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SERCO, INC. (3)
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SERCO, INC. (3)
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Last modified
7/3/2019 3:31:59 PM
Creation date
7/3/2019 3:27:16 PM
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Contracts
Company Name
SERCO, INC.
Contract #
N-2019-118
Agency
Public Works
Expiration Date
6/30/2020
Insurance Exp Date
1/1/1900
Destruction Year
2025
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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, Rent shall abate in <br />proportion to the percentageofsquare footage of the Promises 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 />improvements to the Premises other than the Tenant Improvements installed at Landlord's <br />expense which will be repaired only to the level of Building Standard Improvements). <br />(d) In the event of (i) the total destruction of the Premises, (ii) the partial <br />destruction of the Premises or the Building where the same'is so damaged that it cannot, in <br />Landlord's reasonable opinion, be repaired within sixty (60) days of the occurrence of <br />such damage, or (III) damage or destruction as a result of any casualty for which insurance <br />proceeds are not available to pay 100% of the cost of repair or rebuilding, Landlord will <br />have no obligation to repair or rebuild the Premises or the Building. Landlord will make <br />its determination whether to repair or rebuild within sixty (60) days of the occurrence of <br />such damage or destruction. Upon notification to Tenant of Landlord's decision not to <br />repair or rebuild, this Lease shall terminate. In such an event, Tenant shall be reimbursed <br />
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