of the replacement value of that which
is being covered.
8.2
REQUIRED TERMS:
ALL POLICIES PROVIDED FOR HEREIN SHALL BE WITH
FINANCIALLY RESPONSIBLE INSURANCE COMPANIES AUTHORIZED TO DO BUSINESS IN THE
STATE OF MISSISSIPPI.
EACH SUCH POLICY SHALL PROVIDE THAT THE POLICY CANNOT BE
CANCELED WITHOUT THIRTY (30) DAYS PRIOR WRITTEN NOTICE TO LANDLORD.
CERTIFICATES OF INSURANCE EVIDENCING THESE POLICIES SHALL BE DELIVERED TO
LANDLORD.
TENANT SHALL, AT LEAST TEN (10) DAYS PRIOR TO THE EXPIRATION OF SUCH
POLICIES, FURNISH LANDLORD WITH RENEWALS CERTIFICATES OR BINDERS SHOWING NO
LAPSE IN COVERAGE.
8.3
PARTIAL RELEASE OF LIABILITY AND WAIVER OF SUBROGATION:
LANDLORD
AND TENANT RELEASE EACH OTHER AND THEIR RESPECTIVE AGENTS, CONTRACTORS AND
EMPLOYEES, AND LANDLORD RELEASES TENANT'S SUBTENANTS, FROM ANY CLAIMS FOR DAMAGE
TO ANY PERSONS OR PROPERTY THAT ARE CAUSED BY OR RESULT FROM RISKS INSURED
AGAINST UNDER ANY INSURANCE POLICY OR POLICIES REQUIRED BY THIS ARTICLE WHICH
ARE IN FORCE AT THE TIME OF SUCH DAMAGE, BUT ONLY TO THE EXTENT SUCH CLAIMS ARE
COVERED BY SUCH INSURANCE.
THIS RELEASE SHALL BE IN EFFECT WITH RESPECT TO ANY
LOSS ONLY SO LONG AS THE APPLICABLE INSURANCE POLICY(S) CONTAIN A CLAUSE TO THE
EFFECT THAT THIS RELEASE SHALL NOT AFFECT THE RIGHT OF THE NAMED INSURED TO
RECOVER UNDER SUCH POLICIES.
TENANT SHALL CAUSE EACH INSURANCE POLICY OBTAINED
BY IT TO PROVIDE THAT THE INSURANCE COMPANY WAIVES ALL RIGHTS OF RECOVERY BY WAY
OF SUBROGATION AGAINST EITHER OR BOTH LANDLORD AND TENANT IN CONNECTION WITH ANY
DAMAGE COVERED BY SUCH POLICY SO LONG AS A WAIVER OF SUBROGATION IS AVAILABLE
AND CAN BE OBTAINED WITHOUT UNREASONABLE ADDITIONAL COST.
8.4
INDEMNITY:
TENANT SHALL DEFEND WITH COMPETENT COUNSEL, INDEMNIFY
AND HOLD LANDLORD HARMLESS FROM ALL LIABILITY, COSTS AND EXPENSES ARISING BY
REASON OF ANY INJURY OR DEATH TO ANY PERSON OR PERSONS, OR DAMAGE TO PROPERTY OF
ANY PERSON OR PERSONS, INCLUDING WITHOUT LIMITATION, TENANT AND TENANT'S
SERVANTS, AGENTS, EMPLOYEES, CONTRACTORS AND SUBTENANTS FROM ANY CAUSE OR CAUSES
WHATSOEVER (OTHER THAN CAUSES OF LIABILITY, COSTS, AND EXPENSES WITHIN
LANDLORD'S CONTROL OR RESULTING FROM THE FAULT OF LANDLORD OR ITS AGENTS,
CONTRACTORS OR EMPLOYEES OR WHICH ARE CLAIMS SUBJECT TO SECTION
16.4) OCCURRING
IN OR UPON THE PROPERTY DURING THE LEASE TERM.
8.5
BUSINESS INTERRUPTION INSURANCE.
TENANT SHALL HAVE NO OBLIGATION
WHATSOEVER TO OBTAIN OR MAINTAIN DURING THE LEASE TERM BUSINESS INTERRUPTION
INSURANCE, WHETHER FOR THE BENEFIT OF LANDLORD OR TENANT.
ARTICLE 9
MAINTENANCE, REPAIR, AND
RESTORATION OF DAMAGE
9.1
TENANT'S DUTY TO MAINTAIN AND REPAIR:
DURING THE LEASE TERM,
TENANT SHALL, AT ITS SOLE COST AND EXPENSE, (I) KEEP AND MAINTAIN THE PROPERTY
IN GOOD ORDER AND REPAIR (ORDINARY WEAR AND TEAR EXCEPTED), AND (II) MAKE ANY
AND ALL REPAIRS, ALTERATIONS OR
18
improvements to the Property which may be required by any law or other
governmental regulation.
Landlord shall have no obligation to make any repairs,
alterations or improvements to the Property during the Lease Term.
Nothing
contained in this Section shall be construed as limiting any right given