Common use of Leased Fees Clause in Contracts

Leased Fees. Jared Galleria of Jewelry and PX Xxxxx’x are leased fee properties, where tenant constructed improvements and either maintains its own insurance or self-insures. Subject to applicable restoration obligations, casualty proceeds are payable to tenant and/or its leasehold mortgagee.

Leased Fees. Jared Galleria of Jewelry and PX Xxxxx’x are leased fee properties, where tenant constructed improvements and either maintains its own insurance or self-insures. Subject to applicable restoration obligations, casualty proceeds are Representation Number on Exhibit C Mortgage Loan Name and Number as Identified on Exhibit A Description of Exception payable to tenant and/or its leasehold mortgagee.