City’s Property Insurance Coverage and Limits. City will maintain at its expense Property Insurance or self-insurance under which the Premises, excluding Concessionaire’s Business Personal Property and tenant improvements, are insured throughout the Term in an amount not less than the replacement cost new thereof, against the following hazards: (i) loss from the perils of fire and other risks of direct physical loss, not less broad than provided by the insurance industry standard “Causes of Loss - Special Form” (ISO form CP 1030 or equivalent); (ii) loss or damage from water leakage or sprinkler systems now or hereafter installed in or on the Premises; (iii) loss or damage by explosion of steam boilers, pressure vessels, or above-ground oil or gasoline storage tanks or similar apparatus now or hereafter installed on the Premises. Concessionaire shall be responsible to pay the deductible to the proportional extent to which the loss or damage is attributable to Concessionaire’s negligent acts.
City’s Property Insurance Coverage and Limits. A. City will maintain at its expense Property Insurance or self-insurance under which the Premises, excluding Concessionaire’s Business Personal Property and Tenant Improvements, are insured throughout the Term in an amount not less than the replacement cost new thereof, against the following hazards: (i) loss from the perils of fire and other risks of direct physical loss (including earthquake), not less broad than provided by the insurance industry standard “Causes of Loss - Special Form (ISO form CP 1030 or equivalent); (ii) loss or damage from water leakage or sprinkler systems now or hereafter installed in or on the Premises; (iii) loss or damage by explosion of steam boilers, pressure vessels, or above-ground oil or gasoline storage tanks or similar apparatus now or hereafter installed on the Premises. City’s Property Insurance currently is subject to a $250,000 deductible for most claims for which Concessionaire shall be responsible only to the proportional extent to which the loss or damage is attributable to Concessionaire’s negligent acts that are, or should be, covered by Concessionaire’s Fire/Concessionaire Legal Liability insurance.
City’s Property Insurance Coverage and Limits. City will maintain at its expense Property Insurance or self-insurance under which the Premises, excluding Lessee’s Business Personal Property and tenant improvements, are insured throughout the Lease Term in an amount not less than the replacement cost new thereof, against the following hazards: (i) loss from the perils of fire and other risks of direct physical loss (including earthquake), not less broad than provided by the insurance industry standard “Causes of Loss - Special Form (ISO form CP 1030 or equivalent); (ii) loss or damage from water leakage or sprinkler systems now or hereafter installed in or on the Premises; (iii) loss or damage by explosion of steam boilers, pressure vessels, or above-ground oil or gasoline storage tanks or similar apparatus now or hereafter installed on the Premises. City’s Property Insurance currently is subject to a $250,000 deductible for most claims. Lessee shall be responsible to pay the deductible to the proportional extent to which the loss or damage is attributable to Lessee’s negligent acts. The City may change the terms of its insurance in Sections 15.2 at any time based on market conditions, with no compensation due to the Lessee.
