OWN COST AND EXPENSE, COMPREHENSIVE GENERAL LIABILITY INSURANCE COVERAGE
IN A MINIMUM AMOUNT OF $1,000,000.00 COMBINED SINGLE LIMIT, WHICH COMPREHENSIVE
GENERAL LIABILITY POLICY SHALL INCLUDE (I) COVERAGE FOR BODILY INJURY AND DEATH,
PROPERTY DAMAGE AND PRODUCTS LIABILITY COVERAGE; (II) CONTRACTUAL LIABILITY
COVERAGE INSURING THE OBLIGATIONS OF TENANT UNDER THE TERMS OF THIS LEASE; AND
(III) FIRE LEGAL LIABILITY COVERAGE WITH RESPECT TO THE LEASED PREMISES AND THE
BUILDING OF WHICH THEY ARE A PART IN THE AMOUNT OF AT LEAST $25,000.00.
SUCH
POLICY SHALL NAME LANDLORD (AND ANY OF ITS AFFILIATES, SUBSIDIARIES, SUCCESSORS
AND ASSIGNS DESIGNATED BY LANDLORD AS AN ADDITIONAL INSURED.
SUCH POLICY SHALL
CONTAIN A CONTRACTUAL LIABILITY ENDORSEMENT.
If Tenant is engaged in any way in the sale of alcoholic beverages, either for
consumption of alcoholic beverages on the premises or off the premises, Tenant
will also maintain liquor liability insurance with the limits of not less than
$1,000,000.00 each common cause and $1,000,000.00 aggregate.
If written on a
separate policy from the comprehensive general liability policy, such policy
shall name Landlord (and any of its affiliates, subsidiaries, successors and
assigns designated by Landlord) as an additional insured.
Such policy shall
contain a cross liability endorsement or severability provision.
SECTION 12.05
TENANT'S REQUIRED INSURANCE POLICIES.
THE POLICIES OF INSURANCE
REQUIRED TO BE MAINTAINED BY TENANT UNDER THE TERMS OF THIS LEASE ARE REFERRED
TO IN THIS SECTION 12.05 IN THE SINGULAR AS A "REQUIRED POLICY" AND IN THE
PLURAL AS "REQUIRED POLICIES."
ALL REQUIRED POLICIES SHALL BE IN A FORM AND
WITH A COMPANY REASONABLY ACCEPTABLE TO LANDLORD AND SHALL BE ENDORSED SO AS TO
BE NON-CANCELABLE WITH RESPECT TO LANDLORD AND NOT SUBJECT TO MATERIAL CHANGE
EXCEPT UPON THIRTY (30) DAYS PRIOR WRITTEN NOTICE TO LANDLORD GIVEN IN THE
MANNER SET FORTH IN ARTICLE XXIII, BELOW.
TENANT AGREES TO INITIALLY DELIVER TO
LANDLORD A DUPLICATE ORIGINAL OR CERTIFICATE OF EACH REQUIRED POLICY UPON TENDER
OF POSSESSION OF THE LEASED PREMISES TO TENANT AND AT ALL TIMES DURING THE LEASE
TERM, TO MAINTAIN A DUPLICATE ORIGINAL OR A CERTIFICATE OF
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all Required Policies on deposit with Landlord.
Tenant shall be entitled to
satisfy all Required Policies through blanket coverage policies.
SECTION 12.06
LANDLORD INSURANCE REQUIREMENTS.
LANDLORD SHALL, AT ALL TIMES
DURING THE LEASE TERM, INSURE THE BUILDING AND COMMON AREAS FOR NOT LESS THAN
EIGHTY PERCENT (80%) OF THEIR REPLACEMENT VALUE UNDER FIRE AND EXTENDED COVERAGE
INSURANCE POLICIES.
LANDLORD SHALL MAINTAIN COMMERCIAL LIABILITY INSURANCE,
WITH CONTRACTUAL LIABILITY COVERAGE, WITH LIMITS WHICH ARE AT LEAST AS MUCH AS
ARE REQUIRED TO BE CARRIED BY TENANT.
ANYTHING IN THIS LEASE TO THE CONTRARY
NOTWITHSTANDING, LANDLORD WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION
OR CAUSE OF ACTION, AGAINST TENANT, ITS AGENTS, OFFICERS AND EMPLOYEES, FOR ANY
LOSS OR DAMAGE THAT MAY OCCUR TO THE BUILDING OR SHOPPING CENTER, OR ANY
IMPROVEMENTS THERETO OR ANY PERSONALTY OR IMPROVEMENTS CONTAINED THEREIN, BY
REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH COULD BE INSURED AGAINST
UNDER THE TERMS