Direct Property Damage. All-risk physical damage insurance, including debris removal, covering the Premises, equipment, Tenant’s trade fixtures, merchandise and personal property from time to time in, on or about the Premises, all improvements, and any heating and cooling facilities serving the Premises which may be located outside the Premises. Such insurance (i) shall be written on a replacement cost basis in an amount equal to at least ninety percent (90%) of the replacement cost of the insured property; and (ii) shall provide protection against perils that are covered under standard insurance industry practices and, if obtainable at commercially reasonable rates and with commercially reasonable deductibles and other terms, earthquake and other natural disaster insurance coverage. Tenant’s obligations to provide insurance pursuant to this Section applies to all improvements, equipment and fixtures, notwithstanding that some or all of such improvements, equipment and fixtures may have been installed by Tenant, District, a prior tenant or any other party at any time before or after the delivery of the Premises to Tenant.
