PERMIT TO BE MADE, ANY
ALTERATION, ADDITION OR IMPROVEMENT (HEREINAFTER REFERRED TO INDIVIDUALLY AS AN
"ALTERATION" AND COLLECTIVELY AS THE "ALTERATIONS") TO THE PREMISES OR ANY PART
THEREOF OTHER THAN IN COMPLIANCE WITH THE PROVISIONS OF THIS PARAGRAPH XI.
ANY
ALTERATIONS OTHER THAN COSMETIC ALTERATIONS (AS DEFINED BELOW) SHALL BE
PERFORMED ONLY WITH THE PRIOR WRITTEN CONSENT OF LANDLORD, WHICH CONSENT SHALL
NOT BE UNREASONABLY WITHHELD.
TENANT MAY, UPON WRITTEN NOTICE TO LANDLORD AS
PROVIDED BELOW IN PARAGRAPH 11.06 BUT WITHOUT LANDLORD'S CONSENT, MAKE
ALTERATIONS INVOLVING PAINT OR NEW WALL COVERINGS, CARPETING OR NEW FLOOR
COVERINGS, OR SIMILAR COSMETIC WORK FOR WHICH A BUILDING PERMIT IS NOT REQUIRED
UNDER APPLICABLE LAWS, SO LONG AS THE COST THEREOF DOES NOT EXCEED SEVENTY-FIVE
THOUSAND DOLLARS ($75,000.00) PER PROJECT ("COSMETIC ALTERATIONS"), PROVIDED
THAT (I) AN EVENT OF DEFAULT IS NOT CONTINUING, (II) THE ALTERATIONS DO NOT
MATERIALLY REDUCE THE VALUE OF THE PREMISES, AND (III) THE ALTERATIONS ARE
PERFORMED IN FULL COMPLIANCE WITH THE TERMS OF PARAGRAPHS 11.02 THROUGH 11.05
BELOW.
11.02
COMPLIANCE WITH LAWS; INSURANCE.
ANY ALTERATION TO THE PREMISES
SHALL BE AT TENANT'S SOLE COST AND EXPENSE, IN COMPLIANCE WITH ALL APPLICABLE
LAWS AND ALL REQUIREMENTS REASONABLY REQUESTED BY LANDLORD, INCLUDING, WITHOUT
LIMITATION, THE REQUIREMENTS OF ANY INSURER PROVIDING COVERAGE FOR THE PREMISES
OR THE PROJECT OR ANY PART THEREOF, AND IN ACCORDANCE WITH PLANS AND
SPECIFICATIONS APPROVED IN WRITING BY LANDLORD.
BEFORE ALTERATIONS MAY BEGIN,
VALID BUILDING PERMITS OR OTHER PERMITS OR LICENSES REQUIRED MUST BE FURNISHED
TO LANDLORD, AND, ONCE THE ALTERATIONS BEGIN, TENANT WILL DILIGENTLY AND
CONTINUOUSLY PURSUE THEIR COMPLETION.
TENANT SHALL MAINTAIN DURING THE COURSE
OF CONSTRUCTION, AT ITS SOLE COST AND EXPENSE, BUILDERS' RISK INSURANCE FOR THE
AMOUNT OF THE COMPLETED VALUE OF THE ALTERATIONS ON AN ALL-RISK NON-REPORTING
FORM COVERING ALL IMPROVEMENTS UNDER CONSTRUCTION, INCLUDING BUILDING MATERIALS,
AND OTHER INSURANCE IN AMOUNTS AND AGAINST SUCH RISKS AS LANDLORD SHALL
REASONABLY REQUIRE IN CONNECTION WITH THE ALTERATIONS.
IN ADDITION TO AND
WITHOUT LIMITATION ON THE GENERALITY OF THE FOREGOING, TENANT SHALL ENSURE THAT
ITS CONTRACTOR(S) AND SUBCONTRACTOR(S) PROCURE AND MAINTAIN IN FULL FORCE AND
EFFECT DURING THE COURSE OF CONSTRUCTION (I) A "BROAD FORM" COMMERCIAL GENERAL
LIABILITY AND PROPERTY DAMAGE POLICY OF INSURANCE NAMING LANDLORD AND TENANT AS
ADDITIONAL INSUREDS, AND (II) STATUTORY WORKER'S COMPENSATION INSURANCE, AND
EMPLOYER'S LIABILITY INSURANCE WITH A MINIMUM LIMIT OF COVERAGE OF ONE MILLION
DOLLARS ($1,000,000.00).
THE LIMIT OF COVERAGE OF THE AFORESAID POLICY SHALL
BE, WITH RESPECT TO TENANT'S GENERAL CONTRACTOR, TWO MILLION DOLLARS
($2,000,000.00) FOR INJURY OR DEATH OF ONE PERSON IN ANY ONE ACCIDENT OR
18
OCCURRENCE AND TWO MILLION DOLLARS ($2,000,000.00) FOR INJURY OR DEATH OF MORE
THAN ONE PERSON IN ANY ONE ACCIDENT OR OCCURRENCE, AND, WITH RESPECT TO
SUBCONTRACTORS, ONE MILLION DOLLARS ($1,000,000.00) FOR INJURY OR DEATH OF ONE
PERSON IN ANY ONE ACCIDENT OR OCCURRENCE AND NOT LESS THAN ONE MILLION DOLLARS
($1,000,000.00) FOR INJURY OR DEATH OF MORE THAN ONE PERSON IN ANY ONE ACCIDENT
OR OCCURRENCE, AND, IN EITHER CASE, SHALL