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<br />Page | 22 <br />9138-126780\1512539.3 <br />the loss or collection of the proceeds, (ii) any reasonable costs incurred by Tenant in connection with <br />the Premises after the damage or destruction, which costs are eligible for reimbursement from such <br />insurance proceeds, and (iii) the proceeds of any rental loss or business interruption insurance <br />applicable prior to the date of surrender of the Premises to the Lessor. <br />ARTICLE VIII <br />INSURANCE AND INDEMNITY <br /> <br />8.1 Tenant's Required Insurance. <br />8.1.1. Tenant agrees to purchase all required insurance at Tenant's expense and to <br />deposit with Lessor certificates of insurance, including all endorsements required herein, necessary to <br />satisfy Lessor that the insurance provisions of this Lease have been complied with and to keep such <br />insurance coverage and the certificates and endorsements therefore on deposit with Lessor during the <br />entire term of this Lease. <br />8.1.2. Tenant agrees that it shall not operate on the Premises at any time the <br />required insurance is not in full force and effect as evidenced by a certificate of insurance and <br />necessary endorsements or, in the interim, an official binder being in the possession of Lessor; rent <br />however shall not be suspended. In no cases shall assurances by Tenant, its employees, agents, <br />including any insurance agent, be construed as adequate evidence of insurance. Lessor will only <br />accept valid certificates of insurance and endorsements, or in the interim, an insurance binder as <br />adequate evidence of insurance. Tenant also agrees that upon cancellation, termination, or expiration <br />of Tenant's insurance, Lessor may take whatever steps are necessary to interrupt any operation from <br />or on the Premises until such time as the Lessor reinstates the Lease. <br />8.1.3. If Tenant fails to provide Lessor with a valid certificate of insurance and <br />endorsements, or binder at any time during the term of the Lease. Whether or not a notice of default <br />has or has not been sent to Tenant, said material breach shall permit Lessor to take whatever steps are <br />necessary to interrupt any operation from or on the Premises, and to prevent any persons, including, <br />but not limited to, members of the general public, and Tenant's employees and agents, from entering <br />the Premises until such time as the Lessor is provided with adequate evidence of insurance required <br />herein. Tenant further agrees to hold harmless for any damages resulting from such interruption of <br />business and possession, including, but not limited to, damages resulting from any loss of income or <br />business resulting from Lessor’s action(s). <br />8.1.4. All contractors and subcontractors performing work on behalf of Tenant <br />pursuant to this Lease shall obtain insurance subject to the same terms and conditions as set forth <br />herein for Tenant and limits of insurance as described in Section 8.1.6 (e), Section 8.1.6 (f) and <br />Section 8.1.6 (g). Tenant shall not allow contractors or subcontractors to work if contractors have <br />less than the level of coverage required by under this Lease. It is the obligation of the Tenant to <br />provide written notice of the insurance requirements to every contractor and to receive proof of <br />insurance prior to allowing any contractor to begin work within the Premises. Such proof of <br />insurance must be maintained by Tenant through the entirety of this Lease and be available for <br />inspection by Lessor at any reasonable time. <br />8.1.5. All self-insured retentions (SIRs) shall be clearly stated on the Certificate of <br />Insurance. Any self-insured retention (SIR) in an amount in excess of Fifty Thousand Dollars <br />($50,000) shall specifically be approved by the Risk Manager, or designee, upon review of Tenant’s <br />EXHIBIT 5