COMPLIANCE INFO_2025 - Laserfiche WebLink

Home Browse Search

aocus,gn Enae�ope Id: E21r:5717-4M8 42A9-8682-F4952r;B743C1 Dernised Property shall provide coverage and mdemnity at least eguivakmt to separate policies in the amounts herein required,and provided further the# in other respects, any such policy or policies shall comply with the provisions of[his Article. Any iacsed coverage provided by individual or blanket policies shall be satisfactory, provided tk aggrcgate fiability limits covering the Demised Property under such policies shall otherwise wmply with the pwvfsions of this Article. Seen,& 10-06 Every insurance policy carried by either Landlord or Tenants with respect to the Uem d Properly shall include prOvisic s waiving the insurer's subrogation rights against tkle O'her party, prior to the occurrence of dattage or loss. Subject to the above, each, patty hereby waives art) rights of recovery against the other party for any direct damage or cQmquential loss covered by said policies (or by policies required to be carried henur by such party) wilether or not such damage or loss shall have been caused by any acts or omissions of the other party. Section 10.07 The Policies of insurance required to be mainmined by Tee under this Article 10 shall (a) name Tenants as the insured and Landlord and Landlord's Lenders (if any) as additional insureds, as their inlerests may appear, and b) include primary coverage in favor of all additional insureds (and with provisions that any other insurance carried by any additional insured or Landlord shall be non nt butrng and that naming Landlord and the additional pages listed above in this Section as additional 4ma-eds shall not negate any right Landlord of each parties would have had as claimants under the policy if not so designated). The business intettion insurance squired pursuant to Section 10.01 shall name Landlord and Landlord's Lenders as loss payees. All insurance policies required under this article 10 shall also provide that the ben& i W interest of Landlord in such policies shall be fully tratrferable. In the event Tenants fails to procure or maintain any policy of insurance required under Antic 1.0. or if the insurance company or coverages provided M to meet the requirements contahled in this Ailicle 10 Latxllord may, at its option, purchase swh insurance and charge Termrrts all costs and expenses incurred in Procuring and mainta=g such insurance, Section 10.08 Tenants shall provide to Landlord, beginner on the Conimencemem Bate and continuing annually der, certificates (or other evidence reasonably requested by Landlord) from all applicable insurance carriers evidencing the PaYmcut of Premiums or accompanied by other evidence of such payment (e.g., receipts, canceled checks) in form reasonably safisfwwry to l.andload. Each insurance policy required to be carried by Tenants hereunder shall include a envision requiring the it sum to provide Landlord with not less tban thirty (30) days' prior written notice of cancel 4on. Upon the acct rrence of both of dw following events, Tenants shall pay insurancv premium to Landlord no later than thirty (30) days prior to the deft such pnemiutns are due to lieu of payment directly to the applicable the in� criers: (i) delivery to Tenants of a written request therefor from Landlord, and (H) the oocurre= and continuance of any Default under this 5921ioa 10.08 by Tenants, or any occurrence and the continuance of any Event of Default under any provision in this Lease. Any insurance premium dmely paid by Tenants to landlord pursuant to this Section shall be applied towards payment of the insm-an premium next ron3ing due when such premiums are due and payable- ARTICLE 11 E OR DESTRUCTION B39 Rage 17 of