CompUSA 2014 Annual Report Download - page 79

8.
Taxes
. Landlord shall pay all taxes, assessments and governmental charges (collectively referred to as "Taxes") that accrue
against the Project during the Lease Term, which shall be included as part of the Operating Expenses charged to Tenant. Landlord may contest
by appropriate legal proceedings the amount, validity, or application of any Taxes or liens thereof. All capital levies or other taxes assessed or
imposed on Landlord upon the rents payable to Landlord under this Lease and any franchise tax, any excise, use, margin, transaction, sales or
privilege tax, assessment, levy or charge measured by or based, in whole or in part, upon such rents from the Premises and/or the Project or any
portion thereof shall be paid by Tenant to Landlord monthly in estimated installments or upon demand, at the option of Landlord, as additional
rent; provided, however, in no event shall Tenant be liable for any net income taxes imposed on Landlord unless such net income taxes are in
substitution for any Taxes payable hereunder. If any such tax or excise is levied or assessed directly against Tenant or results from any Tenant-
Made Alterations (defined below), then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing
authority shall require. Tenant shall be liable for all taxes levied or assessed against any personal property or fixtures placed in the Premises by
Tenant or its assignees or subtenants, whether levied or assessed against Landlord or Tenant.
9.
Insurance
. Landlord shall maintain all risk or special form property insurance covering the full replacement cost of the
Building
and commercial general liability insurance on the Project in forms and amounts customary for properties substantially similar to the
Project, subject to customary deductibles
. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it
may deem necessary, including but not limited to, rent loss insurance. All such insurance shall be included as part of the Operating Expenses
charged to Tenant. The Project or Building may be included in a blanket policy (in which case the cost of such insurance allocable to the Project
or Building will be determined by Landlord based upon the total insurance cost calculations). Tenant shall also reimburse Landlord for any
increased premiums or additional insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises.
Tenant, at its expense, shall maintain during the Lease Term the following insurance, at Tenant’
s sole cost and expense: (1)
commercial general liability insurance applicable to the Premises and its appurtenances providing, on an occurrence basis, a minimum combined
single limit of $2,000,000; and in the event property of Tenant’
s invitees or customers are kept in, or about the, Premises, Tenant shall maintain
warehouser’
s legal liability or bailee customers insurance for the full value of the property of such invitees or customers as determined by the
warehouse contract between Tenant and its customer; (2) all risk or special form property insurance covering the full replacement cost of all
property and improvements installed or placed in the Premises by Tenant; (3) workers’
compensation insurance as required by the state in which
the Premises is located and in amounts as may be required by applicable statute and shall include a waiver of subrogation in favor of Landlord;
(4) employers liability insurance of at least $1,000,000, (5) business automobile liability insurance having a combined single limit of not less
than $2,000,000 per occurrence insuring Tenant against liability arising out of the ownership maintenance or use of any owned, hired or
nonowned automobiles, and (6) business interruption insurance with a limit of liability representing loss of at least approximately 90 days of
income. Any company writing any of Tenant’s insurance shall have an A.M. Best rating of not less than A-
VIII and provide primary coverage to
Landlord (any policy issued to Landlord providing duplicate or similar coverage shall be deemed excess over Tenant's policies). All commercial
general liability and, if applicable, warehouser’
s legal liability or bailee customers insurance policies shall name Tenant as a named insured and
Landlord, its property manager, and other designees of Landlord as the interest of such designees shall appear, as additional insureds. The limits
and types of insurance maintained by Tenant shall not limit Tenant’
s liability under this Lease. Tenant shall provide Landlord with certificates
of such insurance as required under this Lease prior to the earlier to occur of the Commencement Date or the date Tenant is provided with
possession of the Premises, and thereafter upon renewals at least 15 days prior to the expiration of the insurance coverage. Acceptance by
Landlord of delivery of any certificates of insurance does not constitute approval or agreement by Landlord that the insurance requirements of
this section have been met, and failure of Landlord to identify a deficiency from evidence provided will not be construed as a waiver of Tenant’
s
obligation to maintain such insurance. In the event any of the insurance policies required to be carried by Tenant under this Lease shall be
cancelled prior to the expiration date of such policy, or if Tenant receives notice of any cancellation of such insurance policies from the insurer
prior to the expiration date of such policy, Tenant shall: (a) immediately deliver notice to Landlord that such insurance has been, or is to be,
cancelled, (b) shall promptly replace such insurance policy in order to assure no lapse of coverage shall occur, and (c) shall deliver to Landlord a
certificate of insurance for such policy. The insurance required to be maintained by Tenant hereunder are only Landlord’
s minimum insurance
requirements and Tenant agrees and understands that such insurance requirements may not be sufficient to fully meet Tenant’s insurance needs.
The all risk or special form property insurance obtained by Landlord and Tenant shall include a waiver of subrogation by the
insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, their officers, directors , employees, managers,
agents, invitees and contractors, in connection with any loss or damage thereby insured against. Neither party nor its officers, directors,
employees, managers, agents, invitees or contractors shall be liable to the other for loss or damage caused by any risk coverable by all risk or
special form property insurance, and each party waives any claims against the other party, and its officers, directors, employees, managers,
agents, invitees and contractors for such loss or damage. The failure of a party to insure its property shall not void this waiver. Tenant and its
agents, employees and contractors shall not be liable for, and Landlord hereby waives all claims against such parties for losses resulting from an
interruption of Landlord’
s business, or any person claiming through Landlord, resulting from any accident or occurrence in or upon the Premises
or the Project from any cause whatsoever, including without limitation, damage caused in whole or in part, directly or indirectly, by the
negligence of Tenant or its agents, employees or contractors. Landlord and its agents, employees and contractors shall not be liable for, and
Tenant hereby waives all claims against such parties for losses resulting from an interruption of Tenant’
s business, or any person claiming
through Tenant, resulting from any accident or occurrence in or upon the Premises or the Project from any cause whatsoever, including without
limitation, damage caused in whole or in part, directly or indirectly, by the negligence of Landlord or its agents, employees or contractors.
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