Landlord’s Property Insurance. Landlord shall keep the Building, including the improvements (but excluding Tenant’s Property), insured against damage and destruction by perils insured by the equivalent of ISO Special Form Property Insurance in the amount of the full replacement value of the Building.
Landlord’s Property Insurance. During the LEASE TERM, LANDLORD shall maintain fire and extended coverage policies covering the PREMISES. The limits for such insurance shall be for the full replacement value of the property so insured. Such policies shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils which LANDLORD deems reasonably necessary and may include business interruption coverage covering a maximum of twelve (12) months from the date of such damage or destruction. Such insurance shall be carried with an insurance company with a Best rating of B+ or better and LANDLORD shall, upon TENANT’s request, provide TENANT with a certificate of insurance evidencing such coverage. LANDLORD shall not obtain insurance for TENANT’s fixtures or equipment or building improvements installed by TENANT on the PREMISES. TENANT shall not do or permit anything to be done which invalidates any such insurance policies. LANDLORD may maintain earthquake insurance at LANDLORD’s sole cost and expense and TENANT shall not be required to pay its pro rata share thereof.
Landlord’s Property Insurance. (a) Landlord, as Insuring Party under this Article 8-3, shall obtain and keep in force during the Term a policy or policies of insurance covering loss or damage to the Building, in the amount of not less than ninety percent (90%) of the replacement value thereof, as the same may exist from time to time against all perils included within the classification of all risk, sprinkler leakage, flood and earthquake (if available and desired by Landlord or Landlord’s lender). Said insurance shall provide for payment of loss thereunder to Landlord or to the holders of mortgages or deeds of trust on the Premises. Landlord shall, in addition, obtain and keep in force during the Term a policy of rental income insurance covering a period of one (1) year, with loss payable to Landlord, which insurance shall also cover all real estate taxes and insurance costs for said period.
(b) Tenant shall pay for any increase in the property insurance of the Building or other buildings in the Center if said increase is caused by Tenant’s acts, omissions, use or occupancy of the Premises. It is provided, however, that Tenant shall not be required to pay for any such increases in insurance costs of adjacent premises unless such increased insurance cost was the result of unusual features of Tenant’s occupancy of the Premises or of Tenant’s unusual acts or omissions, the intent of the parties being to require Tenant to be financially responsible to the extent of such cost increases for creating situations of unusual hazard.
(c) Landlord will not insure Tenant’s trade fixtures, equipment, contents, goods, wares, merchandise, or other property of Tenant (“Tenant’s Contents”) from time to time in or upon the Premises but shall insure Tenant’s Improvements. For the purposes of this Lease “Tenant Improvements” shall mean any and all alterations, additions, or improvements constructed in or on the Premises which are or are to become Landlord’s property under this Lease, whether such alterations, additions, or improvements are constructed or installed by Landlord pursuant to Exhibit ”B” to this Lease or otherwise, or by Tenant pursuant to any other exhibit to this Lease or otherwise; provided, however, that any items listed in Article 12-2 as being Landlord’s obligation to repair shall not be deemed to be Tenant Improvements.
(d) Not more frequently than once each year, if, in the opinion of Landlord’s lender or insurance carrier, the amount of property insurance required hereunder is not adequ...
Landlord’s Property Insurance. Landlord agrees to keep Landlord's improvements in the Shopping Center (including, without limitation, the Building) insured against loss or damage by fire and such other risks as are from time to time included in broad form extended coverage insurance, in an amount equal to the replacement cost thereof. A duplicate original or a certificate of the policy shall be delivered to Tenant within ten (10) days after Tenant's written request therefor. Each policy shall contain a provision that the underwriter will give Tenant at least thirty (30) days prior written notice of any cancellation or lapse of the insurance.
Landlord’s Property Insurance. Commencing on the Commencement Date and continuing throughout the Term, Landlord will provide and maintain Special Form Insurance covering loss or damage to the Land and to the core and shell of the Improvements on a full replacement cost basis. Landlord’s property insurance maintained pursuant to this paragraph shall not include any of the Tenant-Insured Improvements, but shall include all Alterations for which Landlord has not issued a Removal Notice.
Landlord’s Property Insurance. Commencing as of the Commencement Date, and thereafter throughout the term of this Lease, Landlord shall, at Landlord’s sole cost and expense, provide and maintain or cause to be provided and maintained a property insurance policy insuring all buildings (and building additions) and other improvements in the Center, Tenant’s store building, and Tenant Improvements (but excluding those items insured by Tenant as required under Section 26(d)) for all the hazards and perils normally covered by the Causes of Loss-Special Form. Said property insurance policy shall include endorsements for coverage against: (i) earthquake and flood (including, but not limited to, mud slide, flood hazard or fault area(s), as designated on any map prepared or issued for such purpose by any governmental authority); and (ii) increased costs of construction and demolition due to law and ordinance. The foregoing property coverage shall be provided in amounts sufficient to provide one hundred percent (100%) of the full replacement cost of all buildings (and building additions) and other improvements in the Center, Tenant’s store building, and Tenant Improvements (but excluding those items insured by Tenant as required under Section 26(d)). If for any reason the Causes of Loss-Special Form is not customarily used in the insurance industry, then the property insurance policy then in effect shall at least provide coverage for the following perils: fire, lightning, windstorm and hail, explosion, smoke, aircraft and vehicles, riot and civil commotion, vandalism and malicious mischief, sprinkler leakage, sinkhole and collapse, volcanic action, earthquake or earth movement, and flood, and increased costs of construction and demolition due to law, ordinance and inflation. Neither Tenant nor any of its affiliates or subtenants shall be liable to Landlord for any loss or damage (including loss of income), regardless of cause, resulting from fire, flood, act of G-d or other casualty.
Landlord’s Property Insurance. During the LEASE TERM, LANDLORD shall maintain fire and extended coverage policies covering the PREMISES and all other buildings and improvements within the SHOPPING CENTER. The limits for such insurance shall be for the full replacement value of the property so insured. Such policies shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage and any other perils which LANDLORD and/or the owner of the SHOPPING CENTER deems reasonably necessary and may include business interruption coverage covering a maximum of twelve (12) months from the date of such damage or destruction. Such insurance shall be carried with an insurance company with a Best rating of B+ or better and LANDLORD shall, upon TENANT’s request, provide TENANT with a certificate of insurance evidencing such coverage. LANDLORD shall not obtain insurance for TENANT’s fixtures or equipment or building improvements installed by TENANT on the PREMISES. TENANT shall not do or permit anything to be done which invalidates any such insurance policies. LANDLORD may maintain earthquake insurance at LANDLORD’s sole cost and expense and TENANT shall not be required to pay its pro rata share thereof.
Landlord’s Property Insurance. Landlord agrees to purchase and keep in force and effect commercial property insurance insuring
(i) the Base Building Work in an amount equal to one hundred percent (100%) of the full replacement cost of the Base Building Work (excluding footings and foundations), subject to a reasonable deductible not to exceed one percent (1%) of such full replacement cost of the Base Building Work, and
(ii) rent loss insurance for a period and amount of not less than one (1) year of rent. Said commercial property insurance policy shall, at a minimum, cover the perils insured under the ISO special causes of loss form (CP 10 03) which provides “all risk” coverage. Such insurance shall provide that it is specific, primary, and noncontributory, and shall contain a replacement cost endorsement and a clause pursuant to which the carrier waives all rights of subrogation against the Tenant Protected Parties and other occupants of the Premises with respect to losses payable under such policies. All such policies shall be issued by insurers that are licensed or authorized to conduct business in Illinois with a minimum Best rating of “A-X” or “Excellent.” In no event shall Tenant be liable to Landlord for any extra expense or business interruption (including loss of rent) or other consequential loss sustained by Landlord on account of any occurrence of an event insurable under the commercial property insurance required to be carried by Landlord, whether or not such insurance is in effect, even if such loss is caused by the act or omission of Tenant, its employees, officers, directors, or agents. It is expressly understood that Landlord’s property insurance shall not insure improvements to the Premises that are in excess of the Base Building Work, and the cost of any insurance which in fact does cover any such other improvements shall not be included as an Operating Expense.
Landlord’s Property Insurance. Landlord shall during the Term maintain in effect fire insurance, with extended coverage endorsement, and Landlord may maintain such other coverage and endorsements, including but not limited to, “All Risks” vandalism, malicious mischief and earthquake insurance, as Landlord deems necessary and desirable, in an amount equal to not less than ninety percent (90%) of the replacement cost the Premises and the building in which the Premises are located, all improvements constructed thereon and any additions thereto or replacements thereof, covering the Premises, exclusive of foundation and excavation costs, together with loss of rents insurance on the Premises against loss by perils covered by such insurance in amounts not less than one year’s full Rent, the proceeds of which shall be payable to Landlord and any Mortgagee, as their interests may appear. Said insurance shall not contain a coinsurance or contribution provision, but will contain replacement cost endorsement and deductibles. The cost of said insurance shall be a Shop Buildings Expense and borne in accordance with Article 10.
Landlord’s Property Insurance. Landlord shall obtain and maintain during the Term property insurance upon all buildings, building improvements, and personal property owned by the Landlord with coverage for perils as set forth in the Causes of Loss-Special Form, with coverage extended for the perils of flood and earthquake, in an amount equal to full insurable replacement cost. Such insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, an ordinance and law endorsement, debris removal coverage, and a waiver of subrogation endorsement in favor of the Tenant. Said insurance shall provide for payment for loss to Landlord or to the holder (or holders) of a mortgage or deed of trust on the Premises (“Landlord’s Property Insurance”). The cost of such insurance shall be reimbursed by Tenant to Landlord as set forth in Section 11.1.
