THE EXTENT LANDLORDS OF COMPARABLE BUILDINGS IN THE VICINITY OF THE
BUILDING REQUIRE THEIR TENANTS TO CARRY SUCH OTHER FORM(S) OF INSURANCE.
14.3
POLICIES.
ALL POLICIES OF INSURANCE PROVIDED FOR
HEREIN SHALL BE ISSUED BY INSURANCE COMPANIES WITH GENERAL POLICYHOLDERS' RATING
OF NOT LESS THAN A, AS RATED IN THE MOST CURRENT AVAILABLE "BEST'S INSURANCE
REPORTS," AND NOT PROHIBITED FROM DOING BUSINESS IN THE STATE OF CALIFORNIA.
CERTIFICATES OF INSURANCE SHALL BE DELIVERED TO LANDLORD PRIOR TO THE DELIVERY
OF POSSESSION OF THE PREMISES TO TENANT AND THEREAFTER PRIOR TO THE EXPIRATION
OF THE TERM OF EACH SUCH POLICY.
ALL SUCH POLICIES OF INSURANCE SHALL PROVIDE
THAT THE COMPANY WRITING SAID POLICY WILL GIVE TO LANDLORD THIRTY (30) DAYS
NOTICE IN WRITING IN ADVANCE OF ANY CANCELLATION.
NO POLICY SHALL HAVE A
DEDUCTIBLE IN EXCESS OF $500,000 FOR ANY ONE OCCURRENCE.
14.4
LANDLORD'S RIGHTS.
SHOULD TENANT FAIL TO TAKE OUT
AND KEEP IN FORCE EACH INSURANCE POLICY REQUIRED UNDER THIS ARTICLE 14, OR
SHOULD SUCH INSURANCE NOT BE APPROVED BY LANDLORD AND SHOULD THE TENANT NOT
RECTIFY THE SITUATION WITHIN TWO (2) BUSINESS DAYS AFTER WRITTEN NOTICE FROM
LANDLORD TO TENANT, LANDLORD SHALL HAVE THE RIGHT, WITHOUT ASSUMING ANY
OBLIGATION IN CONNECTION THEREWITH, TO PURCHASE SUCH INSURANCE AT THE SOLE COST
OF TENANT, AND ALL COSTS INCURRED BY LANDLORD SHALL BE PAYABLE WITHIN FIVE
(5) DAYS OF DEMAND TO LANDLORD BY TENANT AS ADDITIONAL RENT AND WITHOUT
PREJUDICE TO ANY OTHER RIGHTS AND REMEDIES OF LANDLORD UNDER THIS LEASE.
NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH HEREIN, AT ANY TIME AND FROM
TIME TO
37
TIME, UPON REASONABLE NOTICE TO TENANT, LANDLORD MAY ELECT TO INSURE ALL OR ANY
PART OF THE PREMISES UNDER ITS OWN POLICY OR POLICIES OF INSURANCE, IN WHICH
EVENT, DURING THE PERIOD OF SUCH COVERAGE THE COST OF ANY SUCH POLICIES SHALL BE
AN OPERATING EXPENSE HEREUNDER AND TENANT MAY ELECT TO DISCONTINUE INSURANCE
COVERAGE IT IS OTHERWISE REQUIRED TO CARRY HEREUNDER TO THE EXTENT OF SUCH
INSURANCE PROVIDED BY LANDLORD.
14.5
WAIVER OF SUBROGATION.
NOTWITHSTANDING ANYTHING TO
THE CONTRARY IN THIS LEASE, THE PARTIES HERETO (AND THEIR RESPECTIVE AGENTS,
EMPLOYEES, SUCCESSOR, ASSIGNEES AND, AS TO TENANT, ITS SUBTENANTS) RELEASE EACH
OTHER AND THEIR RESPECTIVE AGENTS, EMPLOYEES, SUCCESSOR, ASSIGNEES AND, AS TO
TENANT, ITS SUBTENANTS FROM DAMAGE TO ANY PROPERTY THAT IS CAUSED BY OR RESULTS
FROM A RISK (I) WHICH IS ACTUALLY INSURED AGAINST, TO THE EXTENT OF RECEIPT OF
PAYMENT UNDER SUCH POLICY, (II) WHICH IS REQUIRED TO BE INSURED AGAINST UNDER
THIS LEASE, OR (III) WHICH WOULD NORMALLY BE COVERED BY THE STANDARD "ALL RISK"
PROPERTY INSURANCE.
LANDLORD AND TENANT (AND EACH OF TENANT'S SUBTENANTS) SHALL
EACH OBTAIN FROM THEIR RESPECTIVE COMMERCIAL PROPERTY INSURERS AT ANY TIME
DURING THE TERM INSURING OR COVERING THE PROPERTY OR ANY PORTION THEREOF OF ITS
CONTENTS THEREIN, A WAIVER OF ALL RIGHTS OF SUBROGATION WHICH THE INSURER OF ONE
PARTY MIGHT OTHERWISE, IF AT ALL, HAVE AGAINST THE OTHER PARTY.
14.6
NO LIABILITY.
NO APPROVAL