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25G - AGMT - AUTOZONE LEASE
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25G - AGMT - AUTOZONE LEASE
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Last modified
4/30/2015 3:26:59 PM
Creation date
4/30/2015 3:21:19 PM
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City Clerk
Doc Type
Agenda Packet
Agency
City Manager's Office
Item #
25G
Date
5/5/2015
Destruction Year
2020
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17, L9ABill INSURANCE: (a) Throughout the Term or any Extension Period, Tenant <br />shall maintain commercial general liability insurance for injury to person (including death) or <br />damage to property occurring within the building arising out of the use and occupancy thereof by <br />Tenant, its licensees, employees, invitees, agents and customers. Such insurance shall be with <br />rrlinimum single limits of Two Million Dollars ($2,000,000.00) for personal injury, death or property <br />damage, and Landlord shall be named as additional insured under the policy. Said insurance may <br />be in the form of a general coverage or floater policy covering these and other premises, provided <br />that Landlord is named an additional insured in said policy. After the Commencement Date, and <br />thereafter upon written request of Landlord, Tenant shall deliver to Landlord a certificate of such <br />insurance naming Landlord as an additional insured. <br />18. DAMAGE BY CASUALTY: (a) If the building or other improvements on the Demised <br />Premises is damaged or destroyed by fire, the elements, subsidence of sublateral or subjacent <br />support or other casualty, Tenant shall (i) within ninety (90) days begin repairs and (ii) restore the <br />damaged or destroyed improvements to its condition just prior to the damage, within one hundred <br />eighty (180) days, or Tenant may cancel and terminate this Lease. If this Lease is cancelled and <br />terminated as provided in this Section 18(a), Tenant shall reimburse Landlord for all abated rental <br />payments under Subsection (b) below and Tenant agrees to turn over to Landlord all applicable <br />insurance proceeds received as compensation for damages to the Demised Premises to the <br />extent of the actual cost of restoration. <br />(b) If Tenant is not actually open for business during all or any part of the period <br />( "Restoration Period ") from the date of such damage or destruction as aforesaid until the date the <br />Demised Premises is restored in accordance with the terms of this Lease, all Rent or other sums <br />payable hereunder shall abate for such period as Tenant is not open for business. If Tenant is <br />open for business during the Restoration Period, the Rent and other sums payable hereunder <br />shall abate in proportion to the usable space; provided, however; that if Tenant does not proceed <br />diligently with restoration of the Demised Premises, all Rent and other sums payable hereunder <br />shall not abate. <br />(c) Tenant agrees to keep in effect on the Demised Premises and to provide Tenant <br />proof of fire insurance with extended coverage endorsement on the improvements to the Demised <br />Premises of the full replacement value of the buildings and improvements thereon. <br />508 Freestanding Building Lease 042120.15 25G-8 6 <br />
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