Common use of Duty to Insure Clause in Contracts

Duty to Insure. a. During the term of this Lease and any extension thereof, Lessee shall provide coverage for liability of Lessee and its "public employees," as defined in the Tort Claims Act, and for its personal property and tenant's improvements and betterments, as required by New Mexico law. b. At all times during the term of this Lease and any extension thereof, Lessor shall maintain in force a policy or policies of insurance providing: i. comprehensive general liability coverage of not less than $1,000,000 limit per occurrence, including coverage for property damage, bodily injury and wrongful death. Such insurance policy or policies shall name the "State of New Mexico, its branches, agencies, instrumentalities and public employees" as additional insured on the endorsements; and ii. an extended coverage endorsement or “All Risk” policy insuring for fire, lightning, vandalism, malicious mischief, loss of rents and other normal extended coverage for at least 80% of the replacement value of the Leased Premises, . x. Xxxxxx releases and discharges the Lessee and its "public employees" as defined in the Tort Claims Act from any and all claims, damages and causes of action arising out of any damage to or destruction of the Leased Premises where such damage or destruction was not caused by the willful act of Lessee or any of its "public employees." x. Xxxxxx shall provide certificates of coverage or proof of self-insurance evidencing compliance with this section which shall be attached to this Lease and all amendments at the time of execution. Lessor shall notify Lessee within ten days after cancellation or expiration of any required coverage.

Duty to Insure. a. During the term of this Lease lease and any extension thereof, Lessee shall provide coverage for liability of Lessee and its "public employees," as defined in the Tort Claims Act, and for its personal property and tenant's improvements and betterments, as required by New Mexico law. b. At all times during the term of this Lease lease and any extension thereof, Lessor shall maintain in force a policy or policies of insurance providing: i. 1. comprehensive general liability coverage of not less than $1,000,000 limit per occurrence, including coverage for property damage, bodily injury and wrongful death. Such insurance policy or policies shall name the "State of New Mexico, its branches, agencies, instrumentalities and public employees" as additional insured on the endorsements; , and ii2. an extended coverage endorsement or “All Risk” policy insuring for fire, lightning, vandalism, malicious mischief, loss of rents and other normal extended coverage for at least 80% of the replacement value of the Leased Premises, .premises, x. Xxxxxx releases and discharges the Lessee and its "public employees" as defined in the Tort Claims Act from any and all claims, damages and causes of action arising out of any damage to or destruction of the Leased Premises leased premises where such damage or destruction was not caused by the willful act of Lessee or any of its "public employees." x. Xxxxxx shall provide certificates of coverage or proof of self-insurance evidencing compliance with this section which shall be attached to this Lease and all amendments lease at the time of execution. Lessor shall notify Lessee within ten days after cancellation or expiration of any required coverage.