Earthquake Insurance. If any of the Leased Properties is in a high probability earthquake area (i.e., Zone 1 and 2), and a probable maximum loss ("PML") study reveals that the PML is greater than 10% of the replacement cost (as determined by Landlord), then earthquake insurance must be maintained in an amount equal to the PML percentage of the replacement cost with a deductible not to exceed 5% of the values at risk. The insurance pursuant to this clause (xii) shall be on terms consistent with the comprehensive all risk insurance policy required under clause (i) above.
Appears in 4 contracts
Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)
Earthquake Insurance. If any of the Leased Properties Property is in a high probability earthquake area (i.e., Zone 1 and 2), and a probable maximum loss ("PML") study reveals that the PML is greater than 10% of the replacement cost (as reasonably determined by Landlord), then earthquake insurance must be maintained in an amount equal to the PML percentage of the replacement cost with a deductible not to exceed 5% of the values at risk. The insurance pursuant to this clause (xii) shall be on terms consistent with the comprehensive all risk insurance policy required under clause (i) above.
Appears in 2 contracts
Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust)
