Fillable Standard Commercial Lease Template (Page 4 of 15) in pdf

Standard Commercial Lease Template Page 4

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modification of the policy.

8.5. Upon request, LESSEE shall furnish to LESSOR Certificates of Insurance

evidencing the insurance coverage required by these provisions, and providing that LESSOR

shall receive 30 days' notice of cancellation or material change in coverage. Upon reasonable

request, LESSEE shall furnish LESSOR with a copy of the premium bill and evidence of

payment.

8.6. In the event of casualty damage to the Premises, and if LESSOR is carrying

the "All Risk" Property Insurance, LESSEE shall promptly report the damage to LESSOR and

LESSOR shall make whatever claim against the insurance company that LESSOR deems

advisable. LESSEE shall cooperate in connection with the claim. In the event of either damage to

the Premises by casualty or an assertion of liability, or if LESSEE is carrying the applicable

insurance policy, LESSEE shall promptly report the same to the applicable insurance company

and make a claim for insurance proceeds, delivering to LESSOR a copy of the claim. Any

insurance proceeds shall be applied to the rebuilding or repair of the property, with any excess

paid to LESSOR or disbursed as LESSOR deems appropriate.

LIENS AND ENCUMBRANCES: This Lease shall be subject and subordinate

to any present or future mortgages, deeds of trust, and other liens or encumbrances executed or

consented to by LESSOR, which do not materially adversely affect LESSEE'S use of the

Premises. The holder of any such mortgage, deed of trust, lien or encumbrance may notify

LESSEE in writing of its interest, and in such event LESSEE shall send copies of all notices or

communications regarding this Lease to the holder of the mortgage, deed of trust, lien or

encumbrance. Such holder shall be entitled to take any action or exercise any rights reserved to

LESSOR under this Lease. LESSEE shall, within ten (10) days after receipt of a request

therefor, execute and deliver to LESSOR and the holder of such a mortgage, deed of trust, lien or

other encumbrance, an estoppel certificate and/or agreement evidencing the subordination of this

Lease as described above, which estoppel certificate and/or agreement shall be in form

satisfactory to LESSOR and such holder.

9.1. LESSEE shall not encumber or permit the encumbrance of the Premises or

this leasehold estate by any mortgage, deed of trust, assignment, security interest, lien or other

charge, without LESSOR'S prior written consent, which consent shall not be unreasonably

withheld.

Standard Commercial Lease Template Page 4

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