AG 1998 11 16 - Laserfiche WebLink

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insurable interest of Tenant in the Project. Before commencement of construction of the Project, Tenant shall procure and shall maintain in force until completion and acceptance of the completed improvements "all risks" builder's risk insurance, including vandalism and malicious mischief, in form and with a company reasonably acceptable to Landlord covering improvements in place and all material and equipment at the job site furnished under contract, but excluding contractor's and subcontractors' tools and equipment and property owned by the contractor's or subcontractors' employees. Throughout the Term of this Lease, Tenant, at its sole cost and expense, shall keep or cause to be kept in force, for the mutual benefit of Landlord and Tenant, comprehensive broadform general public liability insurance against claims and liability for personal injury, death or property damage arising from the use, occupancy, misuse or condition of the Demised Premises, the improvements located thereon and adjoining areas or ways, providing, at the date hereof, protection of at least One Million Dollars ($i,000,000.00) combined single limit coverage for bodily injury or property damage, together with appropriate worker's compensation insurance, in connection with any work on or about the Demised Premises, which amount of insurance coverage shall be adjusted during the term hereof to provide at all times coverage comparable to that for similar facilities in Concord, North Carolina. Tenant may, in lieu of original policies of insurance, deliver to Landlord certificates of insurance policies or endorsements duly authenticated by the issuing company. All insurance policies (except for worker's compensation coverage) shall name as insured or as additional insureds, as the case may be, Landlord, Tenant and such other persons as may be designated by Landlord and/or Tenant, as their interests may appear. All such policies shall be nonassessable and shall contain language, to the extent obtainable, to the effect that (i) any loss shall be payable notwithstanding any act or negligence of Landlord or Tenant that might otherwise result in a forfeiture of the insurance, (ii) the policies are primary and noncontributing with any insurance that may be carried by Landlord, and (iii) the policies cannot be canceled or materially changed except after ten (10) days' notice by the insured to Landlord. At the expiration of the Term and in the event Landlord elects to continue said coverage, Landlord shall reimburse Tenant pro rata for all prepaid premiums on insurance required to be maintained by Tenant, and Tenant shall assign all Tenant's right, title and 4