Laserfiche WebLink
<br />or originally executed certificates thereof to be delivered to Landlord prior to Landlord's <br />execution of this Lease, and not less than 30 days prior to any renewal thereof As often as <br />any such policy shall expire or terminate, Tenant shall procure and maintain renewal or <br />additional policies with like terms. None of such policies shall contain any co-insurance <br />requirements and all such policies shall provide for written notice to Landlord not less <br />than 10 days prior to any modification, cancellation, lapse, or reduction in the amounts of <br />insurance, and shall further provide that any loss otherwise payable thereunder shall be <br />payable notwithstanding any act or negligence of Landlord or Tenant which might, absent <br />such provision, result in a forfeiture of all or part of the payment of such loss. All general <br />liability, property damage, and other casualty policies shall be written on an occurrence basis as <br />primary policies, not contributing with or in excess of coverage which Landlord may carry. <br /> <br />5.2.2 Tenant's obligations to carry the insurance provided for above may <br />be brought within the coverage of an "umbrella" policy or policies of insurance carried <br />and maintained by Tenant; provided, however, that such policy or policies shall (i) have limits <br />of not less than $5,000,000 (five million dollars), (ii) name Landlord and any mortgagee <br />or beneficiary of Landlord as additional insureds as their interests may appear, and (iii) <br />provide that the coverage afforded Landlord will not be reduced or diminished by reason of <br />the use of such blanket policies. Tenant agrees to permit Landlord at all reasonable times to <br />inspect any policies of insurance of Tenant which Tenant has not delivered to Landlord. <br /> <br />5.3 Subrogation Waiver. Landlord (for itself and its insurer) hereby waives <br />any rights, including rights of subrogation, and Tenant (for itself and its insurer) hereby <br />waives any rights, including rights of subrogation, each may have against the other on account <br />of any loss or damage occasioned to Landlord or Tenant, as the case may be, to their respective <br />property, the Premises or its contents that are caused by or result from risks insured <br />against under any insurance policies carried by the parties hereto and in force at the time of <br />any such damage. The foregoing waivers of subrogation shall be operative only so long as <br />available in the jurisdiction where the Premises are located and so long as no policy of insurance <br />is invalidated thereby. <br /> <br />5.4 Payment of Insurance. In the event. that Tenant shall fail to obtain the <br />insurance policies required hereunder or to pay the premiums due for the insurance <br />policies required hereby, Landlord shall have the right, but not the obligation, to pay the <br />same in which case Tenant shall repay such amount plus any penalties or additional amounts <br />resulting there from to Landlord within 5 days after receipt of a bill therefor. <br /> <br />5.5 Insurance Use Restrictions. Any insurance the Landlord may maintain shall not <br />cover Tenant's improvements and betterments, contents, or other property of Tenant. Tenant shall <br />not violate, or permit the violation of, any condition imposed by any of the Landlord's insurance <br />policies, and shall not do, or permit anything to be done, or keep or permit anything to be keptin <br />the Restaurant which would increase the fire or other property or casualty insurance rate on the <br />building or buildings in which the Restaurant is located or the property therein over the rate <br />which would otherwise then be in effect (unless Tenant pays the resulting increased amount of <br /> <br />11 <br />