Common use of Fire and Extended Coverage Clause in Contracts

Fire and Extended Coverage. Landlord shall, at Landlord’s expense, procure and maintain at all times during the term of this Lease, a policy or policies of insurance covering loss or damage to the Leased Premises in the amount of the full replacement value thereof (exclusive of Tenant’s trade fixtures, personal property and equipment), providing protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, sprinkler leakage and special extended peril (all-risk), and such other risks as Landlord may determine should be insured against. During the term of this Lease, Tenant shall pay the amount of any increase in premium for the insurance required under this Section over and above the premium paid by Landlord during the first full year of the term of the Lease in which Landlord shall have maintained such insurance, irrespective of whether such increase results from acts or omissions of Tenant, Landlord, or from any other source including without limitation a lender’s requirements or the increased valuation of the Project. Tenant shall pay such premium increases to Landlord within five (5) days after receipt by Tenant of a statement of the amount due, which shall include the method of calculation of Tenant’s share thereof if the insurance covers other improvements than the Leased Premises. If the term of this Lease does not expire concurrently with the expiration of the period covered by the insurance, Tenant’s liability for premium increases shall be prorated on an annual basis. Tenant shall not do or permit anything to be done in or about the Leased Premises which will increase the existing rate of insurance upon the Leased Premises or the Project or cause the cancellation of any insurance policy covering said Leased Premises or the Project, nor shall Tenant sell or permit to be kept, used, or sold in or about said Leased Premises any articles which may be prohibited by Landlord’s policy of fire insurance. If Tenant’s conduct or use of the Leased Premises causes any increase in the premium for such insurance policies, then Tenant shall pay as additional rent hereunder, on demand from Landlord, all of such increase. Tenant shall, at Tenant’s expense, comply with all insurance company requirements pertaining to the use of the Leased Premises so that the Leased Premises shall at all times be insurable for fire, extended coverage and the risks specified above.

Fire and Extended Coverage. Landlord shall, at Landlord’s 's expense, procure and maintain at all times during the term Term of this Lease, a policy or policies of insurance covering loss or damage to the Leased Premises in the amount of the full replacement value thereof (exclusive of Tenant’s trade fixtures, personal property and equipment), providing protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, sprinkler leakage and special extended peril (all-risk), and such other risks as Landlord may determine should be insured against. During This policy shall be in such amount as Landlord shall determine in its sole and absolute discretion and Tenant shall not be required to maintain a policy in the term amount of this Lease, the full replacement value of the Premises. Tenant shall pay the amount of any increase in premium for the insurance required under this Section over and above allocable to the premium paid by Landlord during the first full year Term of the term of the Lease in which Landlord shall have maintained such insurance, irrespective of whether such increase results from acts or omissions of Tenant, Landlord, or from any other source including without limitation a lender’s requirements or the increased valuation of the Projectthis Lease. Tenant shall pay such premium increases to Landlord within five ten (510) days after receipt by Tenant of a statement of the amount due, which shall include the method of calculation of Tenant’s 's share thereof if the insurance covers other improvements than the Leased Premises. If the term Term of this Lease does not expire concurrently with the expiration of the period covered by the insurance, Tenant’s 's liability for premium increases shall be prorated on an annual a monthly basis. Tenant shall not do or permit anything to be done in or about the Leased Premises which will increase the existing rate of insurance upon the Leased Premises or the Project or cause the cancellation of any insurance policy covering said Leased Premises or the Project, nor shall Tenant sell or permit to be kept, used, or sold in or about said Leased Premises any articles substances which may be prohibited by Landlord’s 's policy of fire insurance. If Tenant’s conduct or use of the Leased Premises causes any increase in the premium for such insurance policies, then Tenant shall pay as additional rent hereunder, on demand from Landlord, all of such increase. Tenant shall, at Tenant’s 's expense, comply with all insurance company requirements pertaining to the use of the Leased Premises so that the Leased Premises shall at all times be insurable for fire, extended coverage and the risks specified above.

Fire and Extended Coverage. Landlord Developer shall, at no cost -------------------------- or expense to Landlord’s expense, procure keep insured for the benefit of Developer and maintain at all times during Landlord, and such other parties, having an insurable interest, as Developer may designate, the term of this Lease, a policy improvements constructed by or policies of insurance covering under Developer upon the Premises against loss or damage by fire and lightning and risks customarily covered by extended coverage endorsement, in amounts not less than one hundred percent (100%) of the actual replacement cost of said improvements, except that Developer, at Developer's option may exclude the cost of excavations, foundations and footings. Landlord shall be named as an insured under any such policy. Such fire and extended coverage's shall also be required to be furnished by Developer during the construction of improvements on the Premises as contemplated by Section 7 below. Any loss payable under such insurance shall be payable to Developer, Landlord and such other parties having an insurable interest in the property as Developer may designate and may be endorsed with a standard mortgagee's loss payable endorsement in favor of the holder of any Leasehold Mortgagee holding a Leasehold Mortgage. Landlord will release the entire sum of the proceeds to Developer or to a lender for purposes of reconstruction, replacement or repair of any damaged improvement. The proceeds of such insurance shall be paid to Developer to the Leased Premises in extent the amount of the full replacement value thereof (exclusive of Tenant’s trade recovery is for damages to interior, non-structural or subtenant improvements, equipment, fixtures, personal property and equipment)or for rental value insurance to the extent such recoveries are separate identifiable items. If Developer shall within five (5) years after such damage or destruction commence construction of the damaged or destroyed building, providing protection against all perils included within or a new building in accordance with Section 7 hereof, the classification of fire, extended coverage, vandalism, malicious mischief, sprinkler leakage and special extended peril (all-risk), and such other risks as Landlord may determine should be insured against. During the term of this Lease, Tenant shall pay the amount proceeds of any increase in premium for insurance payable by reason of such damage or destruction shall be paid to Developer. If Developer shall fail to commence such construction within such five (5) year period Landlord reserves the right to receive such portion of the insurance required under this Section over and above proceeds so that Landlord may, if appropriate, carry out such reconstruction of the premium paid by Landlord destroyed building, with all excess amounts to Developer. If at any time during the first full year last five (5) years of the term of the Lease in whether the original term or any extension thereof, a building then on the Premises shall be so damaged by fire or other casualty that the cost of restoration shall exceed fifty percent (50%) of the replacement value thereof, exclusive of foundations, immediately prior to such damage, either party hereto may, within sixty (60) days of such damage, give notice of its election to terminate this Lease with respect to the parcel upon which Landlord the building is located and, subject to further provisions of this subsection this Lease shall cease and come to an end on the date of the expiration of ten (10) days from the delivery of such notice with the same force and effect as if such date were the date herein fixed for the expiration of the term hereof, and the Ground Rent shall be apportioned and paid to the date of such termination. In such event Developer shall remove all debris and level the land, and Developer shall have maintained such insurance, irrespective of whether such increase results from acts no obligation to repair or omissions of Tenant, Landlord, rebuild or from any other source including without limitation a lender’s requirements or the increased valuation of the Projectrestore. Tenant The insurance proceeds shall pay such premium increases to Landlord within then be divided as follows: If five (5) days after receipt by Tenant of a statement years remain before the end of the amount dueLease or any extension thereof, which Developer shall include the method of calculation of Tenant’s share thereof if the insurance covers other improvements than the Leased Premises. If the term of this Lease does not expire concurrently with the expiration receive seventy-five percent (75%) of the period covered by proceeds, and Landlord shall receive twenty-five percent (25%); if four (4) years remain before the insurance, Tenant’s liability for premium increases shall be prorated on an annual basis. Tenant shall not do or permit anything to be done in or about the Leased Premises which will increase the existing rate of insurance upon the Leased Premises or the Project or cause the cancellation of any insurance policy covering said Leased Premises or the Project, nor shall Tenant sell or permit to be kept, used, or sold in or about said Leased Premises any articles which may be prohibited by Landlord’s policy of fire insurance. If Tenant’s conduct or use end of the Leased Premises causes any increase in the premium for such insurance policiesLease, then Tenant Developer shall pay as additional rent hereunder, on demand from Landlord, all of such increase. Tenant shall, at Tenant’s expense, comply with all insurance company requirements pertaining to the use receive fifty percent (50%) of the Leased Premises so that proceeds, and Landlord shall receive fifty percent (50%); if three (3) years remain before the Leased Premises end of the Lease, Developer shall at all times be insurable for firereceive twenty-five percent (25%) of the proceeds, extended coverage and Landlord shall receive seventy-five percent (75%); if two (2) years remain before the risks specified aboveend of the Lease, Developer shall receive ten percent (10%) of the proceeds, and Landlord shall receive ninety percent (90%); if one (1) year remains before the end of the Lease, Landlord shall receive the entire proceeds.

Fire and Extended Coverage. Landlord Developer shall, at no -------------------------- cost or expense to Landlord’s expense, procure keep insured for the benefit of Developer and maintain at all times during Landlord, and such other parties, having an insurable interest, as Developer may designate, the term of this Lease, a policy improvements constructed by or policies of insurance covering under Developer upon the Premises against loss or damage by fire and lightning and risks customarily covered by extended coverage endorsement, in amounts not less than one hundred percent (100%) of the actual replacement cost of said improvements, except that Developer, at Developer's option may exclude the cost of excavations, foundations and footings. Landlord shall be named as an insured under any such policy. Such fire and extended coverages shall also be required to be furnished by Developer during the construction of improvements on the Premises as contemplated by Section 7 below. Any loss payable under such insurance shall be payable to Developer, Landlord and such other parties having an insurable interest in the property as Developer may designate and may be endorsed with a standard mortgagee's loss payable endorsement in favor of the holder of any Leasehold Mortgagee holding a Leasehold Mortgage. Landlord will release the entire sum of the proceeds to Developer or to a lender for purposes of reconstruction, replacement or repair of any damaged improvement. The proceeds of such insurance shall be paid to Developer to the Leased Premises in extent the amount of the full replacement value thereof (exclusive of Tenant’s trade recovery is for damages to interior, non- structural or subtenant improvements, equipment, fixtures, personal property and equipment)or for rental value insurance to the extent such recoveries are separate identifiable items. If Developer shall within five (5) years after such damage or destruction commence construction of the damaged or destroyed building, providing protection against all perils included within or a new building in accordance with Section 7 hereof, the classification of fire, extended coverage, vandalism, malicious mischief, sprinkler leakage and special extended peril (all-risk), and such other risks as Landlord may determine should be insured against. During the term of this Lease, Tenant shall pay the amount proceeds of any increase in premium for insurance payable by reason of such damage or destruction shall be paid to Developer. If Developer shall fail to commence such construction within such five (5) year period Landlord reserves the right to receive such portion of the insurance required under this Section over and above proceeds so that Landlord may, if appropriate, carry out such reconstruction of the premium paid by Landlord destroyed building; with all excess amounts to Developer. If at any time during the first full year last five (5) years of the term of the Lease in whether the original term or any extension thereof, a building then on the Premises shall be so damaged by fire or other casualty that the cost of restoration shall exceed fifty percent (50%) of the replacement value thereof, exclusive of foundations, immediately prior to such damage, either party hereto may, within sixty (60) days of such damage, give notice of its election to terminate this Lease with respect to the parcel upon which Landlord the building is located and, subject to further provisions of this subsection this Lease shall cease and come to an end on the date of the expiration of ten (10) days from the delivery of such notice with the same force and effect as if such date were the date herein fixed for the expiration of the term hereof, and the Ground Rent shall be apportioned and paid to the date of such termination. In such event Developer shall remove all debris and level the land, and Developer shall have maintained such insurance, irrespective of whether such increase results from acts no obligation to repair or omissions of Tenant, Landlord, rebuild or from any other source including without limitation a lender’s requirements or the increased valuation of the Projectrestore. Tenant The insurance proceeds shall pay such premium increases to Landlord within then be divided as follows: If five (5) days after receipt by Tenant of a statement years remain before the end of the amount dueLease or any extension thereof, which Developer shall include the method of calculation of Tenant’s share thereof if the insurance covers other improvements than the Leased Premises. If the term of this Lease does not expire concurrently with the expiration receive seventy-five percent (75%) of the period covered by proceeds, and Landlord shall receive twenty-five percent (25%); if four (4) years remain before the insurance, Tenant’s liability for premium increases shall be prorated on an annual basis. Tenant shall not do or permit anything to be done in or about the Leased Premises which will increase the existing rate of insurance upon the Leased Premises or the Project or cause the cancellation of any insurance policy covering said Leased Premises or the Project, nor shall Tenant sell or permit to be kept, used, or sold in or about said Leased Premises any articles which may be prohibited by Landlord’s policy of fire insurance. If Tenant’s conduct or use end of the Leased Premises causes any increase in the premium for such insurance policiesLease, then Tenant Developer shall pay as additional rent hereunder, on demand from Landlord, all of such increase. Tenant shall, at Tenant’s expense, comply with all insurance company requirements pertaining to the use receive fifty percent (50%) of the Leased Premises so that proceeds, and Landlord shall receive fifty percent (50%); if three (3) years remain before the Leased Premises end of the Lease, Developer shall at all times be insurable for firereceive twenty-five percent (25%) of the proceeds, extended coverage and Landlord shall receive seventy-five percent (75%); if two (2) years remain before the risks specified aboveend of the Lease, Developer shall receive ten percent (10%) of the proceeds, and Landlord shall receive ninety percent (90%); if one (1) year remains before the end of the Lease, Landlord shall receive the entire proceeds.

Fire and Extended Coverage. Landlord Developer shall, at no -------------------------- cost or expense to Landlord’s expense, procure keep insured for the benefit of Developer and maintain at all times during Landlord, and such other parties, having an insurable interest, as Developer may designate, the term of this Lease, a policy improvements constructed by or policies of insurance covering under Developer upon the Premises against loss or damage by fire and lightning and risks customarily covered by extended coverage endorsement, in amounts not less than one hundred percent (100%) of the actual replacement cost of said improvements, except that Developer, at Developer's option may exclude the cost of excavations, foundations and footings. Landlord shall be named as an insured under any such policy. Such fire and extended coverages shall also be required to be furnished by Developer during the construction of improvements on the Premises as contemplated by Section 7 below. Any loss payable under such insurance shall be payable to Developer, Landlord and such other parties having an insurable interest in the property as Developer may designate and may be endorsed with a standard mortgagee's loss payable endorsement in favor of the holder of any Leasehold Mortgagee holding a Leasehold Mortgage. Landlord will release the entire sum of the proceeds to Developer or to a lender for purposes of reconstruction, replacement or repair of any damaged improvement. The proceeds of such insurance shall be paid to Developer to the Leased Premises in extent the amount of the full replacement value thereof (exclusive of Tenant’s trade recovery is for damages to interior, non-structural or subtenant improvements, equipment, fixtures, personal property and equipment)or for rental value insurance to the extent such recoveries are separate identifiable items. If Developer shall within five (5) years after such damage or destruction commence construction of the damaged or destroyed building, providing protection against all perils included within or a new building in accordance with Section 7 hereof, the classification of fire, extended coverage, vandalism, malicious mischief, sprinkler leakage and special extended peril (all-risk), and such other risks as Landlord may determine should be insured against. During the term of this Lease, Tenant shall pay the amount proceeds of any increase in premium for insurance payable by reason of such damage or destruction shall be paid to Developer. If Developer shall fail to commence such construction within such five (5) year period Landlord reserves the right to receive such portion of the insurance required under this Section over and above proceeds so that Landlord may, if appropriate, carry out such reconstruction of the premium paid by Landlord destroyed building, with all excess amounts to Developer. If at any time during the first full year last five (5) years of the term of the Lease in whether the original term or any extension thereof, a building then on the Premises shall be so damaged by fire or other casualty that the cost of restoration shall exceed fifty percent (50%) of the replacement value thereof, exclusive of foundations, immediately prior to such damage, either party hereto may, within sixty (60) days of such damage, give notice of its election to terminate this Lease with respect to the parcel upon which Landlord the building is located and, subject to further provisions of this subsection this Lease shall cease and come to an end on the date of the expiration of ten (10) days from the delivery of such notice with the same force and effect as if such date were the date herein fixed for the expiration of the term hereof, and the Ground Rent shall be apportioned and paid to the date of such termination. In such event Developer shall remove all debris and level the land, and Developer shall have maintained such insurance, irrespective of whether such increase results from acts no obligation to repair or omissions of Tenant, Landlord, rebuild or from any other source including without limitation a lender’s requirements or the increased valuation of the Projectrestore. Tenant The insurance proceeds shall pay such premium increases to Landlord within then be divided as follows: If five (5) days after receipt by Tenant of a statement years remain before the end of the amount dueLease or any extension thereof, which Developer shall include the method of calculation of Tenant’s share thereof if the insurance covers other improvements than the Leased Premises. If the term of this Lease does not expire concurrently with the expiration receive seventy-five percent (75%) of the period covered by proceeds, and Landlord shall receive twenty-five percent (25%); if four (4) years remain before the insurance, Tenant’s liability for premium increases shall be prorated on an annual basis. Tenant shall not do or permit anything to be done in or about the Leased Premises which will increase the existing rate of insurance upon the Leased Premises or the Project or cause the cancellation of any insurance policy covering said Leased Premises or the Project, nor shall Tenant sell or permit to be kept, used, or sold in or about said Leased Premises any articles which may be prohibited by Landlord’s policy of fire insurance. If Tenant’s conduct or use end of the Leased Premises causes any increase in the premium for such insurance policiesLease, then Tenant Developer shall pay as additional rent hereunder, on demand from Landlord, all of such increase. Tenant shall, at Tenant’s expense, comply with all insurance company requirements pertaining to the use receive fifty percent (50%) of the Leased Premises so that proceeds, and Landlord shall receive fifty percent (50%); if three (3) years remain before the Leased Premises end of the Lease, Developer shall at all times be insurable for firereceive twenty-five percent (25%) of the proceeds, extended coverage and Landlord shall receive seventy-five percent (75%); if two (2) years remain before the risks specified aboveend of the Lease, Developer shall receive ten percent (10%) of the proceeds, and Landlord shall receive ninety percent (90%); if one (1) year remains before the end of the Lease, Landlord shall receive the entire proceeds.