Reso 2024-3660 - Laserfiche WebLink

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g. LESSOR does not in any way represent that the types and amounts of insurance required hereunder are sufficient or adequate to protect LESSEE's or contractor's interests or liabilities but are merely minimum requirements established by LESSOR's Risk Management Division. h. Any and all net insurance proceeds received by or on account of LESSEE under the Lease shall be deposited LESSEE, and said funds shall be exclusively used for the purpose of reconstruction or repair, as the case may be, of any of the structures, improvements or fixtures located within the Leased Premises so damaged or destroyed. Such reconstruction and repair work shall be done in strict conformity with all applicable building and zoning codes and regulations or standards promulgated by any governmental agency having subject matter jurisdiction. Should the costs of regulations or repair exceed the amount of funds available from the proceeds of such insurance policy, then, and in such event, such funds shall be used as far as the same will permit in paying the costs of reconstruction or repair. 23. Waiver of Subrogation for General Liability, Workers Compensation, Business Automobile, and Umbrella Policies. Each of the parties, LESSOR and LESSEE, hereby releases the other from any and all liability or responsibility to the other or anyone claiming through or under them by way of subrogation or otherwise for any loss or damage to property caused by fire or any other perils insured in policies of insurance for any loss or damage to property caused by fault or negligence covering such property, even if such loss or damage shall have been caused by the fault or negligence of the other party, or anyone for which such party may be responsible, including any other licensees or occupants of the Leased Premises; provided however, that this release shall be applicable and in force and effect only to the extent that such release shall be lawful at the time and in any event only with respect to loss or damage occurring during such time as the releaser's policies shall contain a clause or endorsement to the effect that any such release shall not adversely affect or impair said policies or prejudice the right of the releaser to coverage thereunder and then only to the extent of the insurance proceeds payable under such policies. Each of LESSOR and LESSEE agrees that it will request its insurance carriers to include in its policies such a clause or endorsement. If extra costs shall be charged therefore, each party shall advise the other thereof and of the amount of the extra cost and the other party, at its election, may pay the same, but shall not be obligated to do so. 24. Dispossession on Default; Notice and Opportunity to Cure. a. If LESSEE defaults in the performance of any covenant or condition of this Lease, LESSOR may give LESSEE written notice of that default with sufficient specificity to allow LESSEE to identify the default. If LESSEE fails to cure a default in payment of rent or additional rent within twenty (20) days after written notice is given, LESSOR may terminate this Lease. For defaults other than nonpayment of rent or additional rent, LESSEE shall cure such E