have been covered by a customary ISO
Causes of Loss - Special Form property insurance policy, even if the party fails
to obtain such coverage.
The intent of this provision is that each party shall
look solely to its insurance with respect to property damage or destruction
which can be covered by ISO Causes of Loss - Special Form property insurance of
the type described in Section 10.1(a)(ii).
To further effectuate the provisions
of this Section 10.1(d),
Landlord and Tenant both agree to provide copies of
this Lease (and in particular, these waivers) to their respective insurance
carriers and to require such insurance carriers to waive all rights of
subrogation against the other party with respect to property damage covered by
the applicable ISO Causes of Loss - Special Form property insurance policy.
(e)
Tenant acknowledges and agrees that any
contractors (and subcontractors of any tier) hired by Tenant to do work in the
Premises will be required to carry sufficient insurance coverage insuring the
contractor (or subcontractor), Tenant and Landlord with terms equivalent to
those specified in this Section 10.1, and Tenant shall provide certificates of
such insurance to Landlord prior to commencing any work in the Premises.
10.2
LANDLORD'S INSURANCE.
LANDLORD AGREES TO CARRY
OR CAUSE TO BE CARRIED DURING THE TERM HEREOF COMMERCIAL GENERAL AND UMBRELLA
LIABILITY INSURANCE COVERAGE ON THE BUILDING COMPLEX PROVIDING COVERAGE AGAINST
CLAIMS FOR PERSONAL INJURY OR DEATH, PROPERTY DAMAGE AND PRODUCT LIABILITY
OCCURRING UPON, IN OR ABOUT THE BUILDING COMPLEX, SUCH INSURANCE TO BE WRITTEN
ON AN OCCURRENCE BASIS (NOT A CLAIMS MADE BASIS), WITH A LIMIT FOR EACH
OCCURRENCE NOT LESS THAN $1,000,000 AND TO HAVE GENERAL AGGREGATE LIMITS OF NOT
LESS THAN $5,000,000 FOR EACH POLICY YEAR.
THE INSURANCE COVERAGE REQUIRED
UNDER THIS SECTION 10.2 SHALL, IN ADDITION, EXTEND TO ANY LIABILITY OF LANDLORD
ARISING OUT OF THE INDEMNITIES PROVIDED FOR IN SECTION 14.2 AND, IF NECESSARY,
THE POLICY SHALL CONTAIN A CONTRACTUAL ENDORSEMENT TO THAT EFFECT.
CGL
INSURANCE SHALL BE WRITTEN ON ISO OCCURRENCE FORM CG 00 01 01 96 (OR A
SUBSTITUTE FORM PROVIDING EQUIVALENT OR BETTER COVERAGE).
LANDLORD ALSO AGREES
TO CARRY DURING THE TERM HEREOF INSURANCE FOR FIRE, EXTENDED COVERAGE, VANDALISM
AND MALICIOUS MISCHIEF, INSURING THE BUILDING COMPLEX (EXCLUDING FOUNDATIONS,
EXCAVATIONS AND OTHER NON-INSURABLE ITEMS) FOR THE FULL INSURABLE VALUE THEREOF.
LANDLORD MAY, BUT SHALL NOT BE OBLIGATED TO, TAKE OUT AND CARRY ANY OTHER FORM
OR FORMS OF INSURANCE AS IT OR THE MORTGAGEES OF LANDLORD MAY REASONABLY
DETERMINE TO BE ADVISABLE. NOTWITHSTANDING ANY CONTRIBUTION BY TENANT TO THE
COST OF INSURANCE PREMIUMS, AS PROVIDED IN ARTICLE 4, TENANT ACKNOWLEDGES THAT
IT HAS NO RIGHT TO RECEIVE ANY PROCEEDS FROM ANY SUCH INSURANCE POLICIES CARRIED
BY LANDLORD, AND THAT SUCH INSURANCE WILL BE FOR THE SOLE BENEFIT OF LANDLORD,
WITH NO COVERAGE FOR TENANT FOR ANY RISK INSURED AGAINST.
10.3
SUBROGATION. THE PARTIES HERETO AGREE THAT ANY
AND ALL FIRE, EXTENDED COVERAGE AND/OR PROPERTY DAMAGE INSURANCE WHICH IS
REQUIRED TO BE CARRIED BY EITHER SHALL