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CITY. If any blanket general insurance policy of PROJECT complies with the terms of this Article, the
<br />naming of CITY therein as an additional insured shall be deemed compliance with the requirements for the
<br />insurance coverage provided in any such blanket policy. PROJECT shall provide copies of each of the
<br />policies required herein to the City no later than the fifteenth (15') day after said policies are issued.
<br />A„ y5tment,mo„ Losses. Any loss under any such insurance policy required under this Article shall be
<br />6.6. wmmd'u, ,f Loss,,,,,
<br />made payable to PROJECT for the benefit of PROJECT and CITY, to the end that PROJECT shall be
<br />entitled to collect all money due under such policies payable in the event of and by reason of the loss of or
<br />damage to the Theater Premises, to be applied as described below. Any accumulation of interest on the
<br />insurance proceeds collected by PROJECT shall be added to, and become a part of, the fund being held by
<br />PROJECT for the benefit of CITY and PROJECT. The adjustment of losses with the insurer shall be made
<br />by PROJECT.
<br />6.7. Application of_Proceeds.of PrpJ,)p!� Insurance. All proceeds payable pursuant to the provision of any
<br />policies of property insurance required to be carried under the terms of this LEASE (net of reasonable
<br />expenses of collection) shall be applied for the following purposes:
<br />(a) All such net proceeds shall first be used, subject to any other terms and conditions contained in
<br />this LEASE, as a fund for the rebuilding, restoration, and repair of the portion of the Leased
<br />Premises which become destroyed or damaged and for which such proceeds are payable; and
<br />(b) Following completion of all work under subsection (a) above, any proceeds not disbursed
<br />pursuant to subsection (a) above shall be deposited to the capital reserve account described in
<br />Section 5.2 herein above.
<br />6.8 Indemnification. PROJECT does hereby agree to release, indemnify, and hold CITY and its
<br />officers and employees harmless from and against any and all demands, debts, liabilities, suits, claims,
<br />and causes of action of every kind and character whatsoever including but not limited to demands,
<br />debts, liabilities, suits, claims and causes of action for damage or injury (including death) to persons
<br />and/or property occurring on the Leased Premises and resulting from PROJECT'S invitees, guests,
<br />agents, servants, or employees' presence upon, use, occupancy or enjoyment of the Theater and/or
<br />from PROJECT's business dealings, of whatsoever character, with third parties. CITY shall not be
<br />liable to PROJECT invitees, guests, agents, servants, employees, or visitors due to the improvements
<br />located thereon, or hereafter constructed, or any other condition of the Theater facilities being
<br />improperly constructed, maintained, or being or becoming out of repair. PROJECT hereby waives
<br />any defects on the Theater facilities and agrees to hold and save City harmless from all claims for any
<br />such damages or injuries. This indemnification by PROJECT includes, but is not limited to, any and
<br />all expenses whatsoever reasonably incaar►•ed in izrvesduating, preparing or del€ndbig sa ainst any
<br />litigation commenced or threatened or any claim whatsoever, including;, but not limited to, sattorneys'
<br />fees.
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