Orange County NC Website
6 <br /> If one of the two boxes above is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent <br /> 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 <br /> then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or <br /> cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by <br /> Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any <br /> overpayment(as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the <br /> tax reimbursements paid hereunder except as provided in this Section 9. <br /> Insurance <br /> the excess cost of commercial general liability,broad form fire and extended and special perils insurance with respect to the <br /> Premises over the cost of the first year of the Lease term for each subsequent year during the term of this Lease;or <br /> ❑ the cost of all commercial general liability, broad form fire and extended and special perils insurance with respect to the <br /> Premises. <br /> If one of the two boxes above is checked,Tenant shall reimburse Landlord for insurance by paying to Landlord,beginning on the Rent <br /> 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 <br /> then current insurance premiums for the Premises. Upon receipt of bills, statements or other evidence of insurance premiums due, <br /> Landlord shall pay or cause to be paid the insurance premiums. If at any time the reimbursement payments by Tenant hereunder do <br /> not equal the amount of insurance premiums paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the <br /> deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no <br /> obligation to segregate or otherwise account for the insurance premium reimbursements paid hereunder except as provided in this <br /> Section 9. <br /> Provided however,notwithstanding any provision of the foregoing,that in the event Tenant's use of the Premises results in an increase <br /> in the rate of insurance on the Property, Tenant shall pay to Landlord, upon demand and as additional rental, the amount of any such <br /> increase. <br /> INSURANCE;WAIVER;INDEMNITY <br /> 10. (a) During the term of this Lease, Tenant shall maintain commercial general liability insurance coverage (occurrence coverage) <br /> with broad form contractual liability coverage and with coverage limits of not less than <br /> combined single limit, per occurrence, specifically including liquor liability insurance covering consumption of alcoholic beverages <br /> by customers of Tenant should Tenant choose to sell alcoholic beverages. Such policy shall insure Tenant's performance of the <br /> indemnity provisions of this Lease, but the amount of such insurance shall not limit Tenant's liability nor relieve Tenant of any <br /> obligation hereunder.All policies of insurance provided for herein shall name as "additional insureds"Landlord,Landlord's Agent,all <br /> mortgagees of Landlord and such other individuals or entities as Landlord may from time to time designate upon written notice to <br /> Tenant. Tenant shall provide to Landlord,at least thirty(30)days prior to expiration,certificates of insurance to evidence any renewal <br /> or additional insurance procured by Tenant. Tenant shall provide evidence of all insurance required under this Lease to Landlord prior <br /> to the Lease Commencement Date. <br /> (b) Landlord (for itself and its insurer) waives any rights, including rights of subrogation, and Tenant (for itself and its <br /> insurer)waives any rights, including rights of subrogation, each may have against the other for compensation of any loss or damage <br /> occasioned to Landlord or Tenant arising from any risk generally covered by the "all risks" insurance required to be carried by <br /> Landlord and Tenant. The foregoing waivers of subrogation shall be operative only so long as available in the State of North Carolina. <br /> The foregoing waivers shall be effective whether or not the parties maintain the insurance required to be carried pursuant to this <br /> Lease. <br /> (c) Except as otherwise provided in Section 10(b), Tenant indemnifies Landlord for damages proximately caused by the <br /> negligence or wrongful conduct of Tenant and Tenant's employees, agents, invitees or contractors. Except as otherwise provided in <br /> Section 10(b), Landlord indemnifies Tenant for damages proximately caused by the negligence or wrongful conduct of Landlord and <br /> Landlord's employees, agents, invitees or contractors. The indemnity provisions in this Section 10 cover personal injury and property <br /> damage and shall bind the employees, agents, invitees or contractors of Landlord and Tenant (as the case may be). The indemnity <br /> obligations in this Section 10 shall survive the expiration or earlier termination of this Lease. <br /> REPAIRS BY LANDLORD <br /> 11. Landlord agrees to keep in good repair the roof, foundation, structural supports and exterior walls of the buildings located on the <br /> Premises (exclusive of all glass and exclusive of all exterior doors) and, except as may be specifically allocated to Tenant in Section <br /> Page 5 of 12 <br /> STANDARD FORM 592-T <br /> Revised 7/2024 <br /> Tenant Initials Landlord Initials ©7/2024 <br /> Produced with Lone Wolf Transactions(zipForm Edition)717 N Harwood St,Suite 2200,Dallas,TX 75201 www.lwolf.com HREG <br />