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06-F-Hangar H - Lease Award
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March 26, 2001
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06-F-Hangar H - Lease Award
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Last modified
11/8/2005 11:20:45 AM
Creation date
3/23/2001 9:18:48 PM
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Template:
AGENDA
Item Number
6-F
AGENDA - Type
LEASE RESOLUTION
Description
Award Lease on Hangar H
AGENDA - Date
3/26/2001
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shall, in the event of a judgment or foreclosure on the lien, cause the lien to be discharged and <br />removed prior to execution of the judgment. <br /> <br /> 17. That, at all times during the term of the Lease, LESSEE shall keep all buildings and <br />other improvements located or being constructed on the premises insured against loss by damage by <br />fire, with extended coverage endorsement of its equivalent. This insurance shall be carried by <br />insurance companies authorized to transact business in Texas, selected by LESSEE and approved by <br />LESSOR whose approval shall not be unseasonably withheld. The insurance shall be paid for my <br />LESSEE and shall be in amounts not less than the full amount of the insurable value of the buildings <br />and other improvements. Such policy or policies of insurance shall name LESSOR and LESSEE as <br />named insured. <br /> <br /> 18. That LES SEE agrees to obtain and maintain construction liability insurance at all times <br />when demolition, excavation, or construction work is in progress on the premises. This insurance <br />shall be carried by insurance companies authorized to transact business in the state of Texas, selected <br />by LESSEE and approved by LESSOR, and shall be paid for my LESSEE. This insurance shall have <br />limits of not less than $100,000 for property damage and $250,000 for one person and $500,000 for <br />one accident for personal injury and shall protect LESSOR and LESSEE, as well as any other person <br />or person LESSEE may designate, against all liability for injury or damage to any person or property <br />in any way arising out of demolition, excavation, or construction work on the premises. <br /> <br /> 19. That LESSEE agrees to indemnify, save, keep and hold harmless LESSOR from and <br />against any and all demands, debts, liabilities, suits, claims and causes of action of every kind and <br />character whatsoever for damage or injuries to persons and/or property occurring on the leased <br />premises resulting from LESSEE's, LESSEE's invitees, agents, servants or employee's use, and <br /> <br />Lease Agreement - Page 7 <br /> <br /> <br />
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