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DO NOT RECORD <br />mentioned insurance contain a "deductible" or any other similar form of limitation on the <br />required coverage. Lessee is required to give the Lessor no less than thirty (30) days <br />notice of cancellation or reduction in coverage. No cancellation provision in any <br />insurance policy shall be construed in derogation of the continuous duty of Lessee to <br />furnish insurance during the terra of this Agreement, <br />Section 4.03 Property Insurance <br />Lessee shall provide to Lessor, before entering the Property, and shall maintain in force <br />during the entire term of this Agreement, property insurance with extended coverage <br />endorsements thereon, on the Property in an amount equal to the full replacement cost <br />and /or value thereof; this policy shall contain a replacement cost endorsement naming <br />Lessee as the insured and shall not contain a co- insurance penalty provision. The policy <br />shall contain a special endorsement that such proceeds shall be used to repair or rebuild <br />any such improvements so damaged or destroyed; and if not so used, such proceeds shall <br />be paid to Lessor, The proceeds of any such insurance payable to Lessor shall be used <br />for rebuilding or repair as necessary to restore the Property at the discretion of Lessor. <br />The policy shall name Lessor as an Additional Insured. <br />The policy or policies shall also contain the following endorsements; <br />1. The insurer will not cancel or reduce the insured's coverage without <br />thirty (30) days prior written notice to Lessor; and <br />1 Lessor will not be responsible for premiums or assessments on the policy. <br />A complete and signed certificate of Insurance with all endorsements required by this <br />Section shall be filed with Lessor prior to the execution of this Agrecment. At least thirty <br />(30) days prior to the expiration of any such policy, a signed and complete certification of <br />insurance showing that coverage has been renewed, shall be filed with Lessor. <br />Section 4.04 Certificates of Insurance; Additional Insured indorsements <br />Prior to execution of this Agreement, Lessee shall furnish to Lessor certificates of <br />insurance and additional insured endorsements to each of Lessee's insurance policies, <br />subject to approval of the City Attorney, evidencing the foregoing insurance coverages as <br />required by this Agreement; these certificates shall: <br />1, 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 Lessor. <br />25E -9 <br />