Common use of Fire and Extended Coverage Insurance Clause in Contracts

Fire and Extended Coverage Insurance. During the Term of this Lease, Landlord shall procure and maintain an All Risk fire and casualty insurance policy insuring the Building and improvements on the real property in an amount equal to the full replacement cost of such improvements, together with insurance against such other risks (including loss of rent) and in such amounts as Landlord deems appropriate. Such insurance shall be carried with companies authorized to do business in the State of Illinois and rated A or better by Best’s Insurance Rating System or its equivalent. In addition, Tenant agrees to comply with all reasonable requirements of Landlord’s insurance company and to refrain from any activities, which would contravene or violate the reasonable requirements of Landlord’s insurance company. Notwithstanding anything to the contrary contained in this Section, the Landlord’s obligations to carry the insurance provided for in this Section shall be satisfied by the coverages extended to the Landlord by the Park District Risk Management Agency (“PDRMA”) or other similar risk management agency which provides risk management and insurance coverage for park districts so long as the coverages set forth in this Section are maintained. Landlord shall not be responsible for insuring or replacing Tenant’s personal property located in the Lease Premises.

Fire and Extended Coverage Insurance. During the Term of this Lease, Landlord shall procure and maintain an All Risk fire and casualty insurance policy insuring the Building and improvements on the real property in an amount equal to the full replacement cost of such improvements, together with insurance against such other risks (including loss of rent) and in such amounts as Landlord deems appropriate. Such insurance shall be carried with companies authorized to do business in the State of Illinois and rated A or better by Best’s Insurance Rating System or its equivalent. In addition, Tenant Xxxxxx agrees to comply with all reasonable requirements of Landlord’s insurance company and to refrain from any activities, which would contravene or violate the reasonable requirements of Landlord’s insurance company. Notwithstanding anything to the contrary contained in this Section, the Landlord’s obligations to carry the insurance provided for in this Section shall be satisfied by the coverages extended to the Landlord by the Park District Risk Management Agency (“PDRMA”) or other similar risk management agency which provides risk management and insurance coverage for park districts so long as the coverages set forth in this Section are maintained. Landlord shall not be responsible for insuring or replacing TenantXxxxxx’s personal property located in the Lease Premises.