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9036-18 - Lease with Cleveland Clinic at 1450 Belle, Suite 200
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9036-18 - Lease with Cleveland Clinic at 1450 Belle, Suite 200
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general liability insurance, including personal injury, death and property damage <br />insurance, issued in an amount not less than Two Million Dollars ($2,000,000) per <br />occurrence. Landlord shall be named as an additional insured party under said self - <br />insurance or policies. At the commencement of the Term and thereafter at any time <br />within ten (10) days after Landlord's request therefor, Tenant shall deposit with <br />Landlord a copy of all such certificates showing such insurance or self- insurance to <br />be in force with all current premiums therefor paid. All such policies shall contain an <br />undertaking by the insurers to notify the Landlord, in writing, not less than thirty (30) <br />days prior to any adverse material change, cancellation or other termination thereof, <br />or ten (10) days for cancellation due to non - payment of premium. Tenant shall also <br />either self- insure, or obtain and maintain throughout the Term such other forms of <br />insurance as Landlord may reasonably require from time to time, in form and amounts <br />and insuring against risks included within fire, extended coverage, vandalism, <br />malicious mischief and all -risk coverages. <br />Notwithstanding anything to the contrary contained herein, at Tenant's sole discretion, <br />any liability insurance required to be carried by Tenant pursuant to this Lease may be <br />on a claims -made basis and may be provided under: (i) a blanket policy or policies <br />which includes other liabilities, properties and locations of the insuring party, (ii) a plan <br />of self- insurance maintained in whole or in part either under a plan of self- insurance, <br />or from a carrier which specializes in providing coverage to or for Tenant or its <br />affiliates, or firms in the same or related businesses, or (iii) a combination of the <br />foregoing. <br />Landlord shall, at its sole cost and expense, either self- insure, or obtain and maintain <br />throughout the Term and any extension thereof one or more policies of commercial <br />general liability insurance, issued by a company or companies authorized to do <br />business in the State of Ohio, in an amount not less than any amounts of insurance <br />required to be obtained and maintained by Tenant under the terms of this Agreement. <br />If permitted by Landlord's liability carrier, Tenant shall be named as an additional <br />insured party under any such insurance policies described in this section which are <br />required to be obtained and maintained by Landlord. <br />10. DAMAGE OR DESTRUCTION <br />If at any time during the Initial Term or any extension thereof, the whole or a substantial <br />portion of the Building or Premises is so damaged or destroyed by fire or other casualty <br />and such damage or destruction materially affects Tenant's ability to conduct normal <br />business operations in the Premises and such damage cannot reasonably be expected to <br />be repaired within one hundred twenty (120) days, then either Landlord or Tenant may <br />elect to terminate the Lease by so notifying the other within thirty (30) days after the date <br />of the damage or destruction, specifying a date for termination that shall be not less than <br />thirty (30) days from the date of such notice; provided that Landlord give Tenant notice <br />within thirty (30) days of the occurrence of such damage of whether or not the Premises <br />will be repaired within the one hundred twenty (120) days. If neither Landlord nor Tenant <br />so elect to terminate this Lease, then Landlord shall promptly commence to repair and <br />restore the Building and Premises to their condition immediately prior to such fire or <br />casualty except that Landlord shall not be required to repair or restore alterations and <br />additions to the Premises made by Tenant in accordance with the provisions of Section 6 <br />hereof. If Landlord has not completed such repair and restoration within one hundred <br />Contract ID 4164827 <br />Approved as to Form JLS 9/26/2018 <br />
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