SUPPLEMENTAL - INSURANCE
(1)
LIABILITY INSURANCE Landlord shall at its expense, maintain a
policy or policies of comprehensive general liability insurance with
the premiums thereon fully paid on or before due date, issued by and
binding upon some solvent insurance company, such insurance to afford
minimum protection of not less than $3000,000.00 in respect of personal
injury or death in respect of any one occurrence and of not less than
$100,000.00 for property damage in any one occurrence.
(2)
CASUALTY INSURANCE Landlord shall maintain fire and extended cov-
erage insurance on the portion of the Building constructed by Landlord,
including additions and improvements by Tenant which are required to be
made by Tenant by this lease and which have become or are to become the
property of Landlord upon vacation of the leased premises by Tenant.
Said insurance shall be maintained with an insurance company authorized
to do business in Illinois, in amounts desired by Landlord and at the
expense of Landlord and payments for losses thereunder shall be made
solely to Landlord. Tenant shall maintain at its expense fire and ex-
tended coverage insurance on all of its personal property, including
removable trade fixtures, located in the leased premises and on all ad-
ditions and improvements made by Tenant and not required to be insured
by Landlord above. If the annual premiums to be paid by Landlord shall
exceed the standard rates because Tenant's operations, contents of the
leased premises, or improvements with respect to the leased premises
beyond building standard, result in extra-hazardous exposure, Tenant
shall promptly pay the excess amount of the premium upon request by
Landlord.
(3)
INSURANCE
SECTION 1. Lessee shall at all times after commencement of the
rental term, at its sole cost and expense, keep the building or
buildings and improvements on the demised premises insured against all
risks of physical loss for not less than the full replacement value
thereof, and shall keep all such insurance in full force and effect
during the entire term of this lease. Such insurance shall be procured
from a responsible insurance company or companies reasonably
satisfactory to the Lessor and authorized to do business in the state in
which the demised premises are located, and shall provide for payment
of loss thereunder to the Lessor and Lessee as their interests may ap-
pear and the policies or certificates evidencing such insurance shall
be delivered to the Lessor whitin sixty (60) days after the execution
of this lease. Provided acceptable binders or other evidence of insur-
ance in force are delivered prior to (60) days after the execution of
this lease, provided acceptable binders or other evidence of insurance
in force are delivered prior to commencement of the lease term, and
renewals thereof shall be delivered to the Lessor at least thirty (30)
days prior to the expiration dates of the respective policies. In the
event Lessor at any time therafter shall cause a mortgage or trust deed
to be placed against the demised premises, Lessor shall be entitled to
have all appropriate insurance policies called for in this lease en-
dorsed with a standard mortgagee loss payable clause, making losses, if
any, payable to the mortgagee or trustee as its interests may appear.
Provided, however any such mortgage or trust deed shall provide that
the proceeds of any insurance, in the event of loss, shall be used to
repair, restore or rebuild the demised premises so long as the Lessor
is not in default under said mortgage or trust deed.
Section 2. In case Lessee shall at any time fail, neglect or re-
fuse to insure such buildings and improvements and to keep the same
insured as hereinbefore provided, then Lessor may at its election
procure or renew such insurance and any amounts paid therefor by the
Lessor shall be so much additional rental due from the Lessee to the
Lessor at the next rent day after any such payment, with interest at
the rate of percent per annum from the date of
payment thereof by the Lessor until the repayment thereof to the Lessor
by the Lessee.
Section 3. Not less frequently than once in each five (5) years
after the commencement of the term hereof, Lessee shall furnish at its
own expense to the Lessor, insurance appraisals such as are regularly
and ordinarily made by insurance companies for such purpose in order to
determine the then replacement cost of the building or buildings and
improvements on the demised premises. In the event that at any time
the parties hereto are unable to agree as to the replacement cost of
the buildings and improvements, the Lessor may, at the joint and equal
expense of Lessor and Lessee, procure an insurance appraisal, which ap-
praisal so furnished shall then be binding upon both of the parties
hereto with respect to the then replacement cost of the buildings and
improvements of the demised premises.
Section 4. In the event of loss under any such policy or policies,
the insurance proceeds shall be paid out upon architect's certificates
for the expense of repairing or rebuilding the buildings or
improvements which have been damaged or destroyed. Provided, however,
that it shall first appear to the satisfaction of the Lessor that the
amount of insurance money on hand shall at all times be sufficient to
pay for the completion of said repairs or rebuilding. Upon the com-
pletion of said repairs or rebuilding free from all liens of mechanics
and material men or others, any surplus of insurance monies shall be
paid to and belong to the Lessee.
(4)
INSURANCE
At all times during the term and all extensions and renewals of this
Lease, Landlord shall keep in full force comprehensive, all-risk, build-
ing insurance for the full insurable value of the building against loss
or damage to the building of which the Demised Premises are a part.
Tenant covenants that nothing shall be done or suffered by it nor shall
any substance be kept by it in the Demised Premises that will cause an
increase in the fire hazard or cause the fire insurance rates thereon
to be increased above their level at the beginning of the term of this
Lease. Tenant and Landlord shall maintain and keep in full force
during the term of this Lease and all extensions and renewals thereof,
the following insurance coverages. (i) comprehensive general liability
insurance covering bodily injury with limits of at least $500,000 per
occurrence. (ii) comprehensive general liability insurance covering
property damage with limits of at least $500,000 per occurrence. (iii)
employer's liability insurance with limits of at least $500,000 per
occurrence. and (iv) workmen's compensation insurance as required by
law. Landlord's insurance policies required above shall provide for
written notice to Tenant at least thirty (30) days prior to
cancellation and Tenant's insurance policies shall provide for written
notice to Landlord at least thirty (30) days prior to cancellation and
Tenant's insurance policies shall provide for written notice to
Landlord at least thirty (30) days prior to cancellation. Each party
shall, upon the written request of the other party, provide appropriate
certificates evidencing theexistence of the insurance coverages re-
quired by this Lease. Neither party shall be required to repair, re-
place, reconstruct or pay for any property of the other party which may
be damaged or destroyed by fire, floor, windstorm, earthquake, strikes,
riots, civil commotions, acts of public enemy, acts of God or other
casualty, and each party hereby waives on behalf of itself and its
insurer all rights of subrogation and claims against the other for all
loss or damage arising out of perils normally insured against by
standard fire and extended coverage insurance.
(5)
INSURANCE.
A. Waiver of Subrogation.
Landlord and Tenant each hereby waive any and every claim for reco-
very from the other for any and all loss of or damage to the Building
or Premises or to the contents thereof, which loss or damage is covered
by valid and collectible fire and extended coverage insurance policies,
to the extent that such loss or damage is recoverable under said
insurance policies.
Inasmuch as this mutual waiver will preclude the assignemnt of any such
claim by subrogation (or otherwise) to an insurance company (or any
other person), Landlord and Tenant each agree to give to each insurance
company which has issued or in the future may issue, to its policies of
fire and extended coverage insurance, written notice of the terms
of this mutual waiver, and to have said insurance policies properly
endorsed, if necessary, to prevent the invalidation of said insurance
coverage by reason of said waiver.
B. Coverage.
Tenant shall carry insurance during the entire Term insuring
Tenant and Landlord (as their interest may appear) with terms, cov-
erages and in companies satisfactory to Landlord, and with such
increases in limits as Landlord may from time to time request, but
initially Tenant shall maintain the following coverages in the fol-
lowing amounts.
(i) in case of personal injury to or death of any person or
persons, not less than $1,000,000 for each injury or
death to a person and $3,000,000 for each incident in-
volving personal injury or death to persons, and, in case
of property damage, not less than $1,000,000 for any one
occurrence. and
(ii) in case of fire, sprinkler leakage, malicious mischief,
vandalism, and other extended coverage perils, for the
full insurable replacement value of all additions, im-
provements and alterations to the Premises which are
beyond the "building standard" Tenant improvements
provided by Landlord and of all office furniture, trade
fixtures, office equipment, merchandise and all other
items of Tenant's property on the Premises.
Tenant shall, prior to the commencement of the Term, furnish to
Landlord certificates evidencing such coverage, which certificates
shall state that such insurance coverage may not be changed or cancelled
without at least ten days prior written notice to Landlord and Tenant
and shall name Landlord as an additional insured.
C. Avoid Action Increasing Rates
Tenant shall comply with all applicable laws and ordinances,
all orders and decrees of court and all requirements of other
governmental authorities, and shall not, directly or indirectly, make
any use of the Premises which may thereby be prohibited or be dangerous
to person or property or which may jeopardize any insurance coverage or
may increase the cost of insurance or require additional insurance cov-
erage. If by reason of the failure of Tenant to comply with the
provisions of this Paragraph 11C, any insurance coverage is jeopardized
or insurance premiums are increased, Landlord shall have the option
either to terminate this Lease or to require Tenant to make immediate
payment of the increased insurance premium.
(6)
Waiver of Default
No waiver of default of Tenant shall be implied, and no express
waiver shall affect any default other than the default specified in
such waiver and that only for the time and to the extent therein
stated. The invalidity or unenforceability of any provision of this
lease shall not affect or impair any other provision.
(7)
DISCLAIMER
Landlord shall not be liable or responsible to Tenant for any failure
of heat, water, air conditioning, gas or electric service, or for any
injury to persons or damage to property belonging to Tenant or to any
property of a third party located on the Demised Premises with the con-
sent of Tenant, except if such failure, injury to persons or damage to
property is caused by the negligent acts, willful conduct or failure to
act of Landlord, its employees, agents or contractors.
The failure of Landlord or Tenant to insist upon strict perform-
ance by the other of any of the covenants or conditions of this lease
in any one or more instances shall not be construed as a waiver or
relinquishment for the future of any of such covenants or condi-
tions, but the same shall be and remain in full force and effect. No
waiver of any provision of this lease shall be deemed to have been made
unless in writing and signed by the party to be charged therewith.
(8)
LIMITATION OF LANDLORD'S PERSONAL LIABILITY
Tenant specifically agrees to look solely to Landlord's
interest in the Buiilding for the recovery of any judgment from
Landlord, it being agreed that Landlord shall never be personally
liable for any such judgment. The provision contained in the foregoing
sentence is not intended to, and shall not, limit any right that Tenant
might otherwise have to obtain injunctive relief against Landlord or
Landlord's successors in interest, or any other action not involving
the personal liability of Landlord to respond in monetary damages from
assets other than Landlord's interest in the Building or any suit or
action in connection with enforcement or collection of amounts which
may become owing or payable under or on account of insurance maintained
by Landlord.
(9)
It is expressly understood and agreed by Tenant that none
of Landlord's covenants, undertakings or agreements are made or
intended as personal covenants, undertakings or agreements by Landlord
as trustee as aforesaid, or its beneficiaries, and any liability for
damage or breach or nonperformance by Landlord shall be collectible only
out of Landlord's interest in the Building. No personal liability is
assumed by, nor at any time may be asserted against, Landlord or its
beneficiaries or any of its or their heirs, legal representatives, suc-
cessors or assigns, all such liability, if any, being expressly waived
and released by Tenant.
(10)
INDEMNITY FOR LITIGATION
In case the Lessor shall without fault on its part be made a party
to any litigation commenced by or against the Lessee, then the Lessee
shall and will pay all costs and expenses, including attorneys' fees,
incurred by or imposed on the Lessor by or in connection with such
litigation. Also shall and will pay all costs and expenses, includ-
ing attorneys' fees, which may be incurred by the Lessor in enforcing
any of the covenants and agreements of this lease, and all such costs,
expenses and attorneys' fees shall, if paid by Lessor herein, be so
much additional rent due on the next rent date after such payment or
payments, together with interest at ____________ percent ________________
per annum from the date of payment.
(11)
NON WAIVER Failure of Landlord to declare any default immediately
upon occurrence thereof, or delay in taking any action in connection
therewith, shall not waive such default, but Landlord shall have the
right to declare any such default at any time and take such action as
might be lawful or authorized hereunder, either in law or in equity.
(12)
INDEMNITY
Tenant shall hold Landlord harmless from liability to third parties for
personal injury, death and damage to tangible property resulting
directly from Tenant's negligence or willful conduct.
Landlord shall hold Tenant harmless from liability to third parties for
personal injury, death and damage to tangible property resulting
directly from Landlord's negligence or willful conduct.
(13)
WAIVER. The waiver by any party hereto of any breach or de-
fault of any provision anywhere contained in this Lease shall not be
deemed to be a waiver of any such provision or of any subsequent breach
or default thereof. No provision of this lease shall be deemed to have
been waived by any party hereto unless such waiver be in writing and
signed by the party charged with any such waiver. No waiver of any
breach shall affect or alter this Lease.
(14)
WAIVER OF CLAIMS AND INDEMNITY
(a) Tenant hereby releases and waives all claims against Landlord,
the managing agent of the Building, the Landlord's beneficiaries, and
said persons' agents, employees and servants for injury or damage to
person, property or business sustained in or about the Building or the
premises by Tenant, its agents, employees or servants, other than by
reason of the negligence or willfulness of Landlord, its beneficiaries
or their respective agents or employees.
(b) Tenant agrees to indemnify and hold harmless Landlord, the
Landlord's beneficiaries, the managing agent of the Building and said
persons' agents, employees and servants against any and all claims, de-
mands, costs and expenses of every kind and nature, including rea-
sonable attorneys' fees. Arising from Tenant's occupancy of the
Premises or from any breach or default on the part of Tenant in the
performance of any agreement of Tenant to be performed pursuant to the
terms of this lease, or from any act or neglect of Tenant, any sub-
Tenant, their respective employees, agents, guests, servants, invitees
or customers in or about the premises. In case any such proceeding is
brought against any of said persons, Tenant covenants to defend such
proceeding at its sole cost and expense by legal counsel reasonably
satisfactory to Landlord, if reguested by Landlord.
(15)
Waiver of Certain Claims
Tenant waives and releases all claims against Landlord, its of-
ficers, directors, agents, employees and servants, in respect of, and
they shall not be liable for injury to person or damage to property or
loss of business sustained by Tenant or by any occupant of the Premises
of the building, or any other person occurring in or about the building
or the Premises resulting directly, or indirectly, from any existing or
future condition, defect, matter or thing in the Premises, the building
or any part of it, or from equipment or appurtenance therein, or from
accident, or from any occurrence, act, or from negligence or omission
of any Tenant or occupant of the building, or of any other person. But
nothing in this article shall be deemed to relieve Landlord from
liability for damages for injuries to person or property caused by or
resulting from the negligence of Landlord, its agents, servants or em-
ployees. This article shall apply especially, but not exclusively, to
damage caused as aforesaid or by the flooding of basements or other
subsurface areas or by refrigerators, sprinkling devices, air con-
ditioning apparatus, water, snow, frost, steam, excessive heat or cold,
falling plaster, broken glass, sewage, gas, odors or noise, or the
bursting or leaking of pipes or plumbing fixtures, and shall apply
equally whether any such damage results from the act or omission of
other Tenants, occupants or servants of the building or of any other
persons, and whether such damage be caused or result from any thing or
circumstance above mentioned, or any other thing or circumstance
whether of a like or wholly different nature. If any such damages to
the Premises or to the building or any equipment or appurtenance
therein, or to Tenants thereof, results from any act or omission or
negligence of Tenant, its agents, employees or invitees, Landlord may,
at Landlord's option, repair such damage and Tenant shall, upon demand
by Landlord, reimburse Landlord forthwith for all costs of such repairs
and damages both to the building and to the Tenants thereof, in excess
of the amounts, if any, paid to Landlord under insurance covering such
damages. All property in the building or in the Premises belonging to
Tenant, its agents, employees or invitees, or to any occupant of the
Premises shall be there at the risk of Tenant or other person only, and
Landlord shall not be liable for damage thereto or theft, misap-
propriation or loss thereof. Tenant agrees to hold Landlord harmless
and to indemnify it against claims and liability for injuries to all
persons and for the damage to, or the theft, misappropriation or loss
of all property occurring in or about the Premises, if due to act or
omission of Tenant, its agents or employees.
(16)
Landlord and Tenant agree that, in any proceeding or action
brought by either party hereunder against the other on any matter
whatsoever arising out of, under or by virtue of the terms of this
lease, they shall and do hereby waive trial by jury.
(17)
INDEMNITY
Landlord hereby indemnifies and holds Tenant harmless from any
claim, demand, liability or cause of action for any brokerage com-
mission, fee or other similar compensation or cost arising out of the
acts of Landlord in connection with this Lease or the leasehold estate
created hereby.
(18)
WAIVER OF CLAIMS--INDEMNIFICATION.
To the extent not prohibited by law, Landlord and its of-
ficers, agents, servants and employees shall not be liable for any
damage either to person or property or resulting from the loss of use
thereof sustained by Tenant or by other persons due to the building or
any part thereof or any appurtenances thereof becoming out of repair,
or due to the happening or any accident or event in or about the build-
ing, or due to any act or neglect of any Tenant or occupant of the
Building or of any other person. This provision shall apply
particularly, but not exclusively, to damage caused by gas, elec-
tricity, snow, frost, steam, sewage, sewer gas or odors, fire, water or
by the bursting or leaking of pipes, faucets, sprinklers, plumbing
fixtures and windows, and shall apply without distinction as to the
person whose act or neglect was responsible for the damage and whether
the damage was due to any of the causes specifically enumerated above or
to some other cause of an entirely different kind. Tenant further
agrees that all personal property upon the Premises, or upon loading
docks, receiving and holding areas, or freight elevators of the Build-
ing, shall be at the risk of Tenant only, and that Landlord shall not
be liable for any loss or damage thereto or theft thereof. Without
limitation of any other provisions thereof, Tenant agrees to defend,
protect, indemnify and save harmless Landlord from and against all
liability to third parties arising out of the acts of Tenant and its
servants, agents, employees, contractors, suppliers, workmen and
invitees.
(19)
INSURANCE AND WAIVER OF LIABILITY
Landlord shall provide, at its expense, throughout the term of this
Lease, public liability insurance covering all injuries occurring
within the building and the Premises. The policy or policies evidenc-
ing such insurance shall name Tenant as an additional insured, shall
provide that same may not be cancelled or amended without fifteen (15)
days prior written notice to Tenant, and shall provide for a combined
coverage of bodily injury and property damage in an amount of not less
than One Million Dollars ($1,000,000). Such policy or policies shall be
issued by an insurance company licensed to do business in the state,
and in a form acceptable to Tenant. Prior to the Commencement Date,
Landlord shall submit to Tenant suitable evidence that the foregoing
policy or policies are in effect.
Landlord, for itself and its insurers, hereby releases Tenant with
respect to any liability (including that deriving from the fault or
neglect of Tenant, assignees, subtenants, its agents, employees or
other persons under its or their direction or control) which Tenant
might otherwise have for any damage to the building or the Premises by
fire, other casualty or cause occurring during the term of this Lease.
Landlord shall insure the Building against fire or other casualty with
extended coverage endorsement with an insurance company selected by
Landlord and Landlord shall cause the policy evidencing such insurance
to include a provision permitting such release of liability if such a
provision is obtainable from such insurer at no additional expense to
Landlord. If such insurer will not include such a provision in such
policy, or if the inclusion of such provision in such policy would
involve an additional expense for Landlord, Landlord shall so notify
Tenant within a reasonable time. Where such a provision is obtainable
from such insurer and Tenant notifies Landlord in writing within a rea-
sonable time thereafter that Tenant desires Landlord to cause such a
provision to be included in such policy at the expense of Tenant,
Landlord shall cause such a provision to be included, and Tenant agrees
to pay promptly all expenses incurred by Landlord as a result of such
inclusion.
(20)
WAIVER OF RIGHTS AND OTHER. No failure of Lessor or Lessee to
exercise any power given Lessor or Lessee hereunder, or to insist upon
strict compliance with the terms hereof, and no custom or practice of
the parties at variance with the terms hereof shall constitute a waiver
of either party to demand exact compliance with the terms hereof.
(21)
NONWAIVER
No waiver of any provision of this Lease shall be implied by
any failure of Landlord to enforce any remedy on account of the violation
of such provision, even if such violation be continued or repeated
subsequently, and no express waiver shall affect any provision other
than the one specified in such waiver and that one only for the time
and in the manner specifically stated. No receipt of moneys by
Landlord from Tenant after the termination of this Lease shall in any
way alter the length of the term of Tenant's right of possession
hereunder or after the giving of any notice shall reinstate, continue
or extend the term or affect any notice given Tenant prior to the re-
ceipt of such moneys, it being agreed that after the service of notice
or the commencement of a suit or after final judgement for possession
of the Premises, Landlord may receive and collect any Rent due, and the
payment of said Rent shall not waive or affect said notice, suit or
judgment.
(22)
Waiver of Certain Claims. To the full extent now, or here-
after, permitted by law, Tenant waives and releases all claims against
Landlord, its officers, directors, agents, employees and servants, in
respect of, and they shall not be liable for injury to person or damage
to property sustained by Tenant or by any occupant of the Premises or
the Building, or any part of it,or from equipment or appurtenance
therein, or from accident, or from any occurrence, act, or from negli-
gence or omission of any Tenant or occupant of the Building, or of any
other person including Landlord, its officers, directors, agents, em-
ployees and servants. This section shall apply especially, but not ex-
clusively, to damage caused as aforesaid or by the flooding of
basements or other sub-surface areas or by refrigerators, sprinkling
devices, air conditioning apparatus, water, snow, frost, steam, exces-
sive heat or cold, falling plaster, broken glass, sewage, gas, odors or
noise. Or the bursting or leaking of pipes or plumbing fixtures, and
shall apply equally whether any such damage results from the act or
omission of other Tenants, occupants or servants of the Building or of
any other persons including Landlord, its officers, directors, agents,
employees and servants, and whether such damage be caused or result
from anything or circumstance above mentioned, or any other thing or
circumstance whether alike or wholly different in nature. If any such
damage to the premises or to the Building or any equipment or ap-
purtenance therein, or to Tenants thereof, results from any act or
omission or negligence of Tenant, its agents, employees or invitees,
Landlord may, at Landlord's option, repair such damage and Tenant
shall, upon demand by Landlord, reimburse Landlord forthwith for all
costs of such repairs and damages both to the building and to the Ten-
ants thereof, in excess of the amounts, if any, paid to Landlord under
insurance, if any, covering such damages. All property in the Building
or in the Premises belonging to Tenant, its agents, employees, or
invitees, or to any occupant of the Premises shall be there at the risk
of Tenant or other person only, and Landlord shall not be liable for
damage thereto or theft, misappropriation or loss thereof. Tenant
agrees to hold Landlord harmless and to indemnify it against claims and
liability for injuries to all persons and for the damage to, or the
theft, misappropriation or loss of all property occurring in or about
the premises, or due to act or omission of Tenant, its agents or em-
ployees or invitees.
(23)
INDEMNITY AND INSURANCE. Tenant agrees to hold harmless
Landlord from any and all injury or damage to any person or property,
occurring in, on, or about the premises excepting such injury or damage
resulting from the acts or omissions of another tenant of a part of the
remainder of the entire premises of Landlord. Landlord agrees to hold
harmless Tenant from any and all injury or damage to any person or
property, other than Tenant's property, resulting from its acts or
omissions.
Landlord shall, at Landlord's expense, procure and maintain at
all times during the Term of this Lease a policy or policies of
insurance covering loss or damage to the warehouse structure and its
appurtancnes in the amount of the full replacement value thereof
(exclusive of Tenant's trade fixtures, personal property and
equipment), providing protection against all perils included within the
classification of fire, explosion, windstorm, extended coverage,
vandalism, malicious mischief, sprinkler leakage and special extended
perils (all-risk), if available under applicable Texas law and
requirements of the Texas State Board of Insurance. Tenant is hereby
released from liability to Landlord on account of any loss or damage
occurring during the term to the premises, resulting from any otherwise
insurable fire, explosion or other casualty, however caused, including
any act of Tenant, whether or not Tenant is negligent, provided Tenant
has effected and maintained in effect all insurance required on the
part of the Tenant hereunder. Tenant agrees that it will assume the
risk of damage to its property located on the premises. Furthermore,
Tenant agrees, at its own cost and expense, to keep and maintain at all
times in full force and effect during the term of this Lease a policy
or policies of public liability insurance covering the premises and
adjoining driveway and parking areas and Tenant's activities therein
and thereon against claims for personal injury and death in an amount
of not less than Five Hundred Thousand Dollars ($500,000.00) for injury
or death of any one person. One Million Dollars ($1,000,000.00) for
injury or death of all persons in any one accident, and Five Hundred
Thousand Dollars ($500,000.00) property damages, and wherein Landlord
is named as a co-insured. Tenant shall furnish to Landlord a
certificate of insurance evidencing the fact that the said public
liability and property damage insurance has been obtained and in full
force and effect.
The parties waive all rights of subrogation and release each
other from any claims for damage to the premises and the warehouse
structure and other improvements in which the premises are located, and
to the fixtures, personal property, Tenant's improvements, and
alterations of either Landlord or Tenant in or on the premises and the
warehouse structure and other improvements in which the premises are
located that are caused by or result from risks insured against under
any fire and extended insurance policy carried by the parties and in
force at the time of any such damage. If obtainable, each party shall
cause each fire and extended coverage insurance policy obtained by it
to provide that the insurance company waives all right of recovery by
way of subrogation against either party in connection with any damage
covered by any such policy. Neither party shall be liable to the other
for any damage caused by fire or any of the risks insured against under
any fire and extended coverage insurance policy required by this Lease.
(24)
WAIVER OF SUBROGATION Anything in this lease to the contrary
notwithstanding, Landlord and Tenant each hereby waives any and all
rights of recovery, claim, action or cause of action, against the
other, its agents, officers, or employees, for any loss or damage that
may occur to the leased premises, or any improvements thereto, or said
building of which the leased premises are a part, or any improvements
thereto, or any personal property of such party therein, by reason of
fire, the elements, or any other cause which could be insured against
under the terms of standard fire and extended coverage insurance
policies. Referred to in Article , Paragraph hereof,
regardless of cause or origin, including negligence of the other party
hereto, its agents, officers or employees, and covenants that no
insurer shall hold any right of subrogation against such other party.
(25)
Waiver of Subrogation
Landlord shall cause each insurance policy carried by Landlord
insuring the Premises against loss by fire and causes covered by
standard extended coverage, and Tenant shall cause each insurance
policy carried by Tenant and insuring the Premises and its fixtures and
contents against loss by fire and causes covered by standard extended
coverage, to be written in a manner so as to provide that the insurance
company waives all right of recovery by way of subrogation against
Landlord or Tenant in connection with any loss or damage covered by any
such policies. Neither party shall be liable to the other for any loss
or damage caused by fire or any of the risks enumerated in standard ex-
tended coverage insurance. If the release of either Landlord or Ten-
ant, as set forth in the second sentence of this paragraph, shall con-
travene any law with respect to exculpatory agreements, the liability
of the party in question shall be deemed not released but shall be
deemed secondary to the latter's insurer.
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