Common use of Owner Requirements Clause in Contracts

Owner Requirements. Owner agrees to maintain all forms of insurance required by law or any loan documents covering the Property and as reasonably deemed by Owner to be necessary or needed to adequately protect Owner and Manager, including but not limited to public liability insurance, boiler insurance, fire and extended coverage insurance, and burglary and theft insurance. All insurance coverage shall be placed with such companies, in such amounts and with such beneficial interest appearing therein as shall be reasonably acceptable to Owner. Public liability insurance shall be maintained in such amounts as Owner determines as commercially reasonable or as otherwise required by its lenders or investors.