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SRK ENGINEERING, INC.,
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Last modified
4/12/2019 8:24:41 AM
Creation date
4/11/2019 1:53:21 PM
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Contracts
Company Name
SRK ENGINEERING, INC.,
Contract #
A-2019-030
Agency
PUBLIC WORKS
Council Approval Date
2/19/2019
Expiration Date
2/19/2020
Insurance Exp Date
1/1/1900
Destruction Year
2025
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e. Interruption of Business Insurance. Tenant shall, at its sole cost and <br />expense, maintain business interruption insurance by which the minimum monthly rent will be <br />paid to Landlord for a period of up to (1) year if the premises are destroyed or rendered <br />inaccessible by a risk insured against by a policy of standard fire and extended coverage <br />insurance, with vandalism and malicious mischief endorsements. <br />f. The following requirements apply to the insurance to be provided by <br />Tenant pursuant to this section: <br />i. If the Tenant maintains broader coverage and/or higher limits than the <br />minimums shown above, the Landlord shall be entitled to the broader <br />coverage and/or higher limits maintained by the Tenant. Any available <br />insurance proceeds in excess of the specified minimum limits of Insurance <br />and coverage shall be available to the Landlord. <br />ii. Tenant shall maintain all insurance required above in full force and effect <br />for the entire period covered by this Agreement. <br />iii. Certificates of insurance shall be furnished to the Landlord upon execution <br />of this Agreement. <br />iv. Certificates and policies shall state that the policies shall not be cancelled <br />or reduced in coverage or changed in any other material aspect without <br />thirty (30) days prior written notice to the City, except for 10 days' notice <br />for non-payment of premium. <br />V. If Tenant fails or refuses to produce or maintain the insurance required by <br />this section or fails or refuses to furnish the Landlord with required proof <br />that insurance has been procured and is in force and paid for, the Landlord <br />shall have the right, at the Landlord's election, to forthwith terminate this <br />Agreement as provided herein. <br />18, DAMAGE BY CASUALTY <br />(a) In the event of a fire or other casualty in the Premises, Tenant shall <br />immediately give notice thereof to Landlord. <br />(b) If the Premises, through no fault of Tenant, its agents, employees, invitees, <br />or visitors, shall be partially destroyed by fire or other casualty so as to render the <br />Premises untenantable as reasonably determined by Landlord, /tent shall abate in <br />proportion to the percentage of square footage of the Premises rendered unusable until <br />such time as the Premises are made tenantable as reasonably determined by Landlord. The <br />entire Premises shall be made tenantable by Landlord's diligent repair within sixty (60) <br />days following the fire or casualty incident. <br />(c) Except where Landlord is not obligated to repair or rebuild the Building or <br />the Premises, Landlord will use due diligence to repair or rebuild the same (except that <br />Landlord will have no obligation to repair or replace any alteration, addition, or <br />
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