Common use of Property and Rental Income Insurance Clause in Contracts

Property and Rental Income Insurance. During the Lease Term, Landlord shall maintain (at Tenant’s cost) policies of insurance covering loss of or damage to the Property (including tenant improvements constructed under any construction rider to this Lease which are attached to and become part of the Property) in the full amount of its replacement value. The deductible amount under such policies shall be an amount acceptable to, and determined by, Landlord. Such policy shall provide protection against perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), and any other perils which Landlord deems reasonably necessary. Landlord shall have the right (but no requirement) to obtain (at Tenant’s cost) flood or earthquake insurance if required by any lender holding a security interest in the Property. Tenant shall obtain and pay for insurance for Tenant’s equipment, inventory, furniture, fixtures and other assets which Tenant owns or Tenant holds for others on the Property, and are placed, used, held or installed by Tenant on the Property. During the Lease Term, Landlord shall also obtain (at Tenant’s cost) a rental income insurance policy, with loss payable to Landlord, in an amount equal to twelve (12) months’ Base Rent, plus estimated real property taxes and insurance premiums. Tenant shall be liable for the payment of any deductible amount under Landlord’s or Tenant’s insurance policies maintained by Landlord or Tenant pursuant to this Section 4.4. Tenant shall not do or permit anything to be done which invalidates any such insurance policies. All property insurance and rental income insurance shall provide for all payments of proceeds to be made to Landlord, and Landlord shall be the loss payee (and/or lender(s) designated by Landlord).

Property and Rental Income Insurance. During the Lease Term, Landlord Tenant shall maintain (at Tenant’s cost) policies of insurance covering loss of or damage to the Property (including tenant improvements constructed under any construction rider to this Lease which are attached to and become part of the Property) in the full amount of its replacement value. The deductible amount under such policies value and shall be an amount acceptable to, and determined by, Landlordname Landlord as additional insured thereon. Such policy shall also name Landlord’s mortgage lender as additional insured, mortgagee and loss payee thereon. The parties hereto agree that casualty proceeds shall be paid to the mortgage lender or if there is not a mortgage lender, to a third party administrator mutually agreed upon by Landlord and Tenant, for disbursement. Such policy shall contain an Inflation Guard Endorsement and shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils which Landlord deems reasonably necessary. Landlord shall have the right (but no requirement) to cause Tenant to obtain (at Tenant’s cost) flood or flood, terrorism and earthquake insurance if required by any lender holding a security interest in the Property. Tenant Landlord shall not obtain and pay for insurance for Tenant’s equipment, inventory, furniture, fixtures and other assets which Tenant owns or Tenant holds for others on the Property, and are placed, used, held equipment or building improvements installed by Tenant on the Property. During the Lease Term, Landlord Tenant shall also obtain (at Tenant’s cost) maintain a rental income insurance policy, with loss payable to Landlord, in an amount equal to twelve (12) months’ one year’s Base Rent or Option Rent, as the case may be, plus estimated real property taxes and insurance premiums. Tenant shall be liable for the payment of any deductible amount under Landlord’s or Tenant’s insurance policies maintained by Landlord or Tenant pursuant to this Section 4.44.04, in an amount not to exceed Ten Thousand Dollars ($10,000). Tenant shall not do or permit anything to be done which invalidates any such insurance policies. All property insurance and rental income insurance shall provide for all payments of proceeds to be made to Landlord, and Landlord shall be the loss payee (and/or lender(s) designated by Landlord).

Property and Rental Income Insurance. During the Lease Term, Landlord shall maintain (at Tenant’s cost) policies of insurance covering loss of or damage to the Property (including tenant improvements constructed under any construction rider to this Lease which are attached to and become part of the Property) in the full amount of its replacement value. The deductible amount under such policies shall be an amount acceptable to, and determined by, Landlord. Such policy shall contain an inflation Guard Endorsement and shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils which Landlord deems reasonably necessary. Landlord shall have the right (but no requirement) to obtain (at Tenant’s cost) flood or and earthquake insurance if required by any lender holding a security interest in the PropertyProperty at no cost to Tenant. Tenant Landlord shall not obtain and pay for insurance for Tenant’s equipment, inventory, furniture, fixtures and other assets which Tenant owns or Tenant holds for others on the Property, and are placed, used, held equipment or building improvements installed by Tenant on the Property. During the Lease Term, Landlord shall also obtain (at Tenant’s cost) maintain a rental income insurance policy, at Tenant’s expense, with loss payable to Landlord, in an amount equal to twelve one (121) months’ year’s Base Rent, plus estimated real property taxes and insurance premiums. Tenant shall be liable for the payment of any deductible amount under Landlord’s or Tenant’s insurance policies maintained by Landlord or Tenant pursuant to this Section 4.44.04. Additionally, Tenant shall be liable for the payment of any deductible amount under Landlord’s insurance policies maintained pursuant to this Section 4.04 which deductible amount shall not exceed TWENTY-FIVE THOUSAND DOLLARS ($25,000.00). Tenant shall not do or permit anything to be done which invalidates any such insurance policies. All property insurance and rental income insurance shall provide for all payments of proceeds to be made to Landlord, and Landlord shall be the loss payee (and/or lender(s) designated by Landlord).

Property and Rental Income Insurance. During the Lease Term, Landlord Tenant shall maintain (at Tenant’s cost) policies of insurance covering loss of or damage to the Property (including tenant improvements constructed under any construction rider to this Lease which are attached to and become part of the Property) in the full amount of its replacement value. The deductible amount under such policies shall be an amount acceptable to, and determined by, Landlord. Such policy shall contain an inflation Guard Endorsement and shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils which Landlord deems reasonably necessary. Landlord shall have the right (but no requirement) to obtain (at Tenant’s cost) flood or earthquake insurance if required by any lender holding a security interest in the Property. Tenant shall obtain and pay for insurance for Tenant’s equipment, inventory, furniture, fixtures and other assets which Tenant owns or Tenant holds for others on the Property, and are placed, used, held or installed by Tenant on the Property. During the Lease Term, Landlord Tenant shall also obtain (at Tenant’s cost) maintain a rental income insurance policy, with loss payable to Landlord, in an amount equal to twelve one (121) months’ year's Base Rent, plus estimated real property taxes Real Property Taxes, CAM Charges and insurance premiums. Tenant shall be liable for the payment of any deductible amount under Landlord’s or Tenant’s 's insurance policies maintained by Landlord or Tenant pursuant to this Section 4.44.04, in an amount not to exceed Fifty THOUSAND DOLLARS ($50,000.00). Tenant shall not do or permit anything to be done which invalidates any such insurance policies. All property Tenant shall be liable for payment of any deductible amount. Tenant shall maintain such policies set forth in this Section 4.04(b) provided Landlord and its lenders are named additional insureds under such policies. If Tenant shall fail to deliver certificates of insurance or certificates showing renewal, or if such policies are cancelled or modified as further set forth in Section 4.04(d)(ii), Landlord may obtain such insurance and rental income insurance shall provide have the right to xxxx Tenant directly for all payments the costs of proceeds to be made to Landlord, and Landlord shall be the loss payee (and/or lender(s) designated by Landlord)such policies.