EXPIRATION
DATES THEREOF.
IN THE EVENT TENANT SHALL FAIL TO PROCURE SUCH INSURANCE, OR TO
DELIVER SUCH POLICIES OR CERTIFICATE, LANDLORD MAY, AT ITS OPTION, AFTER WRITTEN
NOTICE TO TENANT AND TENANT'S FAILURE TO OBTAIN SUCH INSURANCE WITHIN FIVE
(5) DAYS THEREAFTER, PROCURE SUCH POLICIES FOR THE ACCOUNT OF TENANT, AND THE
COST THEREOF SHALL BE PAID TO LANDLORD WITHIN THIRTY (30) DAYS AFTER DELIVERY TO
TENANT OF BILLS THEREFOR.
32
10.5
SUBROGATION.
LANDLORD AND TENANT INTEND THAT
THEIR RESPECTIVE PROPERTY LOSS RISKS SHALL BE BORNE BY REASONABLE INSURANCE
CARRIERS TO THE EXTENT ABOVE PROVIDED, AND, NOTWITHSTANDING ANY PROVISIONS TO
THE CONTRARY SET FORTH IN THIS LEASE, LANDLORD AND TENANT HEREBY AGREE TO LOOK
SOLELY TO, AND SEEK RECOVERY ONLY FROM, THEIR RESPECTIVE INSURANCE CARRIERS IN
THE EVENT OF A PROPERTY LOSS TO THE EXTENT THAT SUCH COVERAGE IS AGREED TO BE
PROVIDED HEREUNDER.
THE PARTIES EACH HEREBY WAIVE ALL RIGHTS AND CLAIMS AGAINST
EACH OTHER FOR SUCH LOSSES, AND WAIVE ALL RIGHTS OF SUBROGATION OF THEIR
RESPECTIVE INSURERS, PROVIDED SUCH WAIVER OF SUBROGATION SHALL NOT AFFECT THE
RIGHT TO THE INSURED TO RECOVER THEREUNDER.
THE PARTIES AGREE THAT THEIR
RESPECTIVE INSURANCE POLICIES ARE NOW, OR SHALL BE, ENDORSED SUCH THAT THE
WAIVER OF SUBROGATION SHALL NOT AFFECT THE RIGHT OF THE INSURED TO RECOVER
THEREUNDER, SO LONG AS NO MATERIAL ADDITIONAL PREMIUM IS CHARGED THEREFOR
(UNLESS THE OTHER PARTY AGREES TO PAY SUCH ADDITIONAL PREMIUM).
10.6
ADDITIONAL INSURANCE OBLIGATIONS.
TENANT SHALL
CARRY AND MAINTAIN DURING THE ENTIRE LEASE TERM, AT TENANT'S SOLE COST AND
EXPENSE, INCREASED AMOUNTS OF THE INSURANCE REQUIRED TO BE CARRIED BY TENANT
PURSUANT TO THIS ARTICLE 10 AND SUCH OTHER REASONABLE TYPES OF INSURANCE
COVERAGE AND IN SUCH REASONABLE AMOUNTS COVERING THE PREMISES AND TENANT'S
OPERATIONS THEREIN, AS MAY BE REASONABLY REQUESTED BY LANDLORD, BUT IN NO EVENT
IN EXCESS OF THE AMOUNTS AND TYPES OF INSURANCE THEN BEING REQUIRED BY LANDLORDS
OF OTHER COMPARABLE BUILDINGS.
10.7
RISK MANAGEMENT OBLIGATIONS.
LANDLORD AND TENANT
SHALL PROMPTLY ADVISE EACH OTHER AS TO (I) ANY ALLEGED ACCIDENTS OR CASUALTY
KNOWN BY THE REPORTING PARTY WHICH ARE SUBSTANTIALLY LIKELY TO RESULT IN THE
ASSERTION OF A CLAIM AGAINST THE OTHER PARTY, AND (II) THE OCCURRENCE OF ANY
SUBSTANTIAL CASUALTY DAMAGE TO THE PROJECT KNOWN TO THE REPORTING PARTY.
LANDLORD AND TENANT SHALL NOTIFY EACH OTHER PROMPTLY OF ANY THREATENED OR
PENDING CONDEMNATION, REZONING OR OTHER GOVERNMENTAL ORDERS, PROCEEDINGS OR
LAWSUITS INVOLVING THE PROJECT.
ARTICLE 11
DAMAGE AND DESTRUCTION
11.1
REPAIR OF DAMAGE TO PREMISES BY LANDLORD.
IF THE
BUILDING STRUCTURE OR ANY PORTIONS OF THE PROJECT EXISTING OUTSIDE OF THE
BUILDING SERVING OR PROVIDING ACCESS TO THE PREMISES SHALL BE DAMAGED BY FIRE OR
OTHER CASUALTY, LANDLORD SHALL PROMPTLY AND DILIGENTLY, SUBJECT TO REASONABLE
DELAYS FOR INSURANCE ADJUSTMENT OR OTHER MATTERS BEYOND LANDLORD'S REASONABLE
CONTROL (SPECIFICALLY INCLUDING, WITHOUT LIMITATION, ANY REQUIREMENT TO OBTAIN
ANY LICENSE, CLEARANCE OR OTHER AUTHORIZATION OF ANY KIND REQUIRED TO ENTER INTO
AND RESTORE THE PREMISES ISSUED BY ANY GOVERNMENTAL OR QUASI-GOVERNMENTAL AGENCY
HAVING