Laserfiche WebLink
by the Landlord, and shall name the Landlord as a loss payee. Tenant shall also provide fire <br />insurance on all personal property contained within or on the leased premises. The policy must <br />be written on an "all risks" basis, excluding earthquake and flood. The Tenant shall name the <br />Landlord as additional insured. <br />e. Interruption of Business Insurance. Tenant shall, at its sole cost and <br />expense, maintain business interruption insurance by which the minimum monthly rent will be <br />paid to Landlord for a period of up to (1) year if the premises are destroyed or rendered <br />inaccessible by a risk insured against by a policy of standard fire and extended coverage <br />insurance, with vandalism and malicious mischief endorsements. <br />f. The following requirements apply to the insurance to be provided by <br />Tenant pursuant to this section: <br />i. If the Tenant maintains broader coverage and/or higher limits than the <br />minimums shown above, the Landlord shall be entitled to the broader <br />coverage ant!/or higher limits maintained by the Tenant. Any available <br />insurance proceeds in excess of the specified minimum limits of insurance <br />and coverage shall be available to the Landlord, <br />ii. Tenant shall maintain all insurance required above in full force and effect <br />for the entire period covered by this Agreement. <br />iii. Certificates of insurance shall be furnished to the Landlord upon execution <br />of this Agreement. <br />iv. Certificates and policies shall state that the policies shall not be cancelled <br />or reduced in coverage or changed in any other material aspect without <br />thirty (30) days prior written notice to the City, except for 10 days' notice <br />for non-payment of premium. <br />V. If Tenant fails or refuses to produce or maintain the insurance required by <br />this section or fails or refiises to furnish the Landlord with required proof <br />that insurance has been procured and is in force and paid for, the Landlord <br />shall have the right, at the Landlord's election, to forthwith terminate this <br />Agreement. <br />18. DAMAGE BY CASUALTY: (a) If the Premises is damaged or destroyed by fire, the <br />elements, subsidence of sublateral or subjacent support or other casualty, Tenant shall (i) within <br />(30) days begin repairs and (ii) restore the damaged or destroyed improvements to its condition <br />just prior to the damage, within ninety (90) days, or Landlord may cancel and terminate this <br />Lease. If this Lease is terminated as provided in this Section, Tenant shall be responsible for 180 <br />days of rental payments and Tenant agrees to turn over to Landlord all applicable insurance <br />proceeds received as compensation for damages to the Premises to the extent of actual cost of <br />restoration. <br />(b) If arty such damage or destruction shall occur within the last six (6) <br />months of the Term, or any Extension Period, affecting more than fifty percent (50%) of the <br />