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procured by Lessee shall contain an endorsement which names Lessor <br />as a co- insured and loss payee as its interests may appear and <br />which covenants against cancellation without prior written notice <br />having been delivered to Lessor. Lessor and Lessee each hereby <br />waive as between themselves all rights of subrogation against the <br />other by their respective insurers under the fire and miscellaneous <br />hazard insurance policies obtained pursuant to paragraphs 3.01(d) <br />and 3.02(c)(3) hereof, and will procure endorsements to their <br />respective fire and miscellaneous hazard insurance policies, if <br />necessary, in which their respective insurers will waive <br />subrogation rights. <br />(d) Repairs and Maintenance. Lessee shall repair and <br />maintain the Premises, at its own and sole expense during the term <br />of this Agreement, subject to the provisions set forth in <br />paragraphs 3.01(a) and 4.03. At the end of the term, Lessee shall <br />deliver up and return the Premises in as a good a condition as when <br />first received, ordinary wear and tear excepted. Lessee's taking <br />possession under this Agreement shall be conclusive evidence <br />against Lessee that it has inspected the Premises, found it to be <br />in good condition, and that it is in good condition. <br />(e) Utilities. Lessee shall pay, promptly and without delay, <br />8.27% of all second floor utilities and service charges for water, <br />sewer, electric and telephone service. Lessor shall bill Lessee <br />for its 8.27% share of such charges and Lessee shall pay same in <br />arrears with the remittance of its next month's rent. <br />-11- <br />