Fire and Extended Coverage Insurance. Landlord agrees to keep in force policies of fire and extended coverage insurance which shall insure the Building against such perils or loss as Landlord may deem appropriate including vandalism and malicious mischief, in an amount equal to one hundred percent (100%) of the replacement cost of the Building and the improvements installed by the Landlord. Pursuant to Paragraph 4 Tenant is obligated to pay Landlord it's proportionate share of any such costs. Tenant agrees to maintain and keep in force, at its expense and throughout the term hereof, insurance against fire and such other risks as are from time-to-time included in standard extended coverage endorsements including vandalism and malicious mischief, insuring Tenant's stock-in-trade, trade fixtures, furniture, furnishings, floor and wall coverings, special equipment and all other items of personal property of Tenant located on or within the Premises and all such other improvements as are made by the Tenant to the Premises. Landlord and Tenant hereby mutually release and discharge the other from loss or damage to the described Premises or the contents, including any improvements and betterments located in or on the described Premises, to the extent such loss or damage is insured by the described fire and extended coverage insurance. Both Landlord and Tenant agree to furnish the other a certificate of insurance evidencing the required fire and extended coverage insurance and giving the certificate holder thirty (30) days notice of intent to cancel, non-renew or amend such insurance. If Tenant elects to satisfy this condition by self insuring, it may do so provided it provides Landlord and Landlord's insurance agent with (1) documentation establishing values of Tenant installed fixtures, furnishings, equipment, inventory and process equipment or other material used in Tenant's operation; (2) provide Landlord with financial statements and other information evidencing Tenant's financial ability to maintain the Premises and contents as self insured and (3) that Landlord's attorney shall prepare an agreement regarding subrogation of claims in the event of a casualty loss of Tenant's fixtures, furnishings and/or inventory.
Fire and Extended Coverage Insurance. Throughout the term, at Lessee's sole cost and expense, Lessee shall keep or cause to be kept insured, for the mutual benefit of City and Lessee, all improvements located on or appurtenant to the Premises, whether constructed at the time of signing this Lease Agreement or not, against loss or damage by fire and such other risks as are now or hereafter included in an extended coverage endorsement in common use of structures, including vandalism and malicious mischief. The amount of the insurance shall be sufficient to prevent either Lessee or City from becoming a co-insurer under the provisions of the policies, but in no event shall the amount be less than one hundred percent (100%) of the actual replacement cost, excluding the cost of replacing excavations and foundations, but without deduction for depreciation (herein called full insurable value). In the event payments are made for repairs, payments of proceeds for repair, restoration, or reconstruction of improvements shall be made monthly on architect's certificates until the work is completed and accepted. Any insurance proceeds remaining after complying with the provisions of this Lease Agreement relating to maintenance, repair, and reconstruction of improvements shall be the Lessee's sole property.
Fire and Extended Coverage Insurance. During the term of this lease the Lessee shall, at Lessee's sole cost and expense, keep insured for the mutual benefit of Lessee and Lessors all improvements now or hereafter located on or appurtenant to the Premises against loss or-damage by fire and such other risks as are now or hereafter included in an extended coverage endorsement in common use for farm buildings and structures, including vandalism and malicious mischief. The amount of such insurance shall be sufficient to prevent either Lessors or Lessee from becoming a co-insurer under the provisions of the policies, but in no event shall the amount be less than ninety per cent (90%) of the then actual replacement cost of said improvements (exclusive of excavations and foundations), without deduction for depreciation (herein called full insurable value.) At the time any such policy is to be renewed or replaced the Lessors may request the carrier of the insurance then in force to determine the full insurable value as defined in this paragraph, and the resulting determination shall be conclusive between the parties as to the amount of such coverage to be required under the provisions of this paragraph. Lessee may include the holder of any mortgage on the leasehold or on the fee, or both, as a loss payee; on Lessors' written demand Lessee shall include the holder of any mortgage on the fee as a loss payee to the extent of that mortgage interest. The proceeds shall be applied first to the repair, restoration, or reconstruction of said improvements, and any excess shall belong solely to Lessee.
Fire and Extended Coverage Insurance. During the Lease Term, Landlord shall maintain fire and extended coverage insurance on the Building, but shall not protect Tenant's property on the Leased Premises; and, notwithstanding the provisions of Section 9.01, Landlord shall not be liable for any damage to Tenant's property, regardless of cause, including the negligence of Landlord and its employees, agents and invitees. Tenant hereby expressly waives any right of recovery against Landlord for damage to any property of Tenant located in or about the Leased Premises, however caused, including the negligence of Landlord and its employees, agents and invitees; and, notwithstanding the provisions of Section 9.01 below, Landlord hereby expressly waives any rights of recovery against Tenant for damage to the Leased Premises or the Building which is insured against under Landlord's fire and extended coverage insurance. All insurance policies maintained by Landlord or Tenant as provided in the Lease shall contain an agreement by the insurer waiving the insurer's right of subrogation against the other party to this Lease.
Fire and Extended Coverage Insurance. During the Lease Term, Landlord shall maintain "all-risk" fire and extended coverage insurance on the Building in an amount equal to the full insurable value of the Building and the initial tenant improvements constructed pursuant to Exhibit B, but shall not protect Tenant's personal property on the Leased Premises; and, notwithstanding the provisions of Section 9.01 and Section 9.03, neither party shall be liable for any damage to the other's property, regardless of cause, including the negligence of either party and its employees, agents and invitees. Tenant hereby expressly waives any right of recovery against Landlord for damage to any personal property of Tenant located in or about the Leased Premises, however caused, including the negligence of Landlord and its employees, agents and invitees. Notwithstanding the provisions of Section 9.01 below, Landlord hereby expressly waives any rights of recovery against Tenant for damage to the Leased Premises or the Building, however caused, including the negligence of Tenant and its employees, agents and invitees. All insurance policies maintained by Landlord or Tenant as provided in this Lease shall contain an agreement by the insurer waiving the insurer's right of subrogation against the other party to this Lease.
Fire and Extended Coverage Insurance. Landlord shall, throughout the Lease Term, or any extension or renewal thereof, maintain fire and extended coverage (FEC) insurance on the property owned by Landlord located on the Center in such amounts and with such deductibles as Landlord shall determine. Landlord shall not in any way or manner insure any property of Tenant or any property that may be in the Premises not owned by Landlord. Tenant shall comply with all insurance regulations so that the lowest fire, lightning, explosion, extended coverage and liability insurance rates may be obtained; and nothing shall be done or kept in or on the Premises by Tenant which will cause an increase in the premium for any such insurance on the Premises or on any Building/s of which the Premises are a part or on any contents located therein, over the rate usually obtained for the proper use of the Premises permitted by this Lease or which will cause cancellation of any such insurance.
Fire and Extended Coverage Insurance. Tenant shall, at Tenant's sole ------------------------------------ cost, maintain on Tenant's Alterations and Tenant's Personal Property (as defined below) a policy of standard fire and extended coverage and special form insurance, with vandalism and malicious mischief endorsements, coverage with respect to increased costs due to building ordinances, demolition coverage, boiler and machinery insurance, and sprinkler leakage coverage, in each case to the extent of at least 100 percent of full replacement value, and issued in the name of Tenant with Landlord, Landlord's lender and Landlord's designated agent as additional insureds. Such "full replacement value" shall be determined by Tenant or the company issuing such policy at the time the policy is initially obtained. Not more frequently than once every two years, either Landlord or Tenant may, at its election, notify the other that it elects to have the replacement value redetermined by an insurance company. Such redetermination shall be made promptly and in accordance with the rules and practices of the Board of Fire Underwriters, or a like board recognized and generally accepted by the insurance company, and Landlord and Tenant shall be promptly notified of the results by the company. Such policy shall be promptly adjusted according to such redetermination.
Fire and Extended Coverage Insurance. Lessee shall, at its expense, procure and keep in force at all times during the term of this Agreement with a company suitable to Lessor, insurance on the improvements on the Leased Premises against loss and damage by fire, aircraft and extended coverage perils. Such policy shall be in an amount of not less than one hundred percent (100%) of the replacement cost of improvements, with satisfactory evidence of such coverage furnished to Lessor.
Fire and Extended Coverage Insurance. During the Term of this Lease, Landlord shall procure and maintain an All Risk fire and casualty insurance policy insuring the Building and improvements on the real property in an amount equal to the full replacement cost of such improvements, together with insurance against such other risks (including loss of rent) and in such amounts as Landlord deems appropriate. Such insurance shall be carried with companies authorized to do business in the State of Illinois and rated A or better by Best’s Insurance Rating System or its equivalent. In addition, Tenant agrees to comply with all reasonable requirements of Landlord’s insurance company and to refrain from any activities, which would contravene or violate the reasonable requirements of Landlord’s insurance company. Notwithstanding anything to the contrary contained in this Section, the Landlord’s obligations to carry the insurance provided for in this Section shall be satisfied by the coverages extended to the Landlord by the Park District Risk Management Agency (“PDRMA”) or other similar risk management agency which provides risk management and insurance coverage for park districts so long as the coverages set forth in this Section are maintained. Landlord shall not be responsible for insuring or replacing Tenant’s personal property located in the Lease Premises.
Fire and Extended Coverage Insurance. The County shall procure or cause to be procured and maintain or cause to be maintained, throughout the term of this Sublease, insurance against loss or damage to any structures constituting any part of the Facilities by fire and lightning, with extended coverage insurance, vandalism and malicious mischief insurance and sprinkler system leakage insurance and earthquake insurance, if available on the open market from reputable insurance companies. Said extended coverage insurance shall, as nearly as practicable, cover loss or damage by explosion, windstorm, flood, riot and riot attending a strike, aircraft, vehicle damage, hail, smoke and such other hazards as are normally covered by such insurance. Such insurance shall be in an amount equal to the replacement cost (without deduction for depreciation) of all structures constituting any part of the Facilities, excluding the cost of excavations, of grading and filling, and of the land (except that such insurance may be subject to deductible clauses for any one loss of not to exceed $[250,000] or comparable amount adjusted for inflation or more in the case of earthquake insurance), or, in the alternative, shall be in an amount and in a form sufficient (together with moneys held under the Trust Agreement), in the event of total or partial loss, to enable the County to prepay all or any part of the Base Rental Payments then unpaid, pursuant to Section 7.02 hereof and to redeem outstanding Bonds. In the event of any damage to or destruction of any part of the Facilities, caused by the perils covered by such insurance, the Authority, except as hereinafter provided, shall cause the proceeds of such insurance to be utilized for the repair, reconstruction or replacement of the damaged or destroyed portion of the Facilities, and the Trustee shall hold said proceeds separate and apart from all other funds, in a special fund to be designated the “Insurance and Condemnation Fund,” to the end that such proceeds shall be applied to the repair, reconstruction or replacement of the Facilities to at least the same good order, repair and condition as they were in prior to the damage or destruction, insofar as the same may be accomplished by the use of said proceeds. The Trustee shall permit withdrawals of said proceeds from time to time upon receiving the Written Request of the Authority, stating that the Authority has expended moneys or incurred liabilities in an amount equal to the amount therein requested to be paid over to...
