All leases include a provision requiring Tenants to have public liability, fire and extended coverage insurance for all Tenant belongings located in the Tenant’s premises. Tenant must also maintain general liability and property damage insurance designating the following as “Additional Insureds”:
Liberty Place Owner LP (Owner), Paramount Group, Inc.
(Managing Agent, PGREF V Liberty Place Investors GP LLC, PGREF V Holdco LP, PGREF V Holdco GP LLC, PGREF V (Core) Parallel Fund (Cayman), L.P., Paramount Group Real Estate Fund V (Core), L.P., Paramount Group Real Estate Fund V (CIP), L.P., are included as additional Insureds.
The Certificate of Insurance must also contain agreements by each insurance company providing that such coverage will not be materially changed or canceled with no less than thirty (30) days prior written notice to Paramount Group, Inc.
Certificate of Insurance
All policies shall be taken out with insurers acceptable to Paramount Group, Inc. The moving company shall provide and deliver Certificates of Insurance to Paramount Group, Inc. at least ten (10) days prior to any moving operation. All policies shall state that at least thirty (30) days prior written notice will be delivered to Paramount Group Inc. by the insurer prior to termination, cancellation, or material change of such insurance.