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R2016-35 AUTHORIZING REAL ESTATE TRANSFER 130 North Franklin
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R2016-35 AUTHORIZING REAL ESTATE TRANSFER 130 North Franklin
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Last modified
5/16/2016 1:23:04 PM
Creation date
4/5/2016 4:42:05 PM
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Resolution/Ordinance
Res Ord Num
R2016-35
Res Ord Title
AUTHORIZING REAL ESTATE TRANSFER FOR PROPERTY LOCATED AT 130 NORTH FRANKLIN STREET DECATUR, ILLINOIS
Approved Date
4/4/2016
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A, Praperty insurancc including Contents and Fixed Equipment, Vaivahl� Papers, Fine <br /> Arts, Data Pracessing Systems and Media. This coverage shall include, c;asualty <br /> insurance coverage against physical loss vr damage to the Leas�.�d Premises, including <br /> without�imiting the generality of the foregoing, fire and extended coverage,vandalism, <br /> malicious mischief, and against other risks as may bc: deerneri necessary or ad�7sable <br /> by the City in an amaunt equal to the replacement velue of the Leased Premises and <br /> Library Building(including replacement to Library's leaseho3d unprovements,fixtures <br /> and agpurtenances that are in existence as of the execution date caf this Lease). <br /> B. Cammercial Liability insurance Package Policy including General LiaMility,Errors and <br /> Omissions, L-mployment Practices, Sexual Harassrnent, Sexuai Abus�and Automubite <br /> Liability,each with an annua( limit of Ten Million Dollazs(�l 4,OtX},{}�0.00). <br /> C. Autc�rnobiie Physical Damage with limits equal tr�the actual c:ash��atue of the vehicle. <br /> L�. Employee Theft'Crime with liznits af Five Hundred Thousand Dollars{5500,000.(3U) <br /> E. Equiptnent Breaitdown Insurance with a total limit of One Hundrec! Miltion Dollars <br /> ($I 00,004,0�.00). <br /> F Vl'orkers Compensation Insurance wiih a limit of F�fty Milliun Dollars <br /> ($SO,QO(},OOt).UO) and Employers Liability with a limit of One Miltion Dollars <br /> (�1,OOO,t}�0.(}0}. <br /> Notwiths�tanding the foregoing, the costs of insurance coverage allacated tv the Library shall be <br /> only for those costs and coverages related directly to the Libraz��'s owmership of the contents of <br /> the Leased Premises ar specifically related to Library functions. <br />
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