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SANTA ANA HISTORICAL PRESERVATION SOCIETY (3)
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SANTA ANA HISTORICAL PRESERVATION SOCIETY (3)
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12/13/2021 11:32:33 AM
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Contracts
Company Name
SANTA ANA HISTORICAL PRESERVATION SOCIETY
Contract #
A-1996-016
Agency
Community Development
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(b) Liability Insurance <br />LESSEE at its sole cost and expense shall maintain during the <br />term of this Lease bodily injury and property damage insurance with <br />a single combined liability limit of one million dollars ($1,000,- <br />000.00) dollars, insuring against all liability of LESSEE and its <br />authorized representatives arising out of or in connection with <br />LESSEE's use or occupancy of the demised premises. Such insurance <br />shall insure performance by LESSEE of the indemnity provisions in <br />Section 21 of this Agreement, but the limits of such insurance <br />shall not, however, limit the liability of LESSEE thereunder. The <br />City of Santa Ana, and its officers, agents and employees shall be <br />named as an additional insureds. LESSEE shall (a) furnish properly <br />executed certificates of insurance to LESSOR prior to the Commence- <br />ment Date, which certificates shall clearly evidence all coverages <br />required above and provide that such insurance shall not be <br />materially changed or terminated except on 30 days' prior written <br />notice to the LESSOR; and (b) maintain such insurance throughout <br />the term of the lease of the Premises to LESSEE; and (c) replace <br />such certificates for policies expiring prior to the expiration or <br />other termination of such lease. If LESSEE shall fail to procure <br />and maintain such insurance, the LESSOR may but shall not be <br />required to procure and maintain same at the expense of LESSEE. <br />(c) Waiver of Subrogation. <br />LESSEE and LESSOR each waive any and all rights of recovery <br />against the other or against the officers, employees, agents, and <br />representatives of the other for loss of or damage to such waiving <br />party or its property or the property of others under its control, <br />where such loss or damage is insured against under any insurance <br />policy in force at the time of such loss or damage. Each party <br />shall cause each insurance policy obtained by it hereunder to <br />provide that the insurance company waives all right of recovery by <br />way of subrogation against either party in connection with any <br />damage covered by any such policy. <br />5. Damage or Destruction <br />(a) If during the term of this Lease the demised premises is <br />partially damaged, but the demised premises remain historically <br />valuable, and such damage was caused by a casualty covered to the <br />extent of one hundred percent (100%) of full replacement value <br />under the insurance policy required to be maintained pursuant to <br />Section 4 of this Lease, LESSOR shall restore the demised premises <br />into substantially the same condition as they were in immediately <br />before such damage or destruction, if the restoration can be <br />completed within one hundred eighty (180) calendar days after the <br />restoration begins, and in such event such destruction or damage <br />shall not terminate this Lease. <br />3 <br />
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