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policyholder rating of A or better and a financial rating of"VIII" or better. All insurance <br /> policies required to be carried by either Party shall be effected under standard form policies. <br /> Such insurance shall provide that the same may not be canceled without thirty(30)days prior <br /> written notice to the other Owner. The Owners shall each provide to the other Owner certificates <br /> evidencing the fact that such insurance has been obtained. Additionally,upon the request of <br /> either Owner, and provided that such request shall be commercially reasonable taking into <br /> account the standard practices at comparable properties in the area and if economically feasible <br /> for other Owner as reasonably determined by the other Owner,the other Owner shall increase the <br /> limits of insurance carried by it hereunder, and shall carry types of insurance in addition to those <br /> required hereunder,to the extent such additional types of coverage first become standard at <br /> comparable properties after the date hereof. No Owner shall carry any insurance concurrent in <br /> coverage and contributing in the event of loss with any insurance required to be furnished by the <br /> other Owner if the effect of such separate insurance would be to reduce the coverage of,or <br /> recovery available under,the other Owner's insurance. <br /> 9.3 Property Insurance. <br /> (i) At all times during its ownership of a Parcel, each Owner shall maintain or <br /> cause their respective Lessees to maintain"all risks"property insurance (or its equivalent) <br /> covering all improvements located on such Owner's Parcel in a minimum amount equal to 100% <br /> of the reasonable replacement cost thereof. <br /> (ii) Property Insurance Requirements. All property insurance policies shall <br /> contain a severability of interests clause. All insurance coverage required to be carried under this <br /> Section 9.3 shall be carried with insurance companies that are (i) licensed to do business in <br /> California and(ii)rated in the then-most current Best's Insurance Guide (or any successor <br /> thereto) as having a general policyholder rating of A or better and a financial rating of"VIII" or <br /> better. All insurance policies required to be carried by either Owner shall be effected under <br /> standard form policies. Such insurance shall provide that the same may not be canceled without <br /> thirty (30) days prior written notice to the Owner. The Owners shall each provide to the other <br /> certificates evidencing the fact that such insurance has been obtained. Additionally,upon the <br /> request of either Owner, and provided that such request shall be commercially reasonable taking <br /> into account the standard practices at comparable properties in the area and if economically <br /> feasible for other Owner as reasonably determined by the other Owner,the other Owner shall <br /> increase the limits of insurance carried by it hereunder, and shall carry types of insurance in <br /> addition to those required hereunder,to the extent such additional types of coverage first become <br /> standard at comparable properties after the date hereof <br /> (iii) Waiver. Each Owner hereby waives, and releases the other Owner from, <br /> any and all claims, liabilities, and rights of action with respect to any property loss caused by the <br /> other Owner which is covered by the property insurance required to be maintained by the first <br /> Owner. Each Owner hereby agrees that any property insurance maintained by it shall contain a <br /> waiver by the insurer of any and all rights of subrogation against the other Owner. <br /> 4/23/13 10 <br />