Agenda Packets - 1998/12/28 - Laserfiche WebLink

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or damaged by any uninsured casualty, Landlord shall have the option to rebuild or to terminate this lease by exercise of notice to Tenant given not more than 6 months from the date of such damage. 10.2 TENANT'S INSURANCE COVERAGE. Tenant shall carry insurance against fire and such other risks as are from time to time included in standard extended coverage insurance for the full insurable value of the Demised Premises. Tenant shall also carry said insurance for the full insurable value of Tenant's merchandise, trade fixtures, furnishings, wall covering, carpeting, drapes,equipment and all other items of personal property of Tenant located on or within the Demised premises. Any insurance policies required to be carried pursuant to this paragraph shall name Landlord as an additional insured, and Tenant shall furnish Landlord evidence of such insurance coverage. Such insurance policies may not be modified or terminated without thirty (30) days advance notice to Landlord. 10.3 INDEMNIFICATION. Each party hereto ("Releasing Party") hereby releases the other("Released Party") from any liability which the Released Party would, but for this paragraph, have had to the Releasing Party arising out of or in connection with any accident or occurrence or casualty: (a) Which is or would be covered by a fire and extended coverage policy (with vandalism and malicious mischief endorsement attached) or by a sprinkler leakage or water damage policy in the state in which the Demised Premises is located regardless of whether or not such coverage is being carried by the Releasing party, and (b) to the extent of recovery under any other casualty or property damage insurance being carried by the releasing Party at the time of such accident or occurrence or casualty, which accident of occurrence or casualty may have resulted in whole or in part from the act of neglect of the Released Party, its officers, agents or employees, provided, however, the release hereinabove set forth shall become inoperative and null and void if the Releasing Party contracts for the insurance required to be carried under the terms of this Lease with an insurance company which: (1) Takes the position that the existence of such release vitiates or would adversely affect any policy so insuring the Releasing Party in a substantial manner and notice thereof is given to the Released Party, or (2) Requires the payment of a higher premium by reason of the existence of such release, unless in the latter case the Released Party within ten(10) days after notice thereof from the Releasing Party pays such increase in premium. Page 7 DRAFT-- 12/15/98--CHS Lease agreement