CCP 08-13-2013 - Laserfiche WebLink

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(d) if Lessee operates owned, hired or non-owned vehicles on or about the Property, commercial automobile liability insurance with a limit of$500,000 combined bodily injury and property damage; Each such policy shall list Lessor as an additional insured. Lessee shall provide at least 30 days prior notice of any cancellation or non-renewal of any required coverage that is not replaced. Lessee shall, within thirty (30) days following Lessee's occupancy and annually thereafter within twenty (20) days following renewal of each such policy, furnish to Lessor certificates of insurance listing Lessor as an additional insured. 3.02 Lessor's Insurance. At all times during the term of this Agreement, Lessor will carry and maintain fire and extended coverage insurance covering the Tower, its equipment and common area furnishings in amounts not less than their full replacement cost. Lessor shall also carry commercial general liability insurance in amounts reasonably determined by Lessor. 3.03 Waiver of Subrogation. Lessor and Lessee each waive any and all rights to recover against the other, or against the officers, directors, shareholders, partners, joint ventures, employees, agents, customers, invitees or business visitors of such other party, for any loss or damage to such waiving party arising from any cause covered by any property insurance required to be carried pursuant to this section or any other property insurance actually carried by such party. Lessor and Lessee, from time to time, will request their respective insurers to issue appropriate waiver of subrogation rights endorsements to all property insurance policies carried in connection with the Tower or the Premises or the contents of either. 3.04 Damage. If the Premises or a portion of the Tower necessary for Lessee's occupancy is damaged during the term of this Agreement by any casualty which is insured under standard fire and extended coverage insurance policies, Lessor will repair or rebuild the Premises to substantially the condition in which the Premises were immediately prior to such destruction. The Rent or Renewal Rent, as applicable, will be abated proportionately during any period in which there is substantial interference with the operation of Lessee's business. If the Premises are damaged to the extent that it would take, in Lessor's reasonable judgment, more than 30 days to repair, then either Lessor or Lessee may terminate this Agreement. 3.05 Indemnification. During the term of the Agreement, Lessor and the Lessee shall indemnify and hold the other harmless against any claim of liability or loss from personal injury or property which arise out of the breach of this Agreement or the use and/or occupancy of the Premises or the balance of the Lessor's Property, by the indemnifying party. Nothing herein shall be deemed a waiver by Lessor of the limitations on liability set forth in Minnesota Statutes, Chapter 466; and Lessor shall not be obligated to indemnify Lessee for any amounts in excess of the limitations on liability 8