Standard Commercial Lease - Free Download | Page 4
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evidencing the insurance coverage required by these provisions, and providing that LESSOR shall
receive 30 days' notice of cancellation or material change in coverage. Upon reasonable request,
LESSEE shall furnish LESSOR with a copy of the premium bill and evidence of payment.
8.6. In the event of casualty damage to the Premises, and if LESSOR is carrying
the "All Risk" Property Insurance, LESSEE shall promptly report the damage to LESSOR and
LESSOR shall make whatever claim against the insurance company that LESSOR deems
advisable. LESSEE shall cooperate in connection with the claim. In the event of either damage to
the Premises by casualty or an assertion of liability, and if LESSEE is carrying the applicable
insurance policy, LESSEE shall promptly report the same to the applicable insurance company
and make a claim for insurance proceeds, delivering to LESSOR a copy of the claim. Any
insurance proceeds shall be applied to the rebuilding or repair of the property, with any excess
paid to LESSOR or disbursed as LESSOR deems appropriate.
9. LIENS AND ENCUMBRANCES: This Lease shall be subject and subordinate
to any present or future mortgages, deeds of trust, and other liens or encumbrances executed or
consented to by LESSOR, which do not materially adversely affect LESSEE'S use of the
Premises. The holder of any such mortgage, deed of trust, lien or encumbrance may notify
LESSEE in writing of its interest, and in such event LESSEE shall send copies of all notices or
communications regarding this Lease to the holder of the mortgage, deed of trust, lien or
encumbrance. Such holder shall be entitled to take any action or exercise any rights reserved to
LESSOR under this Lease. LESSEE shall, within ten (10) days after receipt of a request therefor,
execute and deliver to LESSOR and the holder of such a mortgage, deed of trust, lien or other
encumbrance, an estoppel certificate and/or agreement evidencing the subordination of this Lease
as described above, which estoppel certificate and/or agreement shall be in form satisfactory to
LESSOR and such holder.
9.1. LESSEE shall not encumber or permit the encumbrance of the Premises or
this leasehold estate by any mortgage, deed of trust, assignment, security interest, lien or other
charge, without LESSOR'S prior written consent, which consent shall not be unreasonably
withheld.
9.2. This Lease does not require LESSEE to improve the Premises or construct
any improvements or additions on the Premises. Any improvements or additions to the Premises
which LESSEE might make or permit are for the sole use of LESSEE and will not benefit
LESSOR'S reversion. LESSEE is not, and shall not be deemed to be, the agent of LESSOR in
contracting or arranging for any improvements to the Premises or any construction on the
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