RES 157 Draft 01 2012-2014 - Laserfiche WebLink

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and furnish a like certificate (s) upon each renewal of the policy(s) . This insurance shall not be cancelled, limited in scope of coverage, or non-renewed until after thirty (30) days written notice has been given to the Lessor. The Lessor may at any time require the Lessee to provide Lessor with copies of the insurance policy(s) that are or were in effect during the lease period. The Lessor shall retain the right at any time to review the coverage, form, and amount of the insurance required by this lease. If, in the opinion of the Lessor, the insurance provisions in this lease do not provide adequate protection for the Lessor, the Lessor may require Lessee to obtain insurance sufficient in coverage, form, and amount to provide adequate protection. The Lessor' s requirements shall be reasonable but shall be designed to assure protection for and against the kind and extent of the risks which exist at the time a change in insurance is required. The Lessor shall notify Lessee in writing of changes in the insurance requirements and Lessee shall deposit copies of acceptable insurance policy(s) or certificate (s) thereof, with the Lessor incorporating the changes within thirty (30) days of receipt of the notice. The procuring of the required policy(s) of insurance shall not be construed to limit Lessee ' s liability under this lease nor to release or relieve the Lessee of the indemnification provisions and requirements of this lease . Notwithstanding the policy(s) of insurance, Lessee shall be obligated for the full and total amount of any damage, injury, or loss caused by Lessee ' s negligence or neglect connected with this lease . It is agreed that any insurance maintained by the Lessor will apply in excess of, and not contribute with, insurance provided by Lessee ' s policy. 18 . Bond, performance. The Lessee shall, at its own cost and expense, within fifteen (15) days from the effective date of this lease, procure and deposit with the Lessor and thereafter keep in full force and effect during the term of this lease a good and sufficient surety bond, conditioned upon the full and faithful observance and performance by Lessee of all the terms, conditions, and covenants of this lease, in an amount equal to two times the annual rental then payable . This bond shall provide that in case of a breach or default of any of the lease terms, covenants, conditions, and agreements, the full amount of the bond shall be paid to the Lessor as liquidated and ascertained damages and not as a penalty. 6