Fillable Standard Commercial Lease Template (Page 3 of 15) in pdf

Standard Commercial Lease Template Page 3

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INSURANCE: The following provisions shall apply:

8.1. LESSOR shall obtain "All Risk" Property Insurance on the Property,

including fixtures and non-removable tenant improvements in such amount as LESSOR deems

sufficient. LESSEE shall cooperate with LESSOR so that the lowest insurance rating can be

obtained. Accordingly, LESSEE shall fully cooperate with the insurance carrier in implementing

any measures of complying with any requirements the carrier may have. All costs of such

measures or compliance shall be borne by LESSEE. If the insurance rates published by the

Insurance Service Office of the State of Missouri are increased as the result of any activities or

hazards introduced by LESSEE, then LESSEE shall pay the amount by which the insurance

premiums are increased because of such activities or hazards.

8.2. The "All Risk" Property Insurance premiums on the Property during the

calendar year [

] ("Base Year") will total $

. LESSEE agrees to pay as

additional rent all amounts by which the insurance premiums may exceed, for whatever reason,

this amount in future years during the term of this Lease. If LESSOR receives an insurance

premium bill for an amount exceeding the amount stated above, LESSOR shall forward a copy

of the bill to LESSEE, together with a letter stating the amount of the excess, and within ten (10)

days of its receipt of the bill and letter, LESSEE shall pay the applicable excess amount to

LESSOR.

8.3. At its sole cost and expense, LESSEE shall purchase and maintain

commercial general liability insurance on the Premises, including a property damage provision,

insuring against liability for injury to persons or property occurring on or about the Premises or

arising out of the ownership, maintenance, use or occupancy of the Premises. The insurance

shall be in an amount not less than

Dollars ($

)

combined single limit per occurrence, and a general policy aggregate of not less than

Dollars ($

) if such aggregate applies to this policy.

8.4. All policies of liability insurance obtained now or at any future time by

LESSEE, must insure the interest of LESSOR as Additional Insured under the from of

endorsement which makes the coverage thereunder primary insurance as regards LESSOR, and

non-contributory with any other insurance carried by LESSOR, shall include a long form non-

contributory clause naming LESSOR, as well as LESSEE, as an insured. The policies shall also

provide that LESSOR be given at least thirty (30) days notice before any cancellation or material

Standard Commercial Lease Template Page 3

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