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Form51.16 (Rev. 10/14) <br />Page 26 of 35 <br />property damage insurance, with such coverage and limits as specified in Section 1 or as <br />may be reasonably requested by Lessor from time to time, but in no event for less than the <br />sum(s) specified against any and all claims or liability arising out of the ownership, use, <br />occupancy, condition, or maintenance of the Lease Premises and all Improvements. If <br />Commercial General Liability Insurance and umbrella coverage or other form with a <br />general aggregate limit is used, either the general aggregate limit shall apply separately to <br />this project/location or the general aggregate limit including umbrella coverage shall be <br />twice the required occurrence limit. <br />(b) The insurance policy shall identify the Lease by its assigned number. The specific <br />Improvements shall also be generally identified, as well as their location on city owned <br />property. The coverage provided shall be primary and non-contributing. Lessee shall <br />keep such policy current. Lessor shall be named as an “additional insured” on the policy. <br />The insurance policies shall waive all rights of subrogation against the City and its officers, <br />officials, employees, and volunteers for loss arising in connection with this Lease. Lessee <br />shall provide Lessor with a current certificate of insurance at all times. At Lessor’s request, <br />Lessee shall provide a full copy of the current insurance policy, along with any and all <br />endorsements or other such documents affecting the coverage. Lessor will not be <br />responsible for any premiums or other assessments on the policy. In the event that any <br />policy provided under this Lease includes a self-insured retention that includes a <br />requirement that such retention be paid by the named insured, such policy shall be <br />modified by endorsement to permit payment of the retention by additional insureds. <br />(c)The insurance coverage specified in this Lease shall be in effect at all times during the <br />Lease term and subsequently until Lessor has either accepted all of the Lease Premises as <br />improved or restored by Lessee as provided elsewhere in this Lease. Lessee shall notify <br />Lessor within five (5) business days if the insurance is canceled for any reason. <br />(d)Notwithstanding the Insurance Amounts specified in Section 1 “Basic Provisions,” <br />Lessor may, at its option, elect to establish new Insurance Requirements no more <br />frequently than every five (5) years during the term of this Lease. Lessor shall provide <br />notice to Lessee in writing of such increased insurance amounts and Lessee shall have six <br />(6) months to provide Lessor with confirmation that such increased insurance coverage <br />has been obtained. In the event that Lessee is unable to obtain the required increased <br />insurance, Lessee shall provide evidence acceptable to Lessor that such insurance <br />amounts are not commercially available. If Lessee fails to obtain increased insurance <br />amounts and fails to provide Lessor with evidence acceptable to Lessor that such <br />increased insurance coverage is not commercially available, then Lessor may elect to <br />terminate this Lease upon thirty (30) days’ notice. <br />10.SURETY BOND <br />DocuSign Envelope ID: 8D8CF2E2-DF6D-4A11-B610-2B1544DD7C30