97-067 Ordinance - Laserfiche WebLink

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together with interest thereon at the rate of twelve percent (12%) per annum, which amounts shall constitute a lien upon the interest of said Lessee in the real estate. B. Lessor agrees to, and does hereby, waive all rights or recovery and causes of action against Lessee and all parties claiming through or under Lessee for any insured damage or destruction to property of Lessor on or about or adjacent to the demised real estate, and Lessee does hereby waive all rights of recovery and causes of action against Lessor and all parties claiming through or under Lessor for any insurable damage or destruction to the buildings and improvements on the demised real estate or personal property of Lessee located on or about the demised real estate, howsoever caused. Said waivers shall apply notwithstanding that any such damage or destruction may be due to the negligence of either party, or the agents or employees of either party, and for which either party may be reimbursed as a result of insurance coverage affecting any loss suffered by either party. Lessor and Lessee agree that any such insurance policies shall include standard waiver of subrogation clauses therein. 10) Lessee to Give Insurance Notices. It shall be the duty of said Lessee to give all notices of loss and make all proofs of loss and render all of such services of every kind as may be necessary and proper in the collection of any and all insurance monies. If said Lessee shall fail t give such notices or make such proofs of loss or render such service then said Lessor may do so. 11) Insurance Polices to Remain With Lessee. Said policy or policies of insurance shall remain in the possession of said Lessee, but upon demand said Lessee shall 1 furnish said Lessor from time to time with satisfactory proof that the amount and type of insurance hereby required is actually being carried by said Lessee upon said premises. 12) Mortgagee Entitled to use Insurance Proceeds. Any mortgage of the leasehold interest created hereby shall require the mortgagee to make the proceeds available to the Lessee for reconstruction, and should Lessee fail promptly to repair, restore or rebuild the building or buildings upon said real estate as required in Paragraph 15. below, and Lessor does not undertake to do so, such repairing, restoring or rebuilding may be undertaken by any mortgagee or mortgagees appearing as such upon the mortgage records in the office of the Recorder of the county wherein the demised real estate is located, who shall have notified said Lessor in writing of their mortgage or mortgages. In such event, said mortgagee or mortgagees shall be entitled to use for those purposes any insurance monies which maybe available for such uses to the same 5