Res-2020-217 - Laserfiche WebLink

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tort claims procedure, RCW 4.92.100 et seq., provides the fundamental remedy for all tort liability claims against the Tenant and its officers, employees, and agents acting as such, and all such claims must be filed and processed as provided therein. b. Landlord's Obligations. i. During the Term, Landlord shall maintain all-risk property insurance on the Building against "special form perils" (to the extent such coverage is available) with responsible insurers, insuring the Building in an amount equal to at least eighty percent (80%)of the replacement cost thereof, excluding land, foundations, footings and underground installations. ii. Landlord shall also obtain and keep in force during the Term a policy or policies in the name of Landlord, with loss payable to Landlord and any Lender(s), insuring the loss of the full rental and other charges payable by all tenants of the Building to Landlord for one year (including all Real Property Taxes, insurance costs, all Common Area Operating Expenses and any scheduled rental increases). 7. INDEMNIFICATION. Each party to this Agreement will be responsible for the acts or omissions of its own employees, volunteers, officers, or agents in the performance of this lease agreement. Neither party will be considered the agent of the other nor does either party assume any responsibility to the other party for the consequences of any act or omission of any person or entity not a party to this lease agreement. 8. DAMAGE/DESTRUCTION OF PREMISES. ln case of fire, earthquake or other casualty, Tenant shall immediately notify Landlord, who shall cause the damages to that portion of the Building hereby leased to be repaired, but if the Premises are so damaged that Landlord shall decide not to rebuild, the term shall cease and the accrued rent shall be paid up to the time of said casualty. ln the event the Premises are destroyed or injured by fire or earthquake or other casualty, to the extent that they are un-tenantable in whole or in part, then Landlord may, at Landlord's option, proceed with reasonable diligence to restore the Premises or such part thereof, provided that within 60 days after such destruction or injury Landlord shall notify Tenant in writing of Landlord's intention to do so. During the period from destruction or damage to restoration, Rent will be abated in the same ration as that portion of the Premises which Landlord determines is unfit for occupancy bears to the whole Premises. 9. CONDEMNATION. lf all or part of the Premises are taken under power of eminent domain, or sold to a condemning authority in lieu thereof, this Lease will terminate as to the part so taken as of the date the condemning authority takes possession. ln case of a taking of part of the Premises, or a portion of the Property not required for Tenant's reasonable use of the Premises, this Lease will continue in full force and effect and the Rent will be reduced based on the proportion by which the rentable square feet of the EBDA Airport Building Commercial Lease 6