Property Insurance Requirements. RPTA shall maintain the following minimum property insurance coverage for their personal property, “all risks” of loss, or, risks of direct physical loss or damage, or, fire and extended coverage including perils of equipment breakdown/boiler and machinery, flood and earth movement, tenant improvements and betterments and business personal property. The limits shall be equivalent to at least the full replacement cost value of the property. The property shall be described on the certificate of insurance. The policy shall name the City of Tempe as “loss payee” as their interest may appear.
Appears in 4 contracts
Samples: Joint Use and Lease Agreement, Joint Use and Lease Agreement, Joint Use and Lease Agreement
