Tenant Insurance
All tenants are required to carry insurance in accordance with the terms of the Lease Agreement. A TENANT Sample Certificate of Insurance can be found in the FORMS section of this manual and can be used as a reference to ensure the correct certificate holder and additional insured parties are reflected on your certificate. Please have your insurance carrier forward a copy to the Property Management Office upon execution of your Lease. This insurance must be in place prior to any move or installation of items not included in your initial build out.
Insurance Requirements for Tenant’s Vendors
Tenant shall maintain insurance coverage per their Lease Agreement at all times during the term (and prior to the term with respect to activities of tenant under their lease at the building), and each vendor shall maintain minimum insurance coverage outlined below at all times when the vendor performs work in or delivers to the building. Tenant’s vendors (moving companies, construction contractors, etc.) must provide an original Certificate of Insurance to the Property Management Office prior to the work requested. Notify any vendor regarding these requirements prior to your negotiations. See VENDOR Sample Certificate of Insurance in the FORMS section showing:
- General Liability coverage of at least $2,000,000 limits;
- Auto Liability coverage including all owned, non-owned and hired vehicles with combined single limits of at least $1,000,000;
- Worker’s compensation coverage with minimum Employers Liability limits of $5,000,000; and
- Excess Liability (Umbrella) coverage with limits of at least $5,000,000 of performing.
- If performing improvements/alterations to the Company’s suite, Builder’s Risk coverage or an Installation Floater will also be required.
- CCI-MBM XVI, LP would also be named as Loss Payee as their interests may appear.
- The following shall be listed as Certificate Holders on the certificate:
CCI-MBM XVI, LP
c/o Transwestern Property Company, SW GP, L.L.C. d/b/a Transwestern (Manager)
1900 West Loop South
Suite 1175
Houston, Texas 77027
Also:
- CCI-MBM XVI, LP and Transwestern must also be named as Additional Insureds on the General Liability and Auto Liability policies.
- A Waiver of Subrogation in favor of CCI-MBM XVI, LP and Transwestern must be reflected on the General, Auto, and Worker's Compensation policies.
- All coverages provided by the vendor shall be primary to any coverage carried by CCI-MBM XVI, LP and Transwestern.
- A Certificate of Insurance evidencing these coverages shall be furnished to the Property Management Office prior to commencement of work.
- Failure to provide the Insurance certificate will result in delay of work.
In addition, tenant and vendor will indemnify and save CCI-MBM XVI, LP and Transwestern harmless from and against all claims, demands and causes of action of every kind in character arising in favor of vendor’s employees, Property Management Office’s employees or other third parties as a result of bodily injury, personal injury, death or damage to property in any way resulting from willful or negligent acts or omissions of vendor, its agents, employees, representatives or subcontractors. The vendor shall be responsible for all damages and losses sustained by them to their tools and equipment utilized in the performance of all work thereunder.
Each contractor and subcontractor participating in Tenant's Work shall guarantee that their work will be free from any and all defects in workmanship and materials for the period of time, which customarily applies, in good contracting practice, but in no event for less than one (1) year after the acceptance of the work by tenant and Property Management Office. The aforesaid guarantees of each such contractor and subcontractor shall include the obligation to repair or replace in a thoroughly first-class and workmanlike manner, and without any additional charge, all defects in workmanship and materials. All warranties or guarantees as to materials or workmanship on or with respect to tenant's work shall be contained in the contracts and subcontracts for performance of tenant's work and shall be written so that they shall inure to the benefit of CCI-MBM XVI, LP and tenant as their respective interests may appear. Such warranties and guarantees shall be so written that either can directly enforce them and tenant shall give to Property Management Office any assignment or other assurance necessary to effectuate the same.