Approval to Demolish. If in the opinion of the Owner the replacement, rebuilding, restoration or repair of the Buildings which has been damaged or destroyed is impractical because of the financial costs involved or because of the particular nature of the Buildings, the Owner shall, in writing within forty (40) days of giving the Trust notice under section 8.1, request the Trust’s approval to demolish the Buildings. In the event that the Trust approves or is deemed to approve the demolition of the Buildings, the Owner shall be entitled to retain any insurance proceeds payable to it as a result of the damage to or destruction of the Buildings and to demolish the Buildings.
Approval to Demolish. If in the opinion of the Owner the replacement, rebuilding, restoration or repair of the Building which has been damaged or destroyed is impractical because of the financial costs involved or because of the particular nature of the Building, the Owner shall, in writing within forty (40) days of the giving of the notice under section 7.1, request the Town’s approval to demolish the Building. In the event that the Town approves or is deemed to approve the demolition of the Building, the Owner shall be entitled to retain any insurance proceeds payable to it as a result of the damage to or destruction of the Building and to demolish the Building.
