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HomeMy WebLinkAbout70.:x .FEH-10-2000 13:39 FROM UNICO PROPERTIES, RENTONN TO 4307300 P.13 supplemented. Manager shall indemnify, defend and hold Owner harmless from any and all claims, demands, causes of action, losses, damages, fines, penalties, liabilities, costs and xpenses, including reasonable m { attorney's fees and court costs (except to the extent covered by any property damage or liability insurance required to be maintained by Owner with respect to the Property (without regard to any deductible or self- insurance retention amounts) pursuant to Section 6.2), sustainzd or incarred by or asserted against Owner by reason of or arising out of Manager's negligence, gross negligence or willful misconduct. 3 6.2 Insurance. Owner (or Manager, at Owners request and expense) shall obtain and keep in force replacement cost insurance against physical damage (eg, fire with extended coverage endorsement, boiler and machinery, earthquake, eta) with loss of rents as required by Owner's lender and broad form commercial general liability coverage in an amount reasonably acceptable to Owner and such other coverages as may be appropriate, insuring against liability for loss, damage or injury to property or persons which might arise out of the occupancy, management, operation, maintenance, leasing or marketing of any of the Properties covered by the Agreement or other insurance as may be required by Owner's lender. Manager will be an additional insured in all liability insurance maintained wit}; respect to each Property. All such liability policies shall be primary and non-contributory with any liability insurance carried by Manager with respect to any claims arising out of the performance or non-performance of Manager's duties and activities within the scope of this Agreement or arising from any action or activity on, or condition of, the Property. Manager agrees (a) to notify Owner and the insurance carrier within two (2) business days after Manager receives actual notice of any such loss, damage or injury; (b) to take no action (such as admission of liability) which might bar Owner from obtaining any protection afforded by any policy Owner may hold or which might prejtadice Owner in its defense to any claim, demand or suit within limits prescribed by the policy or policies of insurance. Manager shall aid and cooperate with Owner in every reasonable way with respect to such insurance and any loss thereunder. All property damage insurance policies shall contain appropriate clauses pursuant to which the respective insurance carriers shall waive all rights of suorogation against Manager, its directors, officers, agents, servants and employees, and tenants of Owner with respect to losses payable under such policies. All insurance shall be placed with companies/carriers licensed in the State of Washington and, if required by Owner, maintaining a Best's Rating of A-NIII or as required by any financing agreements. 6.3 Additional Insurance. Manager shall furnish a certificate of comprehensive crime insurance in an amount of not less than $2,000,000. In addition, Manager shall maintain Workers Compensation insurance in the statutory amount (or participate in the appropri�.te state fund if such insurance is not available or allowed), employer's liability insurance in the amount of $100,000 (or participate in the appropriate sate fund if such insurance is not available or allowed), and broad form cotmercial general Lability insurance (including contractual liability and personal injury coverages) in the amount of not less than $5,000,000 combined single limit. 'The liability insurance policy shall name Manager as the rnained insured. Such broad form commercial general liability policy shall provide that it carrot be terminated with less than thirty (30) days written notice to Owner of such termination. Owner will not reimburse Manager for Manager's cost of such broad form commercial general liability insurance, or for any and all coverages that Manager obtains for its own account. All insurance policies shall be in form, amounts and with such companies as are acceptable to Owner provided, however, that in no event shall any insurer havz a Bests Insurance Rating of less than "A-". 6.4 Tenant insurance, Manager shall ensure all tenants provide evidence of insurance as required under the tenants' leases and shall forward copies of such evidence to Owner. 6.5 ContractZ lnsucance. Manager shall require that all contractors brought onto any Property have insurance coverage, at he contractors expense, in the following minimum amounts: