8G Consent 2014 0915 - Laserfiche WebLink

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I�]I�AIW (f) Additional Insurance Consideration. Other than as described in this Declaration, it is the responsibility of each Lessee to insure its personal property, fixtures, and the improvements and betterments added to its Lessee Parcel, together with additional coverage and public liability insurance that the Lessee deems appropriate, or as required by each Lessee's respective Mortgagees. (g) Insurer Standards. Except as modified by the Project Rules, all such policies of insurance shall be obtained from insurance companies approved to do business in California, and with an A.M. Best rating of Class A:VII or better In the event A.M. Best should revise its rating system, the Lessees shall select insurance companies with equivalent financial and policyholder's ratings under the rating system then being used by A.M. Best or in the event A.M. Best discontinues its rating system, insurance companies with equivalent financial and policyholder's ratings under such comparable rating system as the Lessees may select through the Project Rules. (h) Deviation from Insurance Requirements. All insurance required by this Declaration shall be obtained at reasonable premiums in light of the market for such insurance with adequate minimum limits for coverage, endorsements, and deductibles, as determined by the good faith judgment of the Joint Maintenance Committee provided, however, if the Joint Maintenance Committee determines that a type or form of insurance required pursuant to this Declaration, is not of any direct benefit to one or more Lessees, the Joint Maintenance Committee shall reduce the proportionate share of the Joint Expense Budget for the non - benefited Lessee by the amount allocated for that type or form of insurance and shall reallocate that reduced amount among the benefiting Lessees according to their relative Designated Shares; and provided, further, an Lessee may request the Joint Maintenance Committee to purchase coverage for such Lessee (or tenant(s) of such Lessee) (i) to include coverage for furniture, fixtures, equipment and improvements, and (ii) provide casualty and/or public liability insurance in addition to or excess of that required by Section 4.10(a) and (b) for such Lessee, its tenants, guests, invitees. All insurance premiums and costs resulting from such request(s) to the Joint Maintenance Committee shall be charged to and paid by the requesting Lessee as a Special Joint Expenses Assessment. Notwithstanding anything contained herein, in the event all Lessees agree to obtain one or more types of insurance enumerated in this Section 4.10 which are in excess of the minimum limits for coverage, endorsements, and deductible set forth herein, upon obtaining prior written consent of the other Lessees, the Joint Maintenance Committee shall obtain such insurance, and the premiums for such shall be a Joint Expense. 4.10 Rights of Mortgagees. (a) A Mortgagee shall be protected against Assessments levied prior to foreclosure (or deed -in -lieu) of the lender's deed of trust. In other words, no Assessment levied prior to foreclosure (or deed -in -lieu) of a lender's deed of trust shall result in liability for such lender (or another transferee through foreclosure) after the foreclosure. (b) After coming into possession of a Lessee Parcel through foreclosure or deed in lieu of foreclosure, a Mortgagee (or any party coming into ownership of the Lessee Parcel through the Mortgagee) shall be subject to all Assessments levied after the foreclosure 22