Laserfiche WebLink
DO NOT RECORD <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; and shall state as follows: <br />Tenant represents to Landlord and Landlord acknowledges that Tenant self - insures in the <br />ordinary course of its business. Notwithstanding any other provision contained herein to the <br />contrary, the insurance obligations of Tenant set forth in this Lease may be satisfied by <br />endorsements to existing excess /umbrella policies written by companies of recognized <br />standing showing a self - insurance retention of not less than the public liability requirement. <br />Tenant shall maintain the foregoing insurance coverages in force throughout the term of <br />this Agreement. The requirement for carrying the foregoing insurance coverages shall <br />not derogate from the provisions for indemnification of Landlord by Tenant under the <br />Agreement. Landlord or its representatives shall at all times have the right to demand the <br />original or a copy of all these policies of insurance, which Tenant shall provide within <br />fifteen (15) days of Landlord's request. <br />ARTICLE 5 — TERMINATION AND DEFAULT <br />Section 5.01 Termination <br />(a) This Agreement may be terminated with prior written notice as follows: <br />(1) by Landlord if Tenant fails to pay compensation in a timely manner as <br />provided herein; (2) by either party upon a default of any covenant or <br />term hereof or set forth in the Rider attached hereto by the other party, <br />which default has been noticed and is not cured within fifteen (15) days of <br />receipt of written notice of default; or (3) by Tenant if Tenant is unable to <br />occupy and utilize the Lease Area due to any action of the Interstate <br />Commerce Commission or the Department of Transportation. <br />(b) Landlord shall have at its sole discretion the option of terminating <br />this Agreement if Tenant loses its license to provide bus transportation <br />services for any reason, including, but not limited to, non renewal, <br />cancellation, or expiration of its license. Tenant shall notify the City <br />immediately and in writing of its inability to obtain or maintain such <br />permits, licenses, approvals, waivers, and exemptions. Said inability shall <br />be cause for termination of this Agreement. <br />ARTICLE 6 — ASSIGNMENT, ABANDONMENT, DEFAULT, INSOLVENCY <br />r11l <br />