Lessor’s Insurance Lessor covenants and agrees that throughout the Term it will insure the Building against damage by fire and standard extended coverage perils and public liability insurance in such reasonable amounts with such reasonable deductibles as required by any mortgagee or ground lessor, or if none, as would be carried by a prudent owner of a similar building in the area. ☐ Tenant is NOT required to obtain a renter’s insurance policy.Ĭontractor’s Insurance 27.1 The Contractor shall procure and maintain at all times it performs any portion of the Services the following insurance with minimum limits equal to the amount indicated below.įDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category. Tenant will provide Landlord with a certificate or proof of insurance upon request. Tenant will name Landlord as an interested party or additional insured. Renter’s Insurance (check one) ☐ Tenant is required to obtain, and maintain at all times during the Term, a renter’s insurance policy with a minimum of $100,000.00 personal liability coverage. Manager’s Insurance Manager shall, on its own behalf and at its sole - cost and expense, procure and maintain in force during the term of this Agreement policies in the following categories in the amount indicated: All policies shall provide for 30 days' written notice to Manager and Owner prior to cancellation, non-renewal or material amendment. A certificate of each policy issued by the carrier shall be delivered promptly to Manager by Owner. In each such policy of insurance, Owner shall designate Manager as a party insured with Owner and the carrier and the amount of coverage in each policy shall be mutually agreed upon by Owner and Manager. Owner’s Insurance Owner agrees to carry public liability, elevator liability and contractual liability insurance (specifically insuring the indemnity provisions contained in Section 10.1 above), and such other insurance as the parties agree to be necessary or desirable for the protection of the interests of Owner and Manager, which may be provided through an umbrella policy.
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