Laserfiche WebLink
whole or in part by any act or omission on the part of Lessor or any licensees, invitees, agents,servants <br /> and employees of Lessor <br /> 17. INSURANCE. <br /> a. Lessee's Insurance. Throughout the term of this Lease(and prior to any possession of the Premises <br /> by Lessee for any reason),Lessee shall be responsible for providing(a)fire and extended coverage <br /> insurance on its personal property contentsleasehold improvements,fixtures,furnishings,supplies, <br /> materials, inventory or equipment located in or on the Premises,(b)workers'compensation insurance in <br /> statutory limits(if Lessee is required to carry it under North Carolina law),(c)public liability insurance <br /> in an amount adequate to protect against liability for damage claims to the public use arising out of <br /> accidents occurring in or about the Premises, in adequate and reasonable amounts(at least <br /> $1,000,000.00)and to furnish Lessor with a certificate of insurance evidencing such coverage. Lessee <br /> agrees to name Lessor as an additional insured on said policies of liability insurance other than workers' <br /> compensation insurance and to deliver certificate(s)for said insurance to Lessor. Failure to provide <br /> such coverage and promptly deliver said certificate(s)to Lessor shall be deemed a default under the <br /> Lease. <br /> b.Lessor's Insurance. Lessor shall procure and maintain at its expense throughout the term of the <br /> Lease a policy or policies of real and personal property insurance covering the Premises(excluding <br /> Lessee's personal property),in an amount equal to the full insurable replacement cost thereof as such <br /> • may increase from time to time(but such insurance may provide for a commercially reasonable <br /> deductible),and in an amount sufficient to comply with any coinsurance requirements in such policy, <br /> and a policy of workers' compensation insurance,if any, as required by applicable law. In addition, <br /> Lessor shall procure and maintain at its expense and shall thereafter maintain throughout the term of the <br /> Lease,a commercial general liability insurance policy covering the Premises with combined single <br /> • limits for both damage to property and personal injury of not less than$1,000,000.00 per occurrence, <br /> subject to annual aggregate limits of not less than$2,000,000.00. To the'extent Lessor has agents enter <br /> the Premises,Lessor shall cause each such agent to maintain commercial general liability insurance in <br /> the same limits as Lessor's policy. <br /> c. Mutual Waiver of Subrogation. Lessor and Lessee mutually release and waive unto the other,all <br /> rights to claim damages,cost or expenses for any injuries to persons(including death)or property <br /> caused by casualty of any type whatsoever in or about the Premises, if the amount of such damages,cost <br /> or expense has been paid to such party under the terms of any policy of insurance. All insurance <br /> policies carried with respect to this Lease, if permitted underapplicable law,shall contain a provision <br /> whereby the insurer waives, prior to loss,all rights of subrogation against either Lessor or Lessee. <br /> 18. HAZARDOUS SUBSTANCES During the term.of this Lease,Lessee shall not,and shall <br /> not permit any other person or entity,to use, generate, manufacture,treat, store,transport, dispose,spill, <br /> PPA6 6118535v1 <br />