Accidents and Claims. With respect to Properties for which Manager is property manager, and with respect to Properties for which Manager is construction manager, Manager shall promptly investigate and shall report in detail to Owner and insurance carriers as applicable all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.4.P(1). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.
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Samples: Master Property Management, Leasing and Construction Management Agreement (Griffin Capital Essential Asset REIT, Inc.), Master Property Management, Leasing and Construction Management Agreement (Griffin Capital Essential Asset REIT II, Inc.), Master Property Management, Leasing and Construction Management Agreement (Gc Net Lease Reit, Inc.)
Accidents and Claims. With respect to Properties for which Manager is property manager, and with respect to Properties for which Manager manager is construction manager, Manager shall promptly investigate and shall report in detail to Owner and insurance carriers as applicable all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.4.P(1). Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.
Appears in 4 contracts
Samples: Master Property Management, Leasing and Construction Management Agreement (Wells Real Estate Investment Trust Ii Inc), Master Property Management, Leasing and Construction Management Agreement (Wells Real Estate Investment Trust Inc), Master Property Management, Leasing and Construction Management Agreement (Wells Real Estate Investment Trust Ii Inc)
Accidents and Claims. With respect to Properties for which Manager is property manager, and with respect to Properties for which Manager manager is construction manager, Manager shall promptly investigate and shall report in detail to Owner and insurance carriers as applicable all accidents, claims for damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by Owner all reports required by an insurance company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to Owner promptly and any report not so given within 10 days after the occurrence of any such accident, claim, damage or destruction shall be noted in the monthly report delivered to Owner pursuant to Section 2.4.P(1). Upon written direction from Owner, Manager is authorized to shall settle any claim against an insurance company arising out of any policy and, in connection with such claim, to shall execute proofs of loss and adjustments of loss and to collect and receipt for loss proceeds.
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