02/28/2000 Council Packet - Laserfiche WebLink

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• The Commercial Automobile Policy shall include at least statutory personal injury protection, uninsured motorists and underinsured motorists coverage. 1 (d) Tenant Property Insurance. The Tenant must keep in force for the duration of the Lease a policy covering damages to its property at the Leased Premises. The amount of coverage shall be sufficient to replace the damaged property, loss of use and comply with any ordinance or law requirements. (e) Adjustment to Insurance Coverage Limits. The coverage limits set forth herein shall be increased at the time of any Renewal Term by 25 %. (f) Additional Insured Certificate of Insurance. The Tenant shall provide, prior to tenancy, evidence of the required insurance in the form of a Certificate of Insurance issued by a company (rated A+ or better), licensed to do business In the state of Minnesota, which includes all coverages required in this Paragraph 10. Tenant will name the Landlord as an Additional Insured on the General Liability and Commercial Automobile Liability Policies. The Certificate(s) shall also provide the coverage may not be canceled, non - renewed, or materially changed without thirty (30) days prior written notice to the Landlord. 11. Damage or Destruction. If the Leased Premises is destroyed or damaged, without contributory fault of the Tenant or its agents, so as, in Tenant's judgment, to hinder its effective use of the Antenna Facilities, Tenant may elect to terminate this Lease upon 30 days' written notice to Landlord. In the event Tenant elects to terminate the Lease, Tenant shall be entitled to reimbursement of prepaid rent covering the period subsequent to the date of damage to or destruction of the Leased Premises. 12. Lease Termination. (a) Events of Termination. Except as otherwise provided herein, this Lease may be terminated by either party upon sixty (60) days written notice to the other party as follows: (i) by either party upon a default of any covenant or term hereof by the other party, which default is not cured within sixty (60) days of receipt of written notice of default to the other party (without, however, limiting any other rights of the parties pursuant to any other provisions hereof); (ii) by Tenant for cause if it is unable to obtain or maintain any license, permit or other governmental approval necessary for the construction and /or operation of the Antenna Facilities or Tenant's business; (iii) by Tenant for cause if the Leased Premises is or becomes