This is an extract of our Repair Insurance Leases Model Answer document, which we sell as part of our Property Law and Practice Notes collection written by the top tier of Cambridge And Oxilp And College Of Law students.
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Repair of Unit and Insurance??????
Clause 4 - Tenant covenants to observe Tenant's Covenant Clause 4.5.1 -Mini Mee covenants to keep and maintain the Unit in good and substantial repair and condition (Excluding damage covered by the Insured Risk) Clause 4.5.2 -Mini Mee covenants to make good any disrepair (within 3 months) Clause 4.5.3 - Self Help Clause Clause 1.1 Definitions - Defines "Unit" as Unit 3 of the Centre. Clause 1.1 Definitions - Defines "Centre" as Oak Lane Shopping Centre. Clause 1.1 Definitions - Defines "Insured Risks" - state that it does (e.g. pipes, malicious etc..)/does not cover the damage e.g. Acts of God. Clause 6.2.2 (Tenant's Insurance Covenants)- Tenant Covenants to give LL immediate written NOTICE on become aware of circumstances that may lead to an insurance claim. Clause 6.1.1 (ii) (The Landlord's Covenants) - Landlord covenants to insure against loss or damage by the Insured Risk. Clause 6.1.5 (The Landlord's Covenants) - Landlord covenants to reinstate as qucly as reasonably practicable if any part of the Centre is destroyed or damaged by an Insured Risk (subject to Mini-Mee's fault). Clause 6.2.1 (i) (Tenant's Insurance Covenants)- Tenant pays an Insurance Percentage of the Insurance under 6.1.1 (within 10 (Clause days 8at NOTICE (8.1 in writing;
8.2 served at LL's demand) registered office; 8.3.1 Clause 1.1 Definitions - Defines "Insurance Percentage" personally; to be 4.5%
8.3.2 if by post deemed served on 3rd working day)
What happens if Insurance pays out?
? Clause 4 - Tenant covenants to observe Tenant's Covenant
? Clause 6.1.5 (The Landlord's Covenants)- The LL has an obligation to reinstate (bring Building to a state where Mini Mee can continue to occupy the Unit as intended under the terms of the lease) the Centre or any part of the Centre that has been destroyed or damaged by the insured risks.
? Clause 6.1.2 (The Landlord's Covenants)- to insure against loss of the Principal Rent payable under the Lease arising from damage to the Unit by the Insured Risk for 3 years.
? Clause 1.1 Definitions - Defines "Principal Rent" PS32.550 pa
? Clause 6.2.1 (ii) (Tenant's Insurance Covenants)- Tenant to pay all the amount which LL spends on insurance pursuant to Clause 6.1.2 (within 10 days at LL's demand)
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