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75A - AGMT FOR 99 YEAR LEASE AT 1901 W WALNUT
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75A - AGMT FOR 99 YEAR LEASE AT 1901 W WALNUT
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2/27/2020 1:32:46 PM
Creation date
2/27/2020 1:17:59 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
75A
Date
3/3/2020
Destruction Year
2025
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(h) Fully Paid and Non -Assessable. All insurance obtained and <br />maintained by the Tenant in satisfaction of the requirements of this Lease shall be fully paid for <br />and non -assessable. <br />(i) Lessor Option to Obtain Coverage. During the continuance of an <br />Event of Default arising from the Tenant's failure to carry any insurance required by this Lease, <br />the Lessor may, at its sole option, purchase any such required insurance coverage and the Lessor <br />shall be entitled to immediate payment from the Tenant of any premiums and associated costs paid <br />by the Lessor for such insurance coverage. Any amount becoming due and payable to the Lessor <br />under this Section 4.9 that is not paid within fifteen (15) calendar days after written demand from <br />the Lessor for payment of such amount, with an explanation of the amounts demanded, will bear <br />interest from the date of the demand at the rate of ten percent (10%) per annum or the maximum <br />rate allowed by California law, whichever is less. Any election by the Lessor to purchase or not <br />to purchase insurance otherwise required by the terms of this Lease to be carried by the Tenant <br />shall not relieve the Tenant of its obligation to obtain and maintain any insurance coverage required <br />by this Lease. <br />(j) Cross -Liability; Severability of Interests. All Liability Insurance <br />and Contractor's Insurance shall be endorsed to provide cross -liability coverage for the Tenant and <br />the Lessor and to provide severability of interests. <br />(k) Deductibles and Self -Insured Retentions. The Tenant shall pay or <br />cause to be paid any and all deductibles and self -insured retentions under all insurance policies <br />issued in satisfaction of the terms of this Lease regarding any claims relating to the Lessor. <br />(1) No Separate Insurance. The Tenant shall not carry separate or <br />additional insurance concurrent in form or contributing in the event of loss with that required under <br />this Lease, unless endorsed in favor of the Lessor, as required by this Lease. <br />(m) Insurance Independent of Indemnification. The insurance <br />requirements of this Lease are independent of the Tenant's indemnification and other obligations <br />under this Lease and shall not be construed or interpreted in any way to satisfy, restrict, limit, or <br />modify the Tenant's indemnification or other obligations or to limit the Tenant's liability under <br />this Lease, whether within, outside, or in excess of such coverage, and regardless of solvency or <br />insolvency of the insurer that issues the coverage; nor shall the provision of such insurance <br />preclude the Lessor from taking such other actions as are available to it under any other provision <br />of this Lease or otherwise at law or in equity <br />8.2 Indemnification. <br />8.2.1 Obligations. The Lessor shall Indemnify the Tenant and the Tenant shall <br />Indemnify the Lessor against any wrongful intentional act or negligence of the Indemnitor. The <br />Tenant shall also Indemnify the Lessor against any and all of the following: (a) any Application <br />made at the Tenant's request; (b) any Due Diligence Investigations by the Tenant; (c) use, <br />occupancy, management or operation of the Project; (d) any agreements that the Tenant (or anyone <br />claiming through the Tenant) makes regarding the Project; (e) the condition of the Project or any <br />space under, adjoining or appurtenant to the Premises; and, (i) any accident, injury or damage <br />Page 121 <br />75A-68 <br />
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