COI Tenant Insurance Requirements - 230 Fifth Avenue

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LEASE AGREEMENT INSURANCE AND INDEMNIFICATION LANGUAGETenant assumes the liability for damage to its improvements, fixtures, partitions, equipment andpersonal property therein, and all appurtenances thereto, regardless of the cause thereof. Exceptas otherwise provided herein, Tenant expressly waives and releases Property Owner, Landlordand Managing Agent from all claims against Property Owner, Landlord and Managing Agent andagrees to hold Property Owner, Landlord and Managing Agent harmless for any loss resulting fromdamage or loss to Tenant's goods, wares, merchandise, inventories, fixtures and/or equipment ofany invitee, subsidiary or affiliate of tenant, vendor or contractor in, upon or about said premisesregardless of the cause.Tenant shall secure, pay for and maintain, at its own expense, the following insurance policies infull force and effect during the term of the agreement:(A)Property Insurance: Replacement cost insurance on Tenant's machinery, equipment,furniture & fixtures, goods, wares, merchandise, improvements/betterments and BusinessInterruption/Extra Expense in sufficient amounts against damage caused by Fire and allother perils covered by a standard All Risk Insurance Policy. Tenant agrees to waive itsright of subrogation against Property Owner, Landlord and Managing Agent and shallobtain a waiver from its insurance company releasing the carrier’s subrogation rightsagainst Property Owner, Landlord and Managing Agent.(B)Workers Compensation affording coverage under the Workers Compensation laws of theNew YorkState of (wherePremises are located) and Employers Liability coverage subject toa limit of no less than 500,000 each employee, 500,000 each accident and 500,000policy limit.(C)Commercial General Liability Insurance for limits of 1,000,000 per occurrence Bodily Injuryand Property Damage, 1,000,000 per occurrence Personal & Advertising Injury, 1,000,000 Products Liability and Completed Operations, 1,000,000 Fire Damage LegalLiability and 2,000,000 General Aggregate limit per location. The policy shall be written onan occurrence basis subject to no deductible.Policy shall be endorsed to name Property Owner, any Fee Owner, Landlord andNewmark Family Properties, LLC and Newmark & Company Real Estate, Inc. d/b/aNewmark Grubb Knight Frank as "Additional Insured" using form CG2026 or itsequivalent. Definition of Additional Insured shall include all subsidiary and affiliated entitiesand their respective members, partners, officers, directors, shareholders, consultants,employees, servants, agents, representatives and designees. Further, coverage forAdditional Insureds shall apply on a primary and non-contributory basis irrespective of anyinsurance whether collectible or not. Any deductible shall be the responsibility of theTenant.(D)Umbrella Liability Insurance for the total limit purchased by the Tenant but not less than a 5,000,000 limit providing excess coverage over all limits and coverage noted inparagraphs (B) and (C) above. This policy shall be written on an "occurrence" basis.Coverage shall apply on a primary and non-contributory basis for any party Tenant isrequired to include as additional insured under this agreement.Newmark – Lease Agmt and Indemn Lang – July 30 2015

All policies noted in above shall be written with insurance companies licensed to dobusiness in the State where the Premises are located and rated no lower than A10 in themost current edition of A.M. Best's Property-Casualty Key Rating Guide.(E)Evidence (Notices) of ComplianceAll policies shall be endorsed to provide that in the event of cancellation, non-renewal ormaterial modification, Property Owner, Landlord and Managing Agent shall receive thirty(30) days written notice thereof. If unable to endorse policy, Tenant shall be responsible forproviding notice.Tenant shall furnish Property Owner, Landlord and Managing Agent with Certificates ofInsurance and upon Landlords request, complete copies of all policies including allendorsements attached thereto evidencing compliance with all insurance provisions notedabove no later than five (5) days prior to the inception of the lease; and five (5) days prior tothe expiration or anniversary of the respective policy terms.All Certificates or policy termination notices should be delivered to:230 Fifth Avenue Associates, LLC230 Fifth Avenue, Suite 1018New York, NY 10001(F)Indemnification/Hold HarmlessThe Tenant shall, to the fullest extent permitted by law and at its own cost and expense,defend, indemnify and hold Property Owner, any Fee Owner, Landlord and ManagingAgent their subsidiary and affiliated entities and their respective members, partners,officers, directors, shareholders, consultants, employees, servants, agents, representativesand designees harmless from and against any and all claims, loss, (including attorney'sfees, witnesses' fees and all court costs), damages, expense and liability (includingstatutory liability), resulting from injury and/or death of any person or damage to or loss ofany property arising out of any negligent or wrongful act, error or omission or breach ofcontract in connection with the operations of the Tenant arising from or in connection withthe possession, use, occupancy, management, repair, maintenance or control of theDemised Premises or any portion thereof; or arising from or in connection with any Tenantwork. The foregoing indemnity shall include injury or death of any employee of the Tenant,its invitees, contractors and subcontractors and shall not be limited in any way by anamount or type of damages, compensation or benefits payable under any applicableWorkers Compensation, Disability Benefits or other similar employee benefits acts.Tenants Liability under this indemnification shall not be limited to required limits inparagraphs B, C & D above.(G)Tenant ImprovementsNewmark – Lease Agmt and Indemn Lang – July 30 2015

Tenant shall obtain Landlord’s prior written consent to any renovation, addition, installation,improvement or alteration, hereinafter referred to as “Tenant improvements”.Tenant shall cause its Contractors and Subcontractors to secure and keep in effect duringthe performance of any Tenant improvement at Contractors sole cost and expense thefollowing coverage:Property insurance upon tools, material, equipment and supplies, whether owned, leasedor borrowed by the Contractor or its employees to the full replacement cost for all causes ofloss included within “all risk” perils. Policy shall allow for a waiver of subrogation againstLandlord.New YorkWorkers Compensation affording coverage under the laws of the State of(where work is performed) and Employers Liability coverage subject to a limit of no lessthan 1,000,000 each employee, 1,000,000 each accident and 1,000,000 policy limit.Commercial General Liability, including contractual liability on an occurrence form withcombined bodily injury and property damage limits of not less than 5,000,000 peroccurrence, 5,000,000 per project general aggregate and 5,000,000 Products liabilityand Completed Operations. Products and Completed Operations coverage shall extend forthree years beyond completion of Tenant Improvement. Policy shall not contain exclusionsrelating to (a) contractual liability, (b) independent contractors, (c) gravity related injuriesand (d) injuries sustained by an employee of an insured or any insured. Limits may besatisfied through a combination of Commercial General Liability, Umbrella Liability andExcess Liability policies. Any deductible shall be the responsibility of the Contractor.Commercial General Liability, Umbrella Liability and Excess Liability policies shall nameProperty Owner, any Fee Owner, Landlord and Managing Agent as additional insuredutilizing both forms CG2010 and CG2037 or their equivalents. Definition of AdditionalInsured shall include all subsidiary and affiliated entities and their respective members,partners, officers, directors, shareholders, consultants, employees, servants, agents,representatives and designees. Further, coverage for Additional Insureds shall apply on aprimary and non-contributory basis irrespective of any insurance whether collectible or not.All such insurance shall be maintained with insurance companies licensed in the statewhere the work is performed with an AM Best’s rating of not less than A- VIII. Said policiesshall contain a provision that coverage may not be canceled, non-renewed or materiallychanged without at least thirty (30) days prior written notice to Landlord. If unable toendorse policy, Contractor shall be responsible for providing notice.Contractor shall not begin work until it has (1) furnished Certificates of Insurance toLandlord on Accord Form 25 evidencing all terms noted above; and (2) executed PropertyOwners Agreement with Tenant Contractor, as provided under Exhibit attached hereto.*Note that item (F) is necessary only if the Lease Agreement does not include an indemnification provision.Newmark – Lease Agmt and Indemn Lang – July 30 2015

[Include the following as an exhibit to the lease:]EXHIBITPROPERTY OWNER’S AGREEMENT WITH TENANT’S CONTRACTOR230 Fifth Avenue, New York, NY 10001In consideration for permission to work at (“Premises”),the Contractor agrees to the following:Contractor, its subcontractors and sub-subcontractors shall not commence work until it hasobtained all insurance referred to herein and provided proof as set forth and has been approved by230 Fifth Avenue Associates, LLC("Owner").Contractor and its subcontractors and sub-subcontractors shall secure, pay for and maintain thefollowing insurance policies in full force and effect during the term of the agreement:(1)Property Insurance upon all tools, material and equipment (owned, borrowed or leased bythe Contractor or their employees) to the full replacement value thereof during the full termof this contract. This insurance shall insure against damage or loss caused by fire and allother perils covered by a standard “All Risk” insurance policy. Contractor agrees to waiveits right of subrogation against Owner, owners agent and consultants. Failure of theContractor to secure and maintain adequate coverage shall not obligate Owner or itsagents or employees for any losses.(2)Workers Compensation affording coverage under the Workers Compensation laws of theNew YorkState of (Stateof operations) and Employers Liability coverage subject to alimit of no less than 1,000,000 each employee, 1,000,000 each accident, and 1,000,000 policy limit.(3)Commercial General Liability Insurance written on ISO form CG00 01 10/01 with limits of 1,000,000 per occurrence Bodily Injury and Property Damage Combined, 1,000,000 peroccurrence Personal & Advertising Injury, 1,000,000 aggregate Products and CompletedOperations Liability and 2,000,000 General (per project) Aggregate. The policy shall bewritten on an occurrence basis. Any deductible shall be the responsibility of the contractor.The policy shall not contain exclusions relating to:(a)contractual liability(b)independent contractors(c)gravity related injuries(d)injuries sustained by employee of an insured or any insuredPolicy shall be endorsed to name Owner, any Fee Owner, Landlord, Managing Agents,Owners Lender (if required), Newmark & Company Real Estate, Inc. d/b/a Newmark GrubbKnight Frank and Newmark Family Properties, LLC and all other entities that may bereasonably required as "Additional Insured" utilizing ISO Forms CG2010 and CG2037.Definition of Additional Insured shall include all officers, directors and employees of thenamed entity, its agents and consultants. Further, insurance policy shall provide coverageNewmark – Lease Agmt and Indemn Lang – July 30 2015

for the "Additional Insured" on a primary and non-contributory basis irrespective of anyother insurance, whether collectible or not.Completed Operations coverage shall remain in force for not less than three (3) years aftercompletion of the work.(4)Automobile Liability Insurance for Bodily Injury and Property Damage in the amountof 1,000,000 combined and covering all owned, non-owned and hired vehicles.Policy shall include Owner as additional insured.(5)Umbrella Liability Insurance for the total limit purchased by Contractor but, not less than a 5,000,000 limit providing excess coverage over all limits and coverages noted inparagraph 2, 3, and 4 above. This policy shall be written on an "occurrence" basis andshall cover Owner, its Managing Agent, Owners Lender (if required) and all other entitiesthat may be reasonably required as "Additional Insured". Coverage for the "AdditionalInsured" shall apply on a primary and non-contributory basis irrespective of any otherinsurance, whether collectible or not.All policies (except automobile) shall allow for a Waiver of Subrogation in favor of Owner, any FeeOwner, Landlord, Managing Agents, Owners Lender (if required), Newmark & Company RealEstate, Inc. d/b/a Newmark Grubb Knight Frank and Newmark Family Properties, LLC.All policies noted in above shall be written with insurance companies licensed to do business inthe State where the Premises are located and rated no lower than A-8 in the most currentedition of A.M. Best's Property-Casualty Key Rating Guide.(6)EVIDENCE (NOTICES) OF COMPLIANCEAll policies shall be endorsed to provide that in the event of cancellation, nonrenewal or material modification, Owner shall receive thirty (30) days prior writtennotice thereof.Contractor shall furnish Owner with Certificates of Insurance no later than (5) daysprior to commencement of work and upon Owner’s request, shall provide ownerwith complete copies of the aforementioned policies including all endorsementsattached thereto evidencing compliance with all insurance provisions noted above.All Certificates and policy termination notices should be delivered via certified mailto:230 Fifth Avenue Associates, LLC230 Fifth Ave, Suite 1018New York, NY 10001FAILURE TO COMPLY WITH ANY OF THE REQUIREMENTS NOTED ABOVE WILLRESULT IN A BREACH OF THIS CONTRACT BY THE CONTRACTOR.Newmark – Lease Agmt and Indemn Lang – July 30 2015

(7)INDEMNIFICATION/HOLD HARMLESSThe Contractor shall, to the fullest extent permitted by law defend, indemnify andhold Owner, any Fee Owner, Landlord, Managing Agents, Owners Lender (ifrequired), Newmark & Company Real Estate, Inc. d/b/a Newmark Grubb KnightFrank and Newmark Family Properties, LLC their partners, directors, members,officers, employees, servants, representatives, consultants and agents harmlessfrom and against any and all claims, loss, (including attorneys' fees, witnesses' feesand all court costs), damages, expense and liability (including statutory liability),resulting from injury and/or death of any person or damage to or loss of anyproperty arising out of any negligent or wrongful act, error, omission, breach of anystatue, code or rule or breach of contract, in connection with the operations of theContractor, its subcontractors and sub-subcontractors. The foregoing indemnityshall include injury or death of any employee of the Contractor or subcontractor andshall not be limited in any way by an amount or type of damages, compensation orbenefits payable under any applicable Workers Compensation, Disability Benefitsor other similar employee benefits acts. This clause shall survive the expiration ortermination of this contract and the work.By:ContractorName, TitleDate:By:OwnerJane Gural-Senders, Executive DirectorName, TitleDate:Newmark – Lease Agmt and Indemn Lang – July 30 2015

Jul 30, 2015 · Newmark – Lease Agmt and Indemn Lang – July 30 2015 Tenant shall obtain Landlord’s prior written consent to any renovation, addition, installation, improvement or alteration, hereinafter referred to as “Tenant improvements”. Tenant shall cause its Contracto

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