98-037 Ordinance - Laserfiche WebLink

Home Browse Search

demised reat estate, howsoever caused. Said waivers shall apply natwithstanding that any such damage or destcvction 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 NQtices. It shall be the duty of said Lessee to give all notices of losa 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) MortgaQee 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 may be available for such uses to the same extent and in the same manner as the Lessee might have done. 13) pglay in buildinQ on Account of Strikes, Etc. If said Lessee should proceed in good faith and with reasonable diligence with the repair, restoration or rebuilding of any building or buildings upon said real estate, under any of the provisions of this lease permitting or requiring such steps, and should be delayed in the progress thereof on account of any strike, act of God, or actions of a public enemy, whereby Lessee shall be unable to procure the necessary buildings materials or labor, the Lessee shall not be deemed in default by reason thereof. During such delays, however, said Lessee shall in no way be relieved of liability for rent and upon other 5