Premises Improvements means all interior and exterior improvements, infrastructure, site improvements, landscaping and other onsite or offsite improvements C-7 of any kind or nature whatsoever to be developed, constructed and installed pursuant to the Lease Agreement.
Borrower has, subject only to the Permitted Encumbrances, good, insurable and marketable fee simple title to the Premises, Improvements and Fixtures (collectively, the Realty) and to all easements and rights benefiting the Realty and has the right, power and authority to mortgage, encumber, give, grant, bargain, sell, alien, enfeoff, convey, confirm, pledge, assign, and hypothecate the Property.
All improvements to the Premises (collectively, Premises Improvements) shall be owned by Landlord and shall remain upon the Premises without compensation to Tenant.
Tenant shall carry Commercial Property insurance covering the Premises including fixtures, inventory, equipment, furniture and other personal property (collectively, Tenants Property), Premises Improvements, Alterations and betterments and all other content of the Premises and (if any, such as installed by or for Tenant) all mechanical, plumbing, heating, ventilating, air conditioning, electrical.
So long as an Event of Default has not occurred and is continuing, any insurance proceeds received as a result of any casualty loss to the Project shall be applied by the Concessionaire to the reconstruction and replacement of the Premises Improvements in accordance with this Lease, unless this Lease has been terminated as provided herein, or in the Master Concession Agreement.
By reason of the operation of the forerunner of the Lessee Business on the Leased Premises prior to the Effective Date, Lessee is fully familiar with all physical and environmental conditions affecting the Leased Premises, Improvements and Equipment, as well as the Shared Facilities and Common Areas.