|
property in addition to the Overall Parcel which is the subject of this Agreement; provided that the
<br />insurer shall provide a schedule to each Party showing that the coverage provided by such policy
<br />shall (a) meet the requirements of this Agreement; (b) not be reduced by any claims made with
<br />respect to other properties; and (c) be in such amount as will preclude the insureds from being
<br />held to be co-insurers. The policies shall name Aldi and City as additional insureds (as their
<br />interests may appear) and shall provide that they may not be canceled without 30 days' prior
<br />written notice to both insureds. Upon request, each Party shall provide to the other a certificate of
<br />insurance evidencing such coverage. Notwithstanding the foregoing provisions hereof to the
<br />contrary, Aldi (or the entity that owns a controlling interest of Aldi, if self -insuring on Aldi's behalf)
<br />shall have the right to self -insure for the risks described in this Section 4.01.
<br />4.02. Indemnification.
<br />(a) B Cit . Except for injuries, deaths, losses, damages, or other matters resulting
<br />from the acts or omissions of Aldi or of Aldi's agents, employees, servants, contractors and
<br />licensees, City shall indemnify Aldi and save it harmless from and against all loss, liability,
<br />damage, actions, causes of action, or claims for injury, death, loss or damage of whatever nature
<br />to any person, property or business interest caused by or resulting from an act or omission of City
<br />or of City's agents, employees, servants, contractors or licensees arising out of City's use and
<br />occupancy of the City Property, and from and against any and all costs, expenses or liabilities
<br />(including reasonable fees of attorneys, paralegals, experts, court reporters and others) incurred
<br />by Aldi in connection with any claim, action or proceeding in respect of any such loss, liability,
<br />damage or claim.
<br />(b) B Aldi. Except for injuries, deaths, losses, damages, or other matters resulting
<br />from the acts or omissions of City or of City's agents, employees, servants, contractors and
<br />licensees, Aldi shall indemnify City and save it harmless from and against all loss, liability,
<br />damage, actions, causes of action, or claims for injury, death, loss or damage of whatever nature
<br />to any person, property or business interest caused by or resulting from an act or omission of Aldi
<br />or of Aldi's agents, employees, servants, contractors or licensees arising out of Aldi's use and
<br />occupancy of the Aldi Property, and from and against any and all costs, expenses or liabilities
<br />(including reasonable fees of attorneys, paralegals, experts, court reporters and others) incurred
<br />by City in connection with any claim, action or proceeding in respect of any such loss, liability,
<br />damage or claim.
<br />ARTICLE V
<br />Damage and Destruction
<br />5.01. The Aldi Improvements. In the event the improvements on the Aldi Property (the
<br />"Aldi Improvements") are either destroyed or damaged by fire, flood, earthquake, or other
<br />casualty, Aldi shall have no obligation, under this Agreement, to repair, rebuild or restore the Aldi
<br />Improvements. However, if Aldi elects to repair, rebuild or restore the Aldi Improvements after
<br />any such damage or destruction, all construction activities undertaken in connection therewith
<br />shall be conducted so as to minimize interference with City's use of its Property and the rights
<br />granted to it under this Agreement. If Aldi elects not to repair, rebuild or restore the Aldi
<br />Improvements after any such damage or destruction, Aldi shall raze the damaged improvements
<br />and either pave or seed and maintain such area and the easements granted to City pursuant to
<br />Article I hereof shall continue in full force and effect.
<br />61
<br />
|