05-13-1987 Additions I - Laserfiche WebLink

Home Browse Search

Hereto as fully as the respective parties are themselves bound. Lessee may not assign or sublease its interest in this Lease without the prior, written approval of Lessor. 16. TERMINATION FOR CAUSE. If either the Lessor or the Lessee fails to perform any material covenant herein contained, or hereinafter entered into, then the party so failing does hereby authorize and fully empower the other party to terminate and annul this agreement if the same is not cured within fifteen (15) days of written notice sent by certified mail to the defaulting party. In the event of Lessor's failure, Lessor further empowers the Lessee to quit the leased premises and to declare any and all rents not otherwise due and payable abated. In the event of the Lessee's failure, the Lessee further empowers the Lessor to perfect such removal as it may deem advisable to recovery exclusive possession of all of said premises, including any and all improvements, building or otherwise of a permanent nature, upon the premises at that time. 17. INSURANCE. The Lessee agrees to obtain insurance for property, casualty, and liability for the Lessee's equipment and supplies, employees and invitees only. The Lessor agrees to obtain insurance for property, casualty and liability for the Lessor's property, equipment and supplies, employees and invitees, the cost thereof to be prorated between the Tenants as set forth in Paragraph 8. The Lessor and Lessee agree to provide each other with a copy of said policy /policies. The Lessor and Lessee agree to include errors and omissions insurance coverage for the condition of this agreement. Each of the parties hereby release the other party hereto and waives all claims against the other party for damages to its property, real and personal, arising out of or resulting from fire or efforts to extinguish the same, or arising out of or resulting from any other hazards against which protection can be procured by standard fire and extended perils coverage insurance as the same may be written from time to time or which is covered by other insurance, whether or not such damage from any of said causes is the result of negligent acts or conduct on the part of anyone which, except for this provision, would make any party legally liable to another party for such damage. Each of the parties does hereby waive all rights of subrogation excepting, however, claims for intentional damage for which any party might be legally liable to another party. 18. REPRESENTATIONS. There are no promises or repre- sentations except those contained in this agreement and this agreement may only be changed in writing, signed and acknowledged by both parties and not by any verbal representritions made by either party hereto. 19. ALTERATIONS AND IMPROVEMENTS. Any alterations to the facilities or premises may not be undertaken without the express written consent of the Lessor and the entire cost of any approved alteration will be borne entirely by the Lessee. Any alterations to the facilities shall be deemed permanent in nature and shall revert to the Lessor at no cost upon termination of this lease agreement. Page 11 -5-