Laserfiche WebLink
23. That LESSEE shall during the term hereof maintain at LESSEE's sole cost and <br />expense insurance relating to the leased premises as follows: (1) Insurance against loss or damage <br />to improvements by fire, lightning, and other risks from time to time included under standard <br />extended coverage policies, and sprinkler, vandalism, and malicious mischief in an amount not less <br />than the full replacement value of the hangar; and (2) Hangar keeper's liability insurance providing <br />for coverage in the following limits: $200,000.00 per aircraft and $400,000.00 per occurrence on <br />property damage to aircraft in the care, custody, or control of LESSEE if the LESSEE does not own <br />all the aircraft stored in LES SEE's hangar. <br /> <br /> 24. 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 leased premises. This <br />insurance shall be carried by insurance companies authorized to transact business in the state of <br />Texas, selected by LESSEE and approved by LESSOR, and shall be paid for by LESSEE. This <br />insurance shall have limits of not less than $100,000.00 for property damage and $250,000.00 for one <br />person and $500,000.00 for one accident for personal injury and shall protect LESSOR and LESSEE, <br />as well as any other person or persons LESSEE may designate, against all liability for injury or <br />damage to any person or property in any way arising out of demolition, excavation, or construction <br />work on the leased premises. <br /> <br /> 25. 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 />LES SOR shall not be liable to LES SEE, LES SEE's invitees, agents, servants, employees or visitors <br /> <br />Master Lease Agreement - page 14 <br /> <br /> <br />