|
(b) Tenant's Property. Tenant shall obtain and continuously maintain in full force
<br />and effect during the Term, at its sole cost and expense, a special perils extended coverage form
<br />("all risk") policy of insurance on all of Tenant's personal property, equipment, furniture,
<br />records, inventory, racking, fixtures, machinery, vehicles, tenant improvements and alterations.
<br />6.2 Liability Insurance.
<br />(a) Tenant. During the Term, Tenant shall also obtain and continuously maintain in
<br />full force and effect, at its sole cost and expense, commercial general liability insurance naming
<br />Landlord and Mortgagee as additional insureds against any and all claims as are customarily
<br />covered under a standard policy form (which must provide for claims to be made on an
<br />occurrence basis) routinely accepted, for bodily injury, death and property damage occurring in,
<br />or about the Premises and adjoining sidewalks arising out of the possession, leasing, condition,
<br />use and occupancy of the Premises. Such insurance shall have a combined single limit of not
<br />less than $1,000,000 per occurrence with $2,000,000 aggregate limit and excess umbrella
<br />liability insurance in the amount of at least $5,000,000, or in such greater amounts as may be
<br />required by any Mortgagee. Such liability insurance shall be primary and not contributing to any
<br />insurance available to Landlord and Landlord's insurance, if any, including that obtain pursuant
<br />to Section 6.2(b), shall be in excess thereto. In no event shall the limits of such insurance be
<br />considered as limiting the liability of Tenant under this Lease. The deductible for coverage
<br />under this Section shall not exceed $10,000.
<br />(b) Landlord. During the Term, Landlord may, at its option, also obtain and maintain
<br />in full force and effect, commercial general liability insurance naming Landlord as insured and
<br />Tenant as additional insured with respect to the Premises, with such limits and coverage as
<br />Landlord reasonably deems appropriate.
<br />6.3 Workers Compensation Insurance. During the Term, Tenant shall obtain and
<br />maintain in full force and effect, at Tenant's sole expense, workers compensation insurance in
<br />accordance with statutory law and employer's liability insurance with a limit of not less than
<br />$100,000 per employee and $500,000 per occurrence.
<br />6.4 Builder's Risk Insurance. During any period of construction on the Premises,
<br />Tenant shall maintain, at Tenant's sole expense, builder's risk insurance insuring perils covered
<br />by the causes of loss -special extended coverage form ("all risk"), non -reporting form. The
<br />Builder's Risk insurance shall be purchased for the value of the alterations and/or additions made
<br />to the Premises when the work is not insured under Tenant's property insurance policy, together
<br />with general liability and worker's compensation insurance covering all persons engaged in such
<br />construction in amounts reasonably required by Landlord and Mortgagee.
<br />6.5 Business Interruption Insurance. During the Term, Tenant shall also obtain and
<br />continuously maintain in full force and effect, at its sole cost and expense, a policy of insurance
<br />against loss or damage to business interruption specifically covering Tenant's obligation to pay
<br />all Rent under this Lease for a period of not less than six (6) months, and containing such other
<br />terms and provisions as may be required by a Mortgagee.
<br />
|