paid by Tenant within
thirty (30) days after Tenant's receipt of an invoice therefor, and any proceeds
realized by Landlord may be applied to Landlord's costs and expenses and other
amounts owed by Tenant to Landlord.
8.
INSURANCE.
8.1
INSURANCE-TENANT.
(A)
TENANT SHALL OBTAIN AND KEEP IN FORCE DURING THE TERM OF THIS
LEASE A COMMERCIAL GENERAL LIABILITY POLICY OF INSURANCE WITH COVERAGES
REASONABLY ACCEPTABLE TO LANDLORD, WHICH SHALL WITHOUT LIMITATION PROTECT TENANT
AND LANDLORD, ANY LENDER OF LANDLORD AND SUCH OTHER PERSONS AS LANDLORD MAY
REASONABLY REQUEST AS ADDITIONAL INSUREDS, AGAINST CLAIMS FOR BODILY INJURY,
PERSONAL INJURY AND PROPERTY DAMAGE BASED UPON, INVOLVING OR ARISING OUT OF THE
OWNERSHIP, USE, OCCUPANCY OR MAINTENANCE OF THE PREMISES AND ALL AREAS
APPURTENANT THERETO. SUCH INSURANCE SHALL BE ON AN OCCURRENCE BASIS PROVIDING
SINGLE LIMIT COVERAGE IN AN AMOUNT NOT LESS THAN $2,000,000 PER OCCURRENCE WITH
AN "ADDITIONAL INSURED-MANAGERS AND LANDLORDS OF PREMISES ENDORSEMENT" AND
CONTAIN THE "AMENDMENT OF THE POLLUTION EXCLUSION" FOR DAMAGE CAUSED BY HEAT,
SMOKE OR FUMES FROM A HOSTILE FIRE.
THE POLICY SHALL NOT CONTAIN ANY
INTRA-INSURED EXCLUSIONS AS BETWEEN INSURED PERSONS OR ORGANIZATIONS, BUT SHALL
INCLUDE COVERAGE FOR LIABILITY ASSUMED UNDER THIS LEASE (AS THE SAME MAY BE
AMENDED OR MODIFIED FROM TIME TO TIME) AS AN "INSURED CONTRACT."
(B)
TENANT SHALL OBTAIN AND KEEP IN FORCE DURING THE TERM OF THIS
LEASE "SPECIAL FORM" PROPERTY INSURANCE WITH COVERAGES ACCEPTABLE TO LANDLORD,
IN LANDLORD'S SOLE DISCRETION. SAID INSURANCE SHALL BE WRITTEN ON A ONE HUNDRED
PERCENT (100%) REPLACEMENT COST BASIS ON TENANT'S PERSONAL PROPERTY, ALL TENANT
IMPROVEMENTS INSTALLED AT THE PREMISES BY LANDLORD OR TENANT, TENANT'S TRADE
FIXTURES AND OTHER PROPERTY.
SUCH POLICIES SHALL PROVIDE PROTECTION AGAINST ANY
PERIL INCLUDED WITHIN THE CLASSIFICATION "FIRE AND EXTENDED COVERAGE," OR
"SPECIAL FORM COVERAGE" AGAINST VANDALISM AND MALICIOUS MISCHIEF, THEFT,
SPRINKLER LEAKAGE, EARTHQUAKE DAMAGE AND FLOOD DAMAGE.
IF THIS LEASE IS
TERMINATED AS THE RESULT OF A CASUALTY IN ACCORDANCE WITH SECTION 9, THE
PROCEEDS OF SAID INSURANCE ATTRIBUTABLE TO THE REPLACEMENT OF ALL TENANT
IMPROVEMENTS AT THE PREMISES SHALL BE PAID TO LANDLORD.
22
(C)
TENANT SHALL, AT ALL TIMES DURING THE TERM HEREOF, MAINTAIN IN
EFFECT WORKERS' COMPENSATION INSURANCE AS REQUIRED BY APPLICABLE LAW AND
BUSINESS INTERRUPTION AND EXTRA EXPENSE INSURANCE SATISFACTORY TO LANDLORD.
(D)
FROM TIME TO TIME, UPON NOT LESS THAN THIRTY (30) DAYS PRIOR
WRITTEN NOTICE TO TENANT, LANDLORD MAY REQUIRE TENANT TO CARRY SUCH ADDITIONAL
INSURANCE OR HIGHER COVERAGE AMOUNTS AS LANDLORDS OF COMPARABLE BUILDINGS IN THE
GEOGRAPHICAL AREA OF THE PROPERTY ARE REQUIRING OF THEIR TENANTS.
(E)
TENANT SHALL HAVE THE RIGHT TO PROVIDE ITS REQUIRED INSURANCE
COVERAGE PURSUANT TO BLANKET POLICIES OBTAINED BY THE TENANT.
8.2
INSURANCE-LANDLORD.
(C)
LANDLORD SHALL OBTAIN AND KEEP IN FORCE A POLICY OF GENERAL
LIABILITY INSURANCE PROVIDING COVERAGE TO LANDLORD WITH RESPECT TO LIABILITY
ARISING OUT OF THE OWNERSHIP, OPERATION AND MANAGEMENT OF THE PROPERTY.
(D)
LANDLORD SHALL ALSO OBTAIN AND KEEP IN FORCE DURING THE TERM OF
THIS LEASE A COMMERCIALLY REASONABLE POLICY OR POLICIES