At the cost of the Villa owner, shall obtain and shall maintain in full force and effect throughout the entire term hereof, a policy or policies of insurance, in standard "all risk" form, including fire suppression systems, vandalism and malicious mischief coverage, covering the Leasehold Premises and the contents of the improvements, including furniture, fixtures and equipment in an amount equal to full replacement value sufficient to repair and restore the covered property to substantially as new condition.