06-10-2024 CC Agenda Packet - Laserfiche WebLink

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b) General Liabilitv. The Tenant must maintain an occurrence form comprehensive general liability coverage. Such coverage shall include, but not be limited to, bodily injury, property damage --broad form, and personal injury, for the hazards of Premises/Operation, broad form contractual and independent contractors, The Tenant must maintain aforementioned general liability coverage with limits of liability not less than $1,000,000 each occurrence; $1,000,000 personal; $2,000.000 general aggregate, and $2,000,000 products and completed operations aggregate and an umbrella policy of $5,000,000.00. These limits may be satisfied by the general liability coverage or in combination with an umbrella or excess liability policy, provided coverages afforded by the umbrella or excess policy are no less than the underlying general liability coverages. Tenant will maintain Completed Operations coverage for a minimum of two years after the construction is completed. c) Automobile Liabilitv. The Tenant must cant' Automobile Liability coverage. Coverage shall afford total liability limits for Bodily Injury Liability and Property Damage Liability in the amount of $1,000,000 per accident. The liability limits may be afforded under the Commercial Policy, or in combination with an Umbrella or Excess Liability Policy provided coverages afforded by the Umbrella Excess Policy are no less than the underlying Commercial Auto Liability coverage. Coverage shall be provided for Bodily Injury and Property Damage for the ownership, use, maintenance or operation of all owned, non -owned and hired automobiles. The Commercial Automobile Policy shall include at least statutory personal injury protection, uninsured motorists and underinsured motorists coverages. d) Tenant Property Insurance. The Tenant must keep in force during the term and any renewals of the Lease a policy covering damages to its property at the Premises. Failure to maintain the insurance as listed above will result in immediate termination of the Lease, and Tenant will be liable to the Landlord for 150% of the annual rent as called for in Paragraph 13 (c). The amount of coverage shall be not less than 90% of the full re lacement cost of the Communications Facility. Wts St".i hence. eypl eS h all 1n5uranceg in petre gr.-y/ e) Additional Insured - Certificate of Insurance. The Tenant shall provide, prior installation of the Communications Facility, evidence of the required insurance in the form of a Certificate of Insurance issued by a company authorized to do business in the state of Minnesota, which includes all coverages required in this Paragraph 11. Tenant will list Landlord as an Additional Insured on the General Liability and Commercial Automobile Liability Policies. The Certificate(s) shall also provide the coverage may not be canceled, non -renewed, or materially changed without thirty (30) days prior written notice to Landlord. Tenant may self -insure provided Tenant demonstrates financial capability, sufficient to meet any claims, equivalent to an insurance company rated A- or 8 121076599x2 752031 57