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stated above, and provided further that any umbrella or excess policy provides coverage <br />from the point that such aggregate limits in the basic policy become reduced or <br />exhausted. The tenant shall provide and insurance certificate naming the City of Ramsey <br />as an additional insured. The City of Ramsey shall receive a written notice of insurance <br />termination 30 days prior to cancellation. In addition to the above, Tenant agrees to <br />obtain environmental insurance adequate to insure the City against those potential <br />liabilities described in paragraph 13.3 above. <br />If the above insurance policy ceases to be available, or is available on terms so <br />unacceptable that prudent landlords or tenants, as the case maybe, generally do not carry <br />such insurance, then in lieu of such insurance the pertinent party may carry the most <br />comparable insurance which is available and generally carried by prudent parties. <br />15. DEFAULT: <br />15.1 Any one of the following events shall constitute an Event of Default: <br />(i) <br />Tenant shall fail to pay the annual rental rate or additional rent as <br />herein provided, and such default shall continue for a period of five <br />(5) days after the date therefore; <br />(ii) Tenant shall violate or fail to perform any of the other conditions, <br />covenants, or agreements herein made by Tenant and such default <br />shall continue for fifteen (15) days after notice from the Landlord; <br />provided, however, that if the nature of such default is such that <br />Tenant can cure the default, but not within fifteen (15) days, then the <br />Event of Default shall be suspended for a period not in excess of <br />thirty (30) additional days so long as Tenant commences cure within <br />fifteen (15) days thereafter diligently and continuously prosecutes <br />the curing of the default, and so long as continuation of the default <br />does not create material risk to the Project or to persons using the <br />Project. <br />(iii) Tenant shall file or have filed against any bankruptcy or other <br />creditor' s actions, or make an assignment for the benefit of his <br />creditors. <br />15.2 If an event of Default shall have occurred and be continuing, Landlord <br />may at its sole option by written notice to Tenant terminate this Lease. <br />Neither the passage of time after the occurrence of the Event of Default <br />nor exercise by Landlord of any other remedy with regard to such Event of <br />Default shall limit Landlord's rights under this Section 15.2 <br />15.3 If an Event of Default shall have occurred and be continuing, whether or <br />not Landlord elects to terminate this Lease, Landlord may enter upon and <br />repossess the Premises (said repossession being hereinafter referred to as <br />"Repossession") by summary proceedings, eviction action or other lawful <br />5 <br />