THRIVE SANTA ANA, INC. (2) - Laserfiche WebLink

Home Browse Search

and (b) are admitted to do business in the State of California by the California Department of Insurance. The Tenant may provide any insurance under a "blanket" or "umbrella" insurance policy, provided that (i) such policy or a certificate of such policy shall specify the amount(s) of the total insurance allocated to the Premises and the Project, which amount(s) shall equal or exceed the amount(s) required by this Lease and shall not be reduced for claims made for other properties; and (ii) such policy otherwise complies with this Lease. 8.1.2 Policy Requirements and Endorsements. All insurance policies this Lease requires shall contain (by endorsement or otherwise) the following provisions: (a) Insured. Liability Insurance, Automobile Liability Insurance and Contractor's Insurance policies shall name the Lessor as "additional insured." Property Insurance Policies shall name the Lessor as a "loss payee." The coverage afforded to the Lessor shall be at least as broad as that afforded to the Tenant and may not contain any terms, conditions, exclusions, or limitations applicable to the Lessor that do not apply to the Tenant. (b) Primary Coverage. All policies shall be written as primary policies, not contributing to or in excess of any coverage that the Lessor may carry. (c) Contractual Liability. Liability Insurance policies shall contain contractual liability coverage, for the Tenant's indemnity obligations under this Lease. The Tenant's obtaining or failure to obtain such contractual liability coverage shall not relieve the Tenant from nor satisfy any indemnity obligation of the Tenant under this Lease. (d) Deliveries to the Lessor. Prior to the commencement of any Due Diligence Investigations, and no later than twenty (20) days before any insurance required by this Lease expires, is cancelled or its liability limits are reduced or exhausted, the Tenant shall deliver to the Lessor certificates of insurance evidencing the Tenant's maintenance of all insurance this Lease requires. Each insurance carrier shall give the Lessor no less than thirty (30) calendar days' advance written Notice of any cancellation, non -renewal, material change in coverage or available limits of liability under any insurance policy required by this Lease. Also, phrases such as "endeavor to" and "but failure to mail such Notice shall impose no obligation or liability of any kind upon the company" shall not be included in the cancellation wording of any certificates of insurance or any coverage for the Lessor. (e) Waiver of Certain Claims. The Tenant shall attempt in good -faith to cause the insurance carrier for each Liability Insurance, Automobile Liability Insurance and Property Insurance policy to agree to a Waiver of Subrogation, if not already in the policy. To the extent that the Tenant actually obtains insurance with a Waiver of Subrogation, the Parties release each other, and their respective authorized representatives, from any claims for damage to any Person or property that are caused by or result from risks insured against under such insurance policies. (f) No Representation. Neither Party makes any representation that the limits, scope, or forms of insurance coverage this Lease requires are adequate or sufficient. (g) No Claims Made Coverage. None of the insurance coverage required under this Lease may be written on a claims -made basis. Page120