Agenda - Council - 06/10/1997 - Laserfiche WebLink

Home

I I I I I I I I I I I I I I I I I I I L~A~UE OF MN Clllg5 ~.li/lo Tenant will maintain Completed Operations coverage for a minimum of two years after the construction is completed. (c) Automobile Liabili_w. The Tenant must carry Automobile Liability coverage. Coverage shall afford total liability limits for Bodily Injury Liability and Property Damage Liability in the amount of $1,000,000 per accident. The liability limits may be afforded under the Commercial Policy, or in combination with an Umtorella or Excess Liability PoIicy provided coverage of ridges afforded by the Umbrella E×eess Policy are no less than the underlying Commercial Auto Liability coverage. Coverage shall be provided for Bodily Injury and Property Damage for the ownership, use, maintenance or operation of all o.wned, non-owned and hired automobiles. The Commercial Automobile Policy shall include at least statutory personal injury protection, uninsured motorists and underinsu.red motorists coverages. (d) Tenant Property Insurance. The Tenant must keep in force during the term and any renewals of the Lease a policy coveting damages to its property at the Leased Premises. The amount of coverage shall be sufficient to replace the damaged property, loss of use and comply with any ordinance or law requirements. (e) Hazardou.~ Materials Coverage. Tenant must carry sufficient coverage, to the reasonable satisfaction of Landlord, for damage caused by Hazardous Maerials. (f) Adju~ment to lnsur~mee_Cover, age Limit.s.. The coverage limits set forth herein shall be increased at %he time of any Renewal Term by the greater of the Consumer Price Index as calculated under Paragraph 2(a) or 25%. (g) Ad.ditional Ins~ze_d - Certificate of Jnsuran.ee. The Tenant shall provide, prior to tenancy, evidence of the required insurance in the form cfa Certificate of Insurance issued by a company (rated A+ or better) by Best Insurance Guide, licensed to do business in the state of Minnesota, which includes all coverages required in this Paragraph 1 I. Tenant will name Landlord as an Additional Insured on %he General Liability and Commercial Automobile Liability Policies. The Certificate(s) shall also provide the coverage may not be canceled, non-renewed, or maerially changed without thirty (30) days prior written notice to Land]ord. 12. Dam_%~e or Destruetig~. If thc Leased Premises is des~oyed or damaged, without contributor3' fault of the Tenant or its agents, so ~s, in Tenant's judgment, to hinder its effective use of the Antenna Facilities, Tenant may elect to terminate this Lease upon 30 days' wrinen notice to Landlord. In the event Tenant elects to terminate the Lease, Tenant shall be entitled to reimbursement of prepaid rent covering the period subsequent to the date of damage to or destruction of the Leased Premises.