Common use of Real Property Insurance Clause in Contracts

Real Property Insurance. Landlord shall purchase and keep in force policy(ies) of insurance covering loss or damage to the Premises by reason of fire (extended coverage), and those perils included within the classification of “all risks” insurance (with sprinkler damage and other coverages and/or endorsements desired by Landlord), which insurance shall be in the amount of the full replacement value of the Premises as determined by insurance company appraisers or Landlord’s insurance broker; plus Landlord’s liability insurance; plus rental income insurance in the amount of one hundred (100%) percent of up to twelve (12) months Basic Rent (plus sums paid or payable during such period as Additional Rent). Such coverage shall exclude routine maintenance and repairs and incidental damage or destruction caused by accidents or vandalism for which Tenant is responsible under Section 9. Tenant agrees to pay to Landlord in equal estimated monthly installments as Additional Rent in accordance with Section 5. of this Lease the cost of such insurance coverage; or if Tenant does not lease the entire Building, then Tenant’s proportionate share of the cost of such insurance coverage which shall be allocated during the Lease Term to the Premises by building square footage or other equitable basis as calculated and determined solely by Landlord or Landlord’s insurance broker. If such insurance cost is increased due to Tenant’s particular use of the Premises, Tenant agrees to pay to Landlord the full cost of such increase. Tenant shall have no interest in nor any right to the proceeds (or allocation thereof) of any insurance procured by Landlord for or with respect to the Premises.

Real Property Insurance. Landlord shall purchase and keep in force policy(ies) of insurance covering loss or damage to the Premises by reason of fire (extended coverage), and those perils included within the classification of “all risks” insurance (with sprinkler damage and other coverages and/or endorsements desired by Landlordappropriate endorsements), which insurance shall be in the amount of the full replacement value of the Premises as determined by insurance company appraisers or LandlordLanlord’s insurance broker; plus Landlord’s liability insurance; plus rental income insurance in the amount of one hundred (100%) percent of up to twelve (12) months Basic Rent (plus sums paid or payable during such period as Additional Rent). Such coverage shall exclude routine maintenance and repairs and incidental damage or destruction caused by accidents or vandalism for which Tenant is responsible under Section 9. Tenant agrees to pay to Landlord in equal estimated monthly installments as Additional Rent in accordance with Section 5. of this Lease the cost of such insurance coverage; or if Tenant does not lease the entire Building, then Tenant’s proportionate share of the cost of such insurance coverage which shall be allocated during the term of this Lease Term to the Premises by building square footage or other equitable basis as calculated and determined solely by Landlord or Landlord’s insurance broker. If such insurance cost is increased due to Tenant’s particular use of the Premises, Tenant agrees to pay to Landlord the full cost of such increase. Tenant shall have no interest in nor any right to the proceeds (or allocation thereof) of any insurance procured by Landlord for or with respect to the Premises.

Real Property Insurance. Landlord shall purchase and keep in force policy(ies) of insurance covering loss or damage to the Premises Building by reason of fire (extended coverage), and those perils included within the classification of “all risks” insurance (with sprinkler damage and other coverages and/or endorsements desired by Landlordappropriate endorsements), which insurance shall be in the amount of the full replacement value of the Premises Building as determined by insurance Insurance company appraisers or Landlord’s insurance broker; plus Landlord’s liability insurance; plus rental income insurance in the amount of one hundred (100%) percent of up to twelve (12) months Basic Rent (plus sums paid or payable during such period as Additional Rent). Such coverage shall exclude routine maintenance and repairs and incidental damage or destruction caused by accidents or vandalism for which Tenant is responsible under Section 9. Tenant agrees to pay to Landlord in equal estimated monthly installments as Additional Rent in accordance with Section 5. of this this, Lease the cost of such insurance coverage; or if Tenant does not lease the entire Building, then Tenant’s proportionate share of the cost of such insurance coverage which shall be allocated during the term of this Lease Term to the Premises by building square footage or other equitable basis as calculated and determined solely by Landlord or Landlord’s insurance broker. If such insurance cost is increased due to Tenant’s particular use of the Premises, Tenant agrees to pay to Landlord the full cost of such increase. Tenant shall have no interest in nor any right to the proceeds (or allocation thereof) of any insurance procured by Landlord for or with respect to the Premises.