Ordinance 2024-612 - Laserfiche WebLink

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DocuSign Envelope ID: 2F824D49-F88D-4ED1-B861-25C6564470E2 EXECUTION COPY (d) Fire and All Risk Property coverage (including flood), with an endorsement for increased cost of compliance, on the structures, improvements and fixtures located upon the Leased Premises in an amount equate to not less than ninety percent (90%) of its full insurable value, and shall name the LESSOR and LESSEE as Loss Payees on the policy. The deductible shall be no more than ten percent (10%) of the value of the structures and improvements located upon the Leased Premises. The proceeds of such policy shall be exclusively used as provided in Section 9.3(i) below. At any time during the term of this Lease upon request from LESSEE, LESSOR may secure Fire and All Risk Property coverage for the improvements on the Leased Premises, if possible, for the benefit of LESSEE at LESSEE's expense. Parties may to revise coverage requirements from time to time by mutual consent of the contract administrators. (e) All of the policies of insurance provided for in this Lease: (i) shall be in the form and substance approved by the Florida Office of Insurance Regulations ("F101R') (ii) shall be issued only by companies licensed by FIOIR, (iii) Certificates of Insurance pertaining to same shall be delivered to LESSOR, at least fourteen (14) days prior to the Effective of the Lease Term, (iv) shall be with a carrier having an A Best's Rating of not less than A, Class VII, (v) shall bear endorsements showing the receipt by the respective companies of the premiums thereon or shall be accompanied by other evidence of payment of such premiums to the insurance companies, including evidence of current annual payment, if on any installment payment basis, and (vi) shall provide that they may not be canceled by the insurer for thirty (30) days after service of notice of the proposed cancellation upon LESSOR and shall not be invalidated as to the interest of LESSOR by any act, omission or neglect of LESSEE. (a) Umbrella coverage with limits not less than: (1) $5,000,000 each occurrence and aggregate and (2) follow -form coverage over Commercial General Liability, Automobile Liability, and Employers' Liability policies. (f) In any case where the original policy of any such insurance shall be delivered to LESSEE, a duplicated original of such policy shall thereupon be delivered to LESSOR's Risk Manager. All insurance policies shall be renewed by LESSEE, and certificates evidencing such renewals, bearing endorsements or accompanied by other evidence of the receipt by the respective insurance companies of the premiums thereon, shall be delivered to LESSOR's Risk Manager, at least thirty (30) days prior to their respective expiration dates. 17