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5/19/1982
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5/19/1982
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Last modified
7/23/2015 11:49:38 AM
Creation date
6/11/2015 2:26:07 PM
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
05/19/1982
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MAY'l 9 1982 c802 <br />coverage and shall furnish the Landlord a certificate of said <br />coverage: <br />The tenants shall carry a Comprehensive General Liability <br />insurance with a combined single limit of $1,000,000 per occurrence and <br />an All Risk Property insurance covering the building at replacement <br />cost with no coinsurance penalty and with an Agreed Amount Endorsement <br />to the policy. <br />The Landlord shall be named an additional insured on their <br />insurance. <br />11. DAMAGE OR DESTRUCTION OF LEASED PREMISES: If the premises <br />is damaged or destroyed by any cause which is covered by said <br />insurance, the proceeds of said coverage shall be used to repair or <br />restore the building for use under the terms of this agreement, unless <br />otherwise agreed to by the parties. <br />If the insurance proceeds are insufficient to completely <br />restore the premises, (of if substantial damage is caused by an event <br />not covered under the insurance policy), the Landlord shall have the <br />right to elect to terminate the Lease or repair and/or rebuild the <br />premises at the Landlord's sole expense. <br />If the Landlord elects to terminate the Lease, this Lease <br />shall be deemed to have been terminated on the date of damage or <br />destruction. Thereafter, neither party shall have any obligation under <br />this Lease and the same shall become null and void. <br />12. RIGHT TO INSPECT: The Landlord may enter and inspect the <br />leased premises at all reasonable hours to insure the premises is being <br />properly maintained and kept in good condition. , <br />13. ASSIGNMENT OR SUBLEASE: Tenant shall not assign, sublease <br />or transfer any part of this Lease without prior written consent of the <br />Landlord withheld for any reason. <br />14. BREACH OF COVENANTS: In the event the Landlord believes <br />the Tenant is in violation of any of the terms contained in this Lease, <br />the Landlord agrees to notify Tenant, in writing, of said breach and <br />grant Tenant thirty (30) days in which to remedy the violation. <br />
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