Setting a Public Hearing on a Lease for the Construction and Equipping of a Fire Stattion, a Fire Safety Traning Facility

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insurance, insuring the Lessee, the Lessor, and the Trustee in amounts customarily carried for similar properties. Such public liability and property damage insurance may be provided under the public liability self - insurance program of Lessee. During the full term of this Lease, Lessee will also, at its own expense, maintain rent or rental value insurance in an amount equal to the full rental value of the Projects for a period of two (2) years against physical loss or damage of the type insured against pursuant to the preceding requirements of this clause. Such policies shall be for the benefit of persons having an insurable interest in the demised premises, and shall be made payable to the Lessor or to such other person or persons as the Lessor may designate. Such policies shall be countersigned by an agent of the insurer who is a resident of the State of Indiana, and such policies, together with a certificate of the insurance commissioner certifying that the persons countersigning such policies are duly qualified in the State of Indiana as resident agents of the insurers on whose behalf they may have signed, and the certificate of the architect or engineer hereinbefore referred to shall be deposited with the Lessor. If, at any time, the Lessee fails to maintain insurance in accordance with this clause, such insurance may be obtained by the Lessor and the amount paid therefor shall be added to the amount of rental payable by the Lessee under this Lease; provided, however, that the Lessor shall be under no obligation to obtain such insurance and any action or non - action of the Lessor in this regard shall not relieve the Lessee of any consequence of its default in failing to obtain such insurance. 7. General Covenants. The Lessee shall not assign this Lease or sublet the demised premises herein described without the written consent of Lessor; provided, however, that the Lessee shall in no event assign or sublet the demised premises if such assignment or sublease will result in the loss of the exclusion from gross income for federal income tax purposes of interest on any obligation issued by the Lessor to finance the demised premises. -6- DMS_US 51840010x2