Agmt05 Watson, et al vs RWC - Laserfiche WebLink

Browse Search

Page 3 Lease Agreem en t 10. INDEMNIFICATION OF LESSOR: Lessor shall not be liable for any damage or injury to Lessee, or any other person, or to any property, occurring on the demised premises or any part thereof, and Lessee agrees to hold Lessor harmless from any claims for damages, no matter bow caused. 11. INSURANCE: Lessee, at his expense, shall maintain plate glass and public liability : insurance including bodily injury and property damage in the rr:ùnirnum amount of $10000.00 (One Million Dollars) insuring Lessee and direc;ing Lessee's insurance Company to desi~te Lessor as an additional insured under the policy. Lessee shall provide Lessor with a Cerlificaie of Insurance showing Lessor as additional insured. The Certificate shall provide for a ten-day written notice from Lessee's Insurance company to Lessor in the event of cancellation of the Policy or failure to pay premiums or otherwise or material change of coverage.' To the maximum extent permitted by insurance policies, which may be owned by Lessor or Lessee, Lessee and Lessor, for the benefit of each other, waive any and all rights of subrogation which might other:wise exist. . 12. EMINENT DOMAIN: Ifthe premises or any part thereof or any estate therein, or any other part of the building materially affecting Lessee's use of the prenllses, shall be taken by eminent domain, this lease shall terminate on the date when title vests pursuant to such taking. The rent, and any additional rent, shall be apportioned as of the termination date, and any rent paid for any period beyond that date shall be repaid to Lessee. Lessee shall not be entitled to any part ofthe award for such taking or any payment in lieu thereof, but Lessee may file a claim for any taking offixtures and improvements owned by Lessee and for moving expenses. '. 13, DESTRUCTION OF PREMISES: In the event ofa partial destruction ofthe . premises during the term hereof, from any cause, Lessor shall forthwith repair the same, provided that such repairs can be made within sixty (60) days under existing govemmentallaws and regulations, but such partial destruction shall not tenninate this lease, except that lessee shall be entitled to a proportionate reduction of rent while such repairs are being made, based upon the extent to which the making of such repaifs shall interfere with the business of Lessee on the Premises. If such repairs cannot be made witilln said sixty (60) days, Lessor at his option, may make the same within a reasonable time, this lease coptinuing in effect with the rent proportionately abated as aforesaid, and in the event that Lessor shall not elect to make such repairs which cannot be made within sixty (60) days, this ).,ease may be terminated at the option of either party. In the event that the building in which the demised premises may be situated is destroyed to an extent of not less than one-third ofthe replacement costs thereof, Lessor may elect to tenninate this lease whether the demised premises he injured or nòl. A total destruction of the ¡) building in which the premises may be situated shan tenninatc this lease. ~ ~ d iiJ.. T"""'-~T"