Reso 2010-1658 - Laserfiche WebLink

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ARTICLE VII Acceptable Vendor Section 1. Acceptable Vendor. Tenant acknowledges that it has limited experience in the operations of an Aquatic Center. Tenant agrees to retain an acceptable vendor to manage and operate the Aquatic Center and associated amenities. At a minimum, the Acceptable Vendor must possess the following qualifications: (a) The Acceptable Vendor must possess the experience, qualifications, good reputation, financial resources, and adequate personnel necessary for the proper management of the Aquatic Center as required under the Lease and Development Agreement. (b) The Acceptable Vendor must establish and maintain an on site management and/or administrative office within the Aquatic Center. (c) The Acceptable Vendor shall have no outstanding material violations of any federal, state or local law, regulation, code or ordinance against the Acceptable Vendor. (d) The Acceptable Vendor must not be owned, controlled or run by entities or individuals who have been convicted or are presently under indictment, for felonies under the laws of any foreign or domestic U.S. jurisdiction. Section 2. Approval of Acceptable Vendor. The Landlord and Tenant agree than an entity shall not be automatically deemed to be an Acceptable Vendor if it satisfies the criteria in Section 1 above. The consent of the Landlord is required before the Tenant enters into any agreement with an entity deemed an Acceptable Vendor. Consent by the Landlord shall not be unreasonably withheld if the Acceptable Vendor meets the criteria in Section 1. ARTICLE VIII Insurance and Indemnity Section 1. Insurance. Tenant shall, at its sole cost and expense, provide and keep in full force and effect at all times during the Term, commencing upon the date unencumbered possession of the Land is delivered to Tenant, the following insurance coverages: (a) Insurance against fire and other hazards (including flood insurance, subject to the statutory coverage limits) on an "all risks" basis in an amount not less than the then full replacement cost (excluding the cost of excavation, foundations and footings) of the Improvements. (b) General public liability insurance in an amount not less than $10,000,000 on a single limit basis, such insurance to cover buildings and improvements including elevators and escalators and all public areas therein, streets, alleys and sidewalks adjacent thereto. (c) Worker's compensation insurance covering all persons employed in connection with any work done on or about the Land and the Improvements (if any) in such amounts and to the extent required by law. 16 U:\City Attorney\HANS\2010 Documents\4m Investors\GROUND LEASE WORKING DRAFT 11.16.IO.doc