be) procurement of a commercial general liability
insurance policy as required herein, LGI De shall permit NetREIT and NetREIT's
authorized agents, consultants and contractors to enter upon the Property during
reasonable business hours to make and perform such non-invasive environmental
evaluations, and other non-invasive inspections, investigations, tests and
studies of the physical condition of the Property as NetREIT may elect to make
or obtain.
NetREIT shall maintain, and shall ensure that NetREIT's agents,
consultants and contractors maintain, public liability and property damage
insurance insuring against any liability arising out of any entry, inspections,
investigations, tests or studies of the Property pursuant to the provisions
hereof.
Such insurance maintained by NetREIT and/or NetREIT's agents,
consultants and contractors (as applicable) shall be in the amount of Two
Million Dollars ($2,000,000) combined single limit for injury to or death of one
or more persons in an occurrence, and for damage to tangible property (including
loss of use) in an occurrence.
The policy maintained by NetREIT shall insure
the contractual liability of NetREIT covering the indemnities herein and shall
(a) name LGI De (and their successors, assigns and affiliates) as additional
insureds, and (b) contain a provision that "the insurance provided by NetREIT
hereunder shall be primary and non-contributing with any other insurance
available to LGI De."
NetREIT shall provide LGI De with evidence of such
insurance coverage prior to any entry, inspections, investigations, tests or
studies of the Property by NetREIT or any of NetREIT's
agents, consultants or contractors.
The aforementioned insurance coverage may
be obtained under a blanket policy carried by NetREIT or NetREIT's agents,
consultants or contractors, as the case may be.
Notwithstanding anything to the
contrary contained in this Agreement, NetREIT shall not be permitted to
undertake any invasive, intrusive or destructive investigation, testing or study
of the Property, including a "Phase II" environmental assessment, without in
each instance first obtaining LGI De's written consent thereto, which consent
LGI De may give, withhold or condition in LGI De's sole and absolute
discretion.
Prior to any entry onto the Property (and on each and every
occasion), NetREIT shall deliver to LGI De prior written notice, or prior verbal
notice wherein NetREIT actually speaks with a representative of LGI De (i.e. not
a voice mail message), not less than two (2) Business Days prior to such entry,
and NetREIT shall afford LGI De a reasonable opportunity to have a
representative of LGI De present to accompany NetREIT or NetREIT's agents,
consultants and contractors while any inspections, investigations, tests or
studies of the Property are made or performed; provided, however, that entry
onto the Property by NetREIT and/or NetREIT's agents, consultants and/or
contractors (as the case may be), shall be subject to any restrictions and/or
instructions as LGI De shall deem necessary, in its sole discretion; and
provided, further, that NetREIT hereby agrees to cooperate with and abide by LGI
De's restrictions and/or instructions.
If requested by LGI De, NetREIT shall
provide LGI De the identity of the company or party(s) who