SR 05:219 - Laserfiche WebLink

(3) rPI Anjnotmp.nt. As used in this Section, CPI Adjustment shall mean the ratio, the numerator of which is the Consumer Price Index - for the U.S. and selected Areas for Urban Wage Eamers and Clerical Workers, allltems (1982-1984-100) published by the U.S. Department of Labor, Bureau of Labor Statistics ("Consumer Price Index") most recently published as ofthe date the Lessee determines the Inflation Adjustment and the denominator of which is the Consumer Price Index most recently published on the date the Lessee last determined the Inflation Adjustment. If the Bureau of Labor Statistics ceases to use the 1982-1984 average of 100 as the basis of computation, then the ratio shall be adjusted so as to reach the same figure that would have been arrived at had such other price index been in effect on the other dates that Lessee determined the Inflation Adjustment. Ifthe Consumer Price Index is no longer published or issued, then a reliable government or other non-partisan publication creating an index to determine inflation sh\lll be used and the ratio shall be adjusted so as to reach the same figure that would have been arrived at had such other price index been in effect on the other dates that Lessee determined the Inflation Adjustment. (4) Tnonron~p. Donor Amonnt. For the first five (5) years from the Date Of This Lease, the Insurance Dollar Amount shall, as applicable, equal the dollar amount set forth in subsections (b), (c), and (d). Thereafter, the Insurance Dollar Amount shall be equal to the applicable Inflation Adjustment that was last calculated by the Lessee. 5.2 Tnl;;l.l1rnn~p. P()11~;p.s:. ~nr1 PTf~m;l1ms:. (a) The liability policies required by this Lease shall name the Lessor, its council members, officers, agents, and employees as additional insureds. The property insurance policy shall name the Lessor as a loss payee, as its interest may appear. (b) To the extent obtainable, any policy of insurance shall provide that any change or cancellation of said policy shall be made in writing and sent to the Lessee and the Lessor at their respective principal offices at least thirty (30) days before the effective date of change or cancellation. (c) Upon the Lessor's request at any time during the Lease Term, the Lessee shall provide certificates of insurance evidencing compliance with the requirements of this Section, and shall provide complete copies of such insurance policies, including a separate endorsement naming the Lessor as loss payee or the Lessor, its council members, officers, agents and employees as additional insureds, as applicable. 5.3 pT'()('pp.ns:. ()fTns:.llr~nr.p. (a) For so long as any Other Loan, the City Loan or the City HELP Loan on the Project is outstanding: All fire and standard risk or extended coverage (casualty) insurance proceeds shall be applied to the payment of the costs of repairing or rebuilding that part of the Project damaged or destroyed if(i) the Lessee agrees in writing within ninety (90) days after payment of the proceeds of insurance that such repair or rebuilding is economically feasible (ii) each Lender with an outstanding Other Loan permits such repair or rebuilding, provided that the extent of the Lessee's obligation to restore the Project shall be limited to the amount of the 144\105\153233.23 18