SET FORTH IN THIS PARAGRAPH 11, LANDLORD MAY UPON THIRTY (30) DAYS
NOTICE TO TENANT (UNLESS SUCH COVERAGES WILL LAPSE IN WHICH EVENT NO SUCH NOTICE
SHALL BE NECESSARY) PROCURE SUCH POLICIES OF INSURANCE AND TENANT SHALL PROMPTLY
REIMBURSE LANDLORD THEREFOR.
(E)
LANDLORD MAY, AT ANY TIME, BUT NOT MORE THAN ONE (1) TIME IN ANY TWELVE
(12) MONTH PERIOD, REQUIRE A REVIEW OF THE INSURANCE COVERAGE AND LIMITS OF
LIABILITY SET FORTH IN THIS PARAGRAPH 11 TO DETERMINE WHETHER THE COVERAGE AND
THE LIMITS ARE REASONABLE AND ADEQUATE' IN THE EXISTING CIRCUMSTANCES.
THE
REVIEW WILL BE
UNDERTAKEN ON A DATE AND AT A TIME SET FORTH IN LANDLORD'S
NOTICE REQUESTING A REVIEW AND SHALL BE CONDUCTED AT THE PREMISES.
(F)
LANDLORD'S INSURANCE.
LANDLORD SHALL MAINTAIN INSURANCE AGAINST LOSS OR
DAMAGE TO PROPERTY AND PUBLIC LIABILITY AND PROPERTY DAMAGE LIABILITY INSURANCE
AS FOLLOWS:
18
(I)
LANDLORD SHALL PROCURE AND MAINTAIN IN EFFECT WITH INSURERS OF
RECOGNIZED REPUTATION AND RESPONSIBILITY "ALL RISK" PROPERTY INSURANCE IN AN
AMOUNT NOT LESS THAN THE 100% REPLACEMENT COST OF THE REAL AND BUSINESS PERSONAL
PROPERTY AND LOSS OF RENTAL INCOME INSURANCE IN AN AMOUNT EQUAL TO THE TWELVE
MONTHS PROJECTED RENTAL INCOME WITHOUT OFFSET FOR ANY COINSURANCE AND SUBJECT TO
AN "AGREED VALUE" FORM.
(II)
LANDLORD SHALL MAINTAIN IN EFFECT COMMERCIAL GENERAL LIABILITY
INSURANCE AGAINST BODILY INJURY AND PROPERTY DAMAGE LOSSES ARISING OUT OF
OWNERSHIP, USE, CONTROL AND MANAGEMENT OF THE PROPERTY, INCLUDING, BUT NOT
LIMITED TO, CONTRACTUAL LIABILITY AND PRODUCTS & COMPLETE OPERATIONS LIABILITY
INSURANCE IN AN AMOUNT NOT LESS THAN $1,000,000' FOR ANY ONE OCCURRENCE AND
$3,000,000 IN THE AGGREGATE, LANDLORD SHALL NAME TENANT AS AN ADDITIONAL
INSURED.
It is understood and agreed that the insurance requirements contained in this
Paragraph or elsewhere in this Lease or Landlord's or Tenant's compliance
therewith, are not intended to, and shall not be construed to, limit, mitigate
or reduce any of the indemnity obligations of Landlord or Tenant contained in
Paragraph 14 or elsewhere in this Lease.
12.
RELEASE AND SUBROGATION.
In addition to, and not in lieu of, any and all other releases and waivers by
Tenant and Landlord contained in this Lease, Tenant and Landlord each hereby
waives, and releases the other from any and all claims, rights, demands and
causes of action which it might have at any time against the other on account of
loss or damage that is or should be covered by any insurance policy the waiving
party has or is required to have pursuant to this Lease.
Tenant and Landlord
shall obtain from its respective insurers under all policies of fire, theft,
public liability, workmen's compensation and other insurance maintained by
Tenant or Landlord at any time during the term of this Lease insuring or
covering the Premises or any portion thereof or operations therein or therefrom,
a waiver of all rights of subrogation which the insurer of Tenant or Landlord
might have against
the other party and the other affiliated parties described
in Paragraph 11 hereof.
If