INSURANCE:
OWNER agrees to keep in force adequate property, public liability, fire, and when applicable workman's compensation insurance to protect against damage or injury to property or persons which might arise out of the occupancy, management, operation or maintenance of the Property. The deductible required under such insurance policies shall be at OWNER’S expense. In the event that the premises shall be rendered uninhabitable due to fire or other disaster, the BROKER shall be entitled to share, on the same basis as delineated in Section-COMMISSION, in loss of rent insurance collected by the OWNER. BROKER shall be named as an additional interest on all liability insurance maintained with respect to the Property. Liability insurance shall be in form, substance and amounts reasonable to BROKER, but not less than $500,000 (five hundred thousand dollars). OWNER shall provide BROKER with proof of fire insurance and shall obtain adequate vandalism coverage for the Property.
OWNER agrees that BROKER shall manage the property in full compliance with requirements of all applicable laws, and that BROKER is authorized to take such action as BROKER deems appropriate to comply with such laws at BROKER'S sole discretion. OWNER agrees to hold BROKER harmless from any damage to property or from loss of, or damage to furnishings, fixtures or other articles therein and all damage suits in connection with the management of the described property and from liability from any and all injuries suffered by any Tenant or any other person whomsoever. BROKER shall not be liable for any and all error of judgment or for any mistake of fact of law, or for anything it may do or refrain from doing with the managed property, and is acting solely on behalf of OWNER in an Agent capacity.PLEASE CLOSE THIS WINDOW BEFORE PROCEEDING