Common use of Assumption of All Risk of Loss Clause in Contracts

Assumption of All Risk of Loss. Resident assumes all risks associated with the loss, damage, or destruction of all vehicles and other personal property or items kept in the Parking Space, regardless of the value of the lost or destroyed property. Resident agrees to hold Landlord harmless for any loss, damage, or destruction to Resident’s personal property in the Parking Space. Resident is advised to carry insurance to cover Resident’s vehicle(s) and other personal property. Landlord’s insurance does not insure Resident’s vehicle(s) or other personal property. Resident understands that vehicles and other items left in the Parking Space may be stolen or damaged. Resident should not store valuable items in the vehicle or Parking Space. No bailment relationship is created by Resident’s use of the Parking Space.

Assumption of All Risk of Loss. Resident assumes all risks associated with the loss, damage, or destruction of all vehicles and other personal property or items kept in the Parking Space/Garage, regardless of the value of the lost or destroyed property. Resident agrees to hold Landlord harmless for any loss, damage, or destruction to Resident’s personal property in the Parking Space/Garage. Resident is advised to carry insurance to cover Resident’s vehicle(s) and other personal property. Landlord’s insurance does not insure Resident’s vehicle(s) or other personal property. Resident understands that vehicles and other items left in the Parking Space Space/Garage may be stolen or damaged. Resident should not store valuable items in the vehicle or Parking Space/Garage. No bailment relationship is created by Resident’s use of the Parking Space/Garage.