Common use of LIABILITY AND FIRE INSURANCE Clause in Contracts

LIABILITY AND FIRE INSURANCE. The Lessor shall require the Lessee to carry, maintain and have in full force and effect fire, workmens compensation, public liability, and product liability insurance with a recognized insurance company authorized to transact business in the State of Nevada for the benefit of the Lessor and Lessee, and for the protection of all persons who may suffer injury while in, on or about said premises. The amount of said policy must be approved by Lessor in its sole discretion, within normal and customary limits for an operation of this type. Lessor shall be furnished with copies of said policies and all endorsements thereto. The Lessee shall carry insurance against loss by destruction of the demised premises caused by fire, explosion or other action of the elements, except loss caused by earthquake, equal to ninety per cent (90%) of the value of the improvements.