Builder's Risk Coverage. With respect to the construction of any improvements or alterations to the Premises, Tenant shall procure and maintain insurance for course of construction insurance or builder’s risk insurance, covering all construction and operations at the Premises. Such insurance shall be written on specified location all risk form or a blanket all risk form and cover the full replacement cost of all improvements as well as incidental damages, including rental obligations, rental interruption or rental loss (as applicable). Such insurance shall also provide coverage for any upgrades or changes in building codes or other such Laws in the event of loss to the improvements. Tenant shall have the option but not the obligation to purchase flood and earthquake insurance. Such policy or policies required herein by Tenant shall be endorsed to add the Landlord (i.e. The State of California, its officers, agents and employees and any mortgagee or other persons or entities reasonably designated by Landlord) as an additional insured.
Appears in 4 contracts
Samples: Lease Agreement, Direct Lease Agreement, Lease Agreement
