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(1) $1,000,000 for injury or death of any one person; $3,000,000 <br />per occurrence. <br /> <br /> (2) Third party property damage in the amount of $1,000,000. <br /> <br /> A certificate or certificates evidencing issuance of the insurance policies <br />mentioned herein shall be deposited with the City Clerk at the commencement of the term <br />of this Lease and each such policy of insurance shall bear the following endorsements: <br /> <br /> (1) Endorsement precluding cancellation or reduction in coverage <br />before the expiration of thirty (30) days after notification thereof; <br /> <br /> (2) Standard cross liability provisions; and <br /> <br /> (3) Endorsement naming City of Redwood City, its Council, <br />Boards, Commissions, officers, agents and employees as additional insureds, solely as <br />respects the Leased Premises and its uses hereunder. <br /> <br /> b. Fire and Extended Coverage. Upon and after the commencement of <br /> <br />the term hereof, Lessee shall procure and maintain in full force and effect while this <br />Lease shall remain in effect, a policy or policies of standard fire and extended coverage <br />insurance on the improvements constructed and maintained by Lessee on the Leased <br />Premises. Said insurance shall be in an amount of at least ninety percent (90%) of the <br />full replacement value of the aforementioned improvements. Said policy or policies shall <br />be issued in the name of Lessee, Lessee's lender (if applicable) and Lessor, as their <br />interests appear. <br /> <br /> In the event the improvements above described are destroyed from a risk <br />covered by the aforesaid insurance, Lessee shall advise Lessor of any and all insurance <br />proceeds paid or to be made available to Lessee by reason thereof, and subject to the <br />rights of the Lender under paragraph 15, shall commit said proceeds to repair or <br />reconstruct the improvements so destroyed. <br /> <br /> 10. INDEMNIFICATION. Lessee shall and will defend, indemnify and save <br />harmless Lessor, its Council, Boards, Commissions, officers, agents and employees, from <br />and against any and all claims, demands, loss, judgments, or liabilities of any kind or <br />nature which Lessor, its officers, Boards, Commissions, agents and employees may <br /> <br />17996.00003'~BGLIB 1\1085097.9 9 <br /> <br /> <br />