Common use of Liability Risk Clause in Contracts

Liability Risk. Landlord shall purchase commercial general liability insurance as follows: commercial general liability $1,000,000 per occurrence and $2,000,000 in the aggregate and shall provide certificate of insurance to Tenant’s Risk Manager by mailing it to Tenant’s address as provided in Section 1. Tenant shall purchase liability insurance, applicable to use and occupancy of the Premises as follows: commercial general liability, $1,000,000 per occurrence and $2,000,000 in the aggregate combined single limits applicable to Tenant’s use and occupancy of the Premises. The property manager, Scientific Properties, LLC, the Landlord, Edgemont Tenant, LLC and the owner of the Land, Edgemont Realty, LLC, shall be named additional insured as its interest may appear. Tenant shall provide certificate of insurance to Landlord by mailing it to Landlord’s address as provided in Section 1. In lieu of purchasing said liability insurance, Tenant shall have the option to retain such risk."