Fire Insurance on Building Sample Clauses

Fire Insurance on Building. Landlord at its cost shall maintain on the building and other improvements that are part of the premises (in which the premises are located) a policy of standard fire insurance with special extended coverage endorsement, to the extent of at least 90% of full replacement value. The insurance policy shall be in the name of Landlord, with loss payable to Landlord and the holders of any mortgages or deeds of trust on the premises. Landlord shall not be required to insure any of Tenant's improvements or alterations.
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Fire Insurance on Building. City shall maintain insurance (or self-insurance through City’s joint pool coverage plan) covering the Building.
Sample 1
Fire Insurance on Building. Landlord shall maintain on the building and other improvements which are part of the Premises, a policy of fire and extended coverage insurance with vandalism and malicious mischief endorsements, inflation guard protection riders, change in building code endorsements, and such other endorsements as Landlord determines are reasonable and appropriate to fully insure the Premises for its full insurable replacement cost, as the same may exist from time to time, or such amount as required by Landlord’s lender. Notwithstanding Landlord’s insurance, Tenant shall separately insure Tenant’s own alterations, utility installations, trade fixtures, and Tenant’s personal property in accordance with Section 16.b. If such coverage is available and commercially reasonable, the policy or policies of fire insurance shall insure against all risks of direct physical loss or damage (except flood or earthquake unless required by Landlord’s lender), including coverage for debris removal and for compliance with all applicable, rules, regulations and ordinances pertaining to upgrading, demolition and reconstruction, or replacement of any portion of the Premises as a result of the covered loss. Said policies shall also contain an agreed valuation provision in lieu of any co-insurance costs. If such insurance coverage has a deductible clause, the deductible amount shall not exceed $5,000 per occurrence, and Tenant shall be liable for the deductible amount in the event of an insured loss. Tenant shall reimburse Landlord for the premiums paid by Landlord for maintaining the insurance required by this section. Reimbursement shall be made by Tenant within ten (10) days after Tenant receives a copy of the premium notice. Tenant’s obligation to pay insurance costs shall be prorated for any partial year at the commencement and expiration or termination of the term.
Sample 1
Fire Insurance on Building. Landlord shall maintain on the building and other improvements that are part of the project in which the premises are located, a policy of standard fire and extended coverage insurance, with vandalism and malicious mischief endorsements to the extent of one hundred percent (100%) of the full replacement value of said buildings and improvements or to the amount and extent of the lender's requirements whichever is greater.
Sample 1
Fire Insurance on Building. 1. Lessee at Lessee's cost shall maintain on the building and other improvements that are a part of the premises a policy of standard fire and extended coverage insurance, with vandalism and malicious mischief endorsements, to the extent of at least one hundred percent (100%) of their full replacement value.
Sample 1

Related to Fire Insurance on Building

  • FIRE INSURANCE The LESSEE shall not permit any use of the leased premises which will make voidable any insurance on the property of which the leased premises are a part, or on the contents of said property or which shall be contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. The LESSEE shall on demand reimburse the LESSOR, and all other tenants, all extra insurance premiums caused by the LESSEE's use of the premises.

  • Fire and Casualty Insurance Developer shall obtain and keep in full force adequate fire and casualty insurance with coverage in an amount equal to the assessed value of such improvements. In the event of loss the Developer shall use the proceeds of such insurance to promptly reconstruct the damaged or lost improvements.

  • Maintenance of Property; Insurance (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.

  • Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Xxxxxx’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Xxxxxxxx’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Xxxxxx under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Xxxxxx and renewals of such policies shall be subject to Xxxxxx’s right to disapprove such policies, shall include a standard mortgage clause, and shall name Xxxxxx as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Xxxxxx as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Xxxxxxxx. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Xxxxxx has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Xxxxxxxx abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Xxxxxxxx does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Xxxxxx may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower’s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.

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