Laserfiche WebLink
<br />'I <br /> <br />premises are not render'ed unfit for occupancy, lessor agrees that <br />the damage shall be repaired as soon as practicable and in that <br />case, Lessee shall pay full rent during the repair period. All <br />repairs resulting from fire or the elements shall be paid for by <br />the Lessor out of any insurance proceeds received, but if the <br />insurance proceeds are insufficient to rebuild the premises, the <br />Lessee shall pay all addi t ional amounts that are required to <br />complete the rebu,ilding. All improvements and additions to the <br />premises made by the Lessee shall be repaired and replaced by <br />Lessee at its own expense. The purpose of this provision is to <br />r'equire the Lessee to carry insurance coverage on the premises <br />sufficient to rebuild the commercial building in the event of <br />damage or destruction. <br /> <br />ENTRY ON PREMISES BY LESSOR <br /> <br />Lessor reserves the right to enter on the premises at normal <br />office hours to inspect them. <br /> <br />INSURANCE AND INDEMNITY <br /> <br />Lessor shall pay for and insure the premises against fire, <br />wind and storm damage and such insurance policies shall include <br />the broadest form of extended ,coverage on the building, based upon <br />at least a 90% coinsurance value, as determined by Lessor. Lessee <br />shall maintain at its own expense, public liability insurance with <br />respect to Lessee's use and occupancy of the premises in at least <br />the sum of $300,000.00. <br /> <br />All insurance policies shall name the Lessor as additional <br />insureds. All insurance policies shall contain endorsement s by <br />the insurance company waiving all rights of subrogation, if any, <br />against Lessor, and any undertaking by the insurance company to <br />give Lessor not less than 20 days written notice prior to <br />modifying or canceling any insurance policy. Lessee shall provide <br />Lessor with copies of all insurance policies evidencing the <br />coverage and endorsements required hereunder. <br /> <br />Lessee shall defend, indemnify and hold Lessor harmless <br />against any and all claims, damages or lawsuits arising from <br />Lessee's occupancy or use of the premises, and any orders, decrees <br />or judgments, which may be entered therein, brought for damages or <br />alleged damages resulting from any injury to person or property or <br />from loss of life sustained in or about the premises, and Lessee <br /> <br />3 <br />