
hazards as may be included
in
the boradest form of extended coverage ~
from time to time available; and
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(b) Boiler. By boiler explosion, if boilers ~
are now or hereafter locateT~the aforesaid buildings, and
(c) 4ther. To the extent required by the
Lessor, war damage or damage~y civil insurrection or co~notion
as the same may not be covered by other policies above referred. _
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The insurance required hereunder shall be in an ~
amount equal to the maximum insurabel value as determined annually
by the Lessor and as approved by the Lessee. ~
12.3 Generall . All policies required shall be for the
benefit of the Lessor, t e Lessee, and mortgagees as the the Recreation
Center, as their interests may appear, and shall be subject to such i
provisions as mortgagees of the Recreation Center may require. Should
the Lessor £ail to maintain the insurance on the property, Lessee shall ~
have the right to obtain the necessary insurance and deduct from the ~
rental the amount of the insurance premiums.
12.4 Reconstruction and Re air. In the event of the total ~
or partial destruct on o any o t e u dings, improvements, or personal
property by fire, windstorm or any other casualty, whether or not the
casualty causing the damage be insured against, and whether or not, if
insured, any proceeds are paid therefor, Lessor shall at its expense
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