International Equipment Service, Inc. v. Pocatello Industrial Park Co.

McFADDEN, Justice Pro Tem.

International Equipment Service (IES) entered into a lease agreement with Pocatello Industrial Park Company (PIPCO) wherein IES leased an industrial building from PIPCO for one year. The lease provided that the lessor, PIPCO would maintain the roof and other structural components in good repair. The lease also provided that the lessee would obtain insurance and that, to the extent a loss was insured, the parties waived their right of recovery against each other. 1

In July, 1973, while PIPCO employees were replacing part of the roof, rain leaked into the leased…