provisions of the foregoing sentence shall be deemed an Event of
Default entitling Landlord to exercise all of its remedies therefor without the
requirement of any additional notice or cure period.
13.
Insurance.
A.
LANDLORD SHALL, AT ALL TIMES DURING THE
LEASE TERM, PROCURE AND MAINTAIN: (I) POLICIES OF INSURANCE COVERING LOSS OR
DAMAGE TO THE PROPERTY IN AN AMOUNT EQUAL TO THE FULL REPLACEMENT COST OF THE
BUILDING, INCLUDING LEASEHOLD IMPROVEMENTS IN THE PREMISES, WHICH SHALL PROVIDE
PROTECTION AGAINST LOSS BY FIRE AND OTHER ALL-RISK CASUALTIES INCLUDING
EARTHQUAKE AND FLOOD AND SUCH OTHER PROPERTY INSURANCE AS MAY BE REQUIRED BY
LANDLORD'S MORTGAGEE OR AS OTHERWISE DESIRED BY LANDLORD, AND (II) COMMERCIAL
GENERAL LIABILITY INSURANCE APPLICABLE TO THE BUILDING AND THE COMMON AREAS,
PROVIDING A MINIMUM LIMIT OF $3,000,000.00 PER OCCURRENCE.
B.
TENANT SHALL PROCURE AND MAINTAIN, AT ITS
EXPENSE, (I) ALL-RISK (SPECIAL FORM) PROPERTY INSURANCE IN AN AMOUNT EQUAL TO
THE FULL REPLACEMENT COST OF TENANT'S PROPERTY LOCATED IN THE PREMISES; (II) A
POLICY OR POLICIES OF GENERAL LIABILITY AND UMBRELLA OR EXCESS LIABILITY
INSURANCE APPLYING TO TENANT'S OPERATIONS AND USE OF THE PREMISES, PROVIDING A
MINIMUM LIMIT OF $3,000,000.00 PER OCCURRENCE AND IN THE AGGREGATE, NAMING
LANDLORD AND LANDLORD'S BUILDING MANAGER AS ADDITIONAL INSUREDS, (III)
AUTOMOBILE LIABILITY INSURANCE COVERING OWNED, NON-OWNED AND HIRED VEHICLES IN
AN AMOUNT NOT LESS THAN A COMBINED SINGLE LIMIT OF $1,000,000.00 PER ACCIDENT,
AND (IV) WORKERS' COMPENSATION INSURANCE IN ACCORDANCE WITH THE LAWS OF THE
STATE IN WHICH THE PROPERTY IS LOCATED AND EMPLOYER'S LIABILITY INSURANCE IN AN
AMOUNT NOT LESS THAN $1,000,000.00 EACH ACCIDENT, $1,000,000.00 DISEASE-EACH
EMPLOYEE AND POLICY LIMIT, WITH THE INSURANCE POLICIES REQUIRED UNDER THIS
CLAUSE (IV) TO BE ENDORSED TO WAIVE THE INSURANCE CARRIERS' RIGHT OF
SUBROGATION. TENANT SHALL
11
MAINTAIN THE FOREGOING INSURANCE COVERAGES IN EFFECT COMMENCING ON THE EARLIER
TO OCCUR OF THE COMMENCEMENT DATE AND THE DATE TENANT TAKES POSSESSION OF THE
PREMISES, AND CONTINUING TO THE END OF THE LEASE TERM.
C.
THE INSURANCE REQUIREMENTS SET FORTH IN
THIS SECTION 13 ARE INDEPENDENT OF THE WAIVER, INDEMNIFICATION, AND OTHER
OBLIGATIONS UNDER THIS LEASE AND WILL NOT BE CONSTRUED OR INTERPRETED IN ANY WAY
TO RESTRICT, LIMIT OR MODIFY THE WAIVER, INDEMNIFICATION AND OTHER OBLIGATIONS
OR TO IN ANY WAY LIMIT ANY PARTY'S LIABILITY UNDER THIS LEASE. IN ADDITION TO
THE REQUIREMENTS SET FORTH IN SECTIONS 13 AND 14, THE INSURANCE REQUIRED OF
TENANT UNDER THIS LEASE MUST BE ISSUED BY AN INSURANCE COMPANY WITH A RATING OF
NO LESS THAN A-VIII IN THE CURRENT BEST'S INSURANCE GUIDE OR THAT IS OTHERWISE
ACCEPTABLE TO LANDLORD, AND ADMITTED TO ENGAGE IN THE BUSINESS OF INSURANCE IN
THE STATE IN WHICH THE BUILDING IS LOCATED; BE PRIMARY INSURANCE FOR ALL CLAIMS
UNDER IT AND PROVIDE THAT ANY INSURANCE CARRIED BY LANDLORD, LANDLORD'S BUILDING
MANAGER, AND LANDLORD'S LENDERS IS STRICTLY EXCESS, SECONDARY AND
NONCONTRIBUTING WITH ANY INSURANCE CARRIED BY TENANT; AND PROVIDE THAT INSURANCE
MAY NOT BE CANCELLED, NONRENEWED OR THE SUBJECT OF CHANGE IN COVERAGE OF
AVAILABLE