Agenda - 05-18-2021; 8-j - Renewal of Lease for 115 E. King Street

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8 Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9. Insurance ❑ the excess cost of commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises over the cost of the first year of the Lease term for each subsequent year during the term of this Lease;or ❑ the cost of all commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises. ❑ If this box is checked,Tenant shall reimburse Landlord for insurance by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current insurance premiums for the Premises. Upon receipt of bills, statements or other evidence of insurance premiums due,Landlord shall pay or cause to be paid the insurance premiums.If at any time the reimbursement payments by Tenant hereunder do not equal the amount of insurance premiums paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment(as applicable)as documented by Landlord.Landlord shall have no obligation to segregate or otherwise account for the insurance premium reimbursements paid here under except as provided in this paragraph 9. (Note:The following box should only be checked if there are no boxes checked above in this paragraph 9.) ❑✓ If this box is checked,Tenant shall have no responsibility to reimburse Landlord for taxes or insurance. Provided however,notwithstanding any provision of the foregoing,that in the event Tenant's use of the Premises results in an increase in the rate of insurance on the Premises, Tenant shall pay to Landlord,upon demand and as additional rental,the amount of any such increase. INSURANCE;WAIVER;INDEMNITY 10. (a) During the term of this Lease, Tenant shall maintain commercial general liability insurance coverage (occurrence coverage) with broad form contractual liability coverage and with coverage limits of not less than combined single limit, per occurrence, specifically including liquor liability insurance covering consumption of alcoholic beverages by customers of Tenant should Tenant choose to sell alcoholic beverages. Such policy shall insure Tenant's performance of the indemnity provisions of this Lease, but the amount of such insurance shall not limit Tenant's liability nor relieve Tenant of any obligation hereunder.All policies of insurance provided for herein shall name as"additional insureds"Landlord,Landlord's Agent,all mortgagees of Landlord and such other individuals or entities as Landlord may from time to time designate upon written notice to Tenant. Tenant shall provide to Landlord,at least thirty(30)days prior to expiration,certificates of insurance to evidence any renewal or additional insurance procured by Tenant.Tenant shall provide evidence of all insurance required under this Lease to Landlord prior to the Lease Commencement Date. I (b) Landlord (for itself and its insurer) waives any rights, including rights of subrogation, and Tenant (for itself and its insurer)waives any rights, including rights of subrogation, each may have against the other for compensation of any loss or damage occasioned to Landlord or Tenant arising from any risk generally covered by the "all risks" insurance required to be carried by Landlord and Tenant.The foregoing waivers of subrogation shall be operative only so long as available in the State of North Carolina. The foregoing waivers shall be effective whether or not the parties maintain the insurance required to be carried pursuant to this Lease. rregfigence bfirf canduct of Tenant and fagents, and Eandfuid's f piripcity dainage zaid shaii bind dir, enipinyer's, agents, invitees al cantlactuis of Emidfuid mid Tenant (as die casc may b.). Th. Page 5 of 12 STANDARD FORM 592-T p Revised 7/2019 Tenant Initials� Landlord Initials 6-ar ©7/2019 Produced with zipForm®by zipLogix 18070 Fifteen Mile Road,Fraser,Michigan 48026 www.zipLoaix.com Pasley