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IRVINE COMPANY-2008
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IRVINE COMPANY-2008
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Last modified
1/3/2012 2:50:51 PM
Creation date
7/14/2008 10:29:04 AM
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Contracts
Company Name
IRVINE COMPANY
Contract #
N-2008-081
Agency
COMMUNITY DEVELOPMENT
Expiration Date
12/15/2009
Insurance Exp Date
7/1/2008
Destruction Year
0
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DO NOT RECORD <br />Tenant shall provide to Landlord, before entering the Premises, and shall maintain in <br />force during the entire term of this Agreement, property insurance with extended <br />coverage endorsements thereon covering Tenant's personal property, equipment and <br />fixtures located at the Premises. <br />Section 4.04 Certificates of Insurance; Additional Insured Endorsements <br />Prior to execution of this Agreement, Tenant shall furnish to Landlord certificates of <br />insurance and an additional insured endorsement as to Tenant's liability insurance policy, <br />subject to approval of the City Attorney, evidencing the foregoing insurance coverages as <br />required by this Agreement; these certificates shall: <br />provide the name and policy number of each carrier and policy; <br />2. shall state that the policy is currently in force; and <br />3. shall promise to provide that such policies will not be canceled, suspended, <br />voided, reduced in coverage or in limits, or modified without thirty (30) days <br />prior written notice of Landlord. <br />Tenant shall maintain the foregoing insurance coverages in force throughout the term of this <br />Agreement. The requirement for carrying the foregoing insurance coverages shall not derogate <br />from the provisions for indemnification of Landlord by Tenant under the Agreement. <br />ARTICLE 5 -TERMINATION AND DEFAULT <br />Section 5.01 Termination in the Event of Casualty or Condemnation <br />(a) In the event of any damage, destruction or condemnation of the Premises, <br />which renders the Premises unusable or inoperable in Tenant's reasonable <br />judgment, Tenant shall have the right, but not the obligation, to terminate <br />the Agreement with respect to the subject Premises by giving written <br />notice to Landlord within thirty (30) days after such damage, destruction <br />or condemnation. If by virtue of such casualty or condemnation, <br />Landlord determines that the Premises is no longer adequate for Tenant to <br />continue its operations, or any repairs to the Premises have not been <br />completed or cannot reasonably be completed within sixty (60) days from <br />the date of the damage, destruction or condemnation. This Agreement <br />will become null and void. <br />(b) In the event of condemnation, unless Tenant is allowed by the condemning <br />authority to continue its operations in the Premises, this Agreement shall <br />terminate as of the date title to the Property vests in the condemning <br />authority or Tenant is required to cease its operations, whichever is earlier. <br />If any property described herein or hereinafter added hereto is taken in <br />eminent domain, the entire award shall be paid to Landlord. <br />8DM30209.0104~367911.2 6/16/2008 <br />
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