1988-06-17 Resolution 8 - Laserfiche WebLink

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~ assessments, if any, and maintenance and use in connection with or relating to the Facility, including but not limited to, all costs and expenses of decoration, maintenance, utility, janitorial and all other services, repair or replacement of all parts of the Facility or improvements of the Facility. Section 7. Nonliability of Authority. The Authority shall not be liable for damage caused by hidden defects or failure to keep the premises in repair and shall not be liable for any damage done or occasioned by or from plumbing, gas, water, boilers, steam or other pipes or sewage or the bursting or leaking of plumbing or heating fixtures or waste or soil pipe in connection with said premises, nor for damage occasioned by water, snow or ice. being upon sidewalks or coming through the roof, skylight, trapdoor or otherwise. The Authority shall not be liable for any injury to the Lessee or any. sublessee of the Lessee or any other person which injury occurs on, in or about the Facility howsoever arising. The Authority shall not be liable for damage to the Lessee's property or to the property of any sublessee of the. Lessee or of any other person which may be located in, upon or about said premises. Section 8. Alterations. Lessee shall have the right, without the. consent of the Authority, to make all alterations, modifications and additions and to do all remodelings and improvements it deems necessary or desirable to the Facility, which do not reduce the rental value of the Facility.. Section 9. Insurance. The Lessee, at its own expense, will, during the full term of the Lease, keep the Facility insured against physical loss or damage, however caused,~with such exceptions as are ordinarily required by insurers of buildings or facilities of a similar type, in good and responsible insurance companies acceptable to the Authority. Such insurance shall be in an amount at least equal to the greater of (i) the option to purchase price or (ii) one hundred percent (100.x) of the .full replacement cost of such Facility as certified by a registered architect, a registered engineer, or professional appraisal engineer, selected by the Authority, on the effective date of this Lease and on or before the first day of April of each year thereafter; provided that such certification shall not be required so long as the amount of such insurance .shall be in an amount at least equal to the option to purchase price. Such appraisal may be based upon a recognized index of conversion factors. In no event shall the insurance be in an amount which causes the Lessee to be a co-insurer for the Facility. Such .insurance may contain a provision for a deductible in an amount not exceeding $100,000. The Lessee agrees to pay the deductible amount of any loss to the Authority. A blanket public institutional property insurance form may be used if: (a) the insurance on the Facility is not less than the amount required by this Section, -5-