Housing Consortium of the East Bay Ground Lease 20231030

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23 or entity (i) that possesses the experience and qualifications necessary for the proper performance of Lessee’s obligations under this Ground Lease following completion of the Project, and (ii) that possesses the financial resources typical of owners of similar projects. Section 7.2 Permitted Transfer by Lessee. (a) Notwithstanding the foregoing, Lessor consents to the following ("Permitted Transfers"): (1) a transfer to an entity which is under the direct control of Lessee or under common control with the Lessee, or in which Lessee is the sole member or partner of the transferee entity, and that does not change management or operational control of Lessee or the Project; (2) the lease or license of the residential units consistent with this Ground Lease, the Regulatory Agreement and the Project Homekey Agreement. ARTICLE 8. INSURANCE Section 8.1 Required Insurance Coverage. Lessee shall during the Lease Term maintain the following policies of insurance: (a) Liability and Property Damage Insurance. During the Lease Term, Lessee shall keep in full force and effect a policy or policies of comprehensive general liability and property damage insurance against liability for bodily injury to or death of any person or property damage arising out of an occurrence on or about the Leased Premises. The limits of such insurance shall be not less than One Million Dollars ($1,000,000) combined single limit each occurrence, Two Million Dollars ($2,000,000) annual aggregate, together with Three Million Dollars ($3,000,000) excess liability coverage, or such other policy limits as Lessor may require in its reasonable discretion, including coverage for bodily injury, property damage, products, completed operations and contractual liability coverage. Such policy or policies shall be written on an occurrence basis and shall name the Indemnitees as additional insureds. (b) Workers' Compensation Insurance. Lessee shall carry or cause to be carried workers' compensation insurance covering all persons employed in connection with the Leased Premises and with respect to whom death, bodily injury, or sickness insurance claims could be asserted against Lessor and/or Lessee. Lessee shall furnish or cause to be furnished to Lessor evidence satisfactory to Lessor that Lessee and any contractor that has contracted for the performance of work on the Leased Premises or otherwise pursuant to this Ground Lease carries statutory Workers' Compensation insurance and Employer's Liability insurance in a minimum amount of One Million Dollars ($1,000,000) per accident. (c) Builders' Risk Insurance. Upon commencement of construction and continuing until issuance of a temporary certificate of occupancy, or equivalent for the Improvements, Lessee and all contractors working on behalf of Lessee shall maintain a policy of builder's all-risk insurance in an amount not less than the full insurable cost of the Project on a DocuSign Envelope ID: 6E2EA799-6D74-41E3-B3EE-3CD67DC0ACD0