DAMAGE BY FIRE, ETC. If any part of the premises shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord and Landlord shall proceed with reasonable diligence subsequent to the collection by Landlord of insurance proceeds, and in a manner consistent with the provisions of any underlying lease and any underlying mortgage, to repair such damage, and if any part of the premises shall be rendered untenantable by reason of such damage, the annual fixed rent payable hereunder, to the extent that such fixed rent relates to such part of the premises and such abatement is in excess of the annual rate of any other existing abatement of fixed rent relating thereto under any other covenant, agreement, term, provision or condition of this Lease, shall be abated for the period from the date of such damage to the date when such part of the premises shall have been made tenantable or to such earlier date upon which the full term of this Lease with respect to such part of the premises shall expire or terminate, unless such fire or other casualty shall have resulted from the negligence of Tenant or the employees, licensees or invitees of Tenant. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof. Tenant understands that Landlord will not carry insurance of any kind on Tenant's property, to wit, Tenant's goods, furniture or furnishings or any fixtures, equipment, improvements, installations or appurtenances removable by Tenant as provided in this Lease, and that the Landlord shall not be obligated to repair any damage thereto or replace the same. If substantial alteration or reconstruction of the Building shall, in the opinion of Landlord, be required as a result of damage by fire or other casualty (whether or not the premises shall have been damaged by such fire or other casualty), then this Lease and the term and estate hereby granted may be terminated by Landlord giving to Tenant within 90 days after the date of such damage written notice specifying a date, not less than 30 days after the giving of such notice, for such termination. In the event of the giving of such notice of termination, this Lease and the term and estate hereby granted shall expire as of the date specified therefor in such notice with the same effect s if such date were the date hereinbefore specified for the expiration of the full term of this Lease, and the ...
DAMAGE BY FIRE, ETC. Lessee agrees that it will, during the preliminary and original terms hereof and during any renewal terms, at its expense, take out and keep in effect upon the leased premises, fire insurance with extended coverage endorsement, in an amount sufficient to prevent Lessor and Lessee from becoming coinsurers under provisions of applicable policies of insurance but in any event, in an amount equal to not less than eighty per centum (80%) of the "insurable value" of the building improvements thereon, and boiler and pressure vessel insurance on all equipment, parts thereof and appurtenances attached or connected to the leased premises which by reason of their use or existence are capable of bursting, erupting, collapsing or exploding, in the minimum amount of $500,000 for damage to property resulting from such perils, in each case written by a responsible insurance company or insurance companies authorized to do an insurance business in the state in which the leased premises are located; said policy or policies of insurance to bear a first mortgagee endorsement in favor of the Beneficiary, and to provide that payment for any losses covered under or by said policy or policies of insurance shall be made to Lessor and/or Lessee and/or Beneficiary, as their respective interests may appear. In the event of loss of or damage to said building improvements by fire or other casualty during the preliminary or original terms or any renewal term which shall not result in the termination of this Lease as hereinafter in this Article Eleventh provided, Lessee agrees, promptly after any such damage by fire or other casualty, and at its expense, to rebuild or repair said building improvements or construct a new building on the leased premises in conformity with the requirements of Article Sixth hereof, so that, after completion of such repair, the building
DAMAGE BY FIRE, ETC. (a) If there is major damage affecting a large number of units, the board will examine the situation and propose a solution. The membership will make the final decision in a members' meeting.
(b) If only one or a small number of units are damaged, the board will consult with the members living in the units to deal with the situation. If the members do not agree with the proposed solution, the membership will make the final decisions in a members' meeting. These decisions will have priority over the Unit Allocation By- law (for example, in questions about priority on a waiting list). The board and members will consider questions such as the following: $ Should the unit be repaired? $ How quickly? $ When will the member(s) be required to move out? $ When will the member(s) be entitled to move back? $ Will there be any charges to the member(s) during the period? $ Are there any available units that the member(s) can occupy until their unit is repaired? Should there be any priority on the co-op's internal or external waiting list?
(c) The co-op does not have to provide a housing unit, or pay for increased housing charges, or rent to an outside landlord, or any other costs, because of damage beyond those covered by the co-op=s insurance for which the co-op receives proceeds.
DAMAGE BY FIRE, ETC. 12 13 Condemnation ..................................................
DAMAGE BY FIRE, ETC. (a) If the Demised Premises or any part thereof shall be destroyed or damaged by fire (except where such fire has been caused by the fault or negligence of the Tenant) earthquakes, riot, civil commotion or Act of God or other inevitable cause without default of the Tenant so as to render the Demised Premises, in the opinion of the relevant authorities to be unfit for occupation and use by the Tenant then in such an event, the Tenant shall have the right to determine the Tenancy by giving a notice in writing to the Landlords within fourteen (14) days upon receipt of the written confirmation by the relevant authorities whereupon the Landlords shall refund the Deposit to the Tenant within thirty (30) days of receipt of the Tenant's notice of termination.
(b) In the event that the Tenant fails to exercise the right as provided for under Clause 6.02(a) within fourteen (14) days upon receipt of the said written confirmation by the relevant authorities then the rent hereby covenant to be paid or a fair proportion hereof according to the nature and extent of the damage sustained shall be suspended from the date of such destruction or damage (hereinafter referred to as the "DESTRUCTION DATE") until the Demised Premises shall again be rendered fit for occupation and use by the Tenant within two (2) months from the Destruction Date.
DAMAGE BY FIRE, ETC. If the leased premises are destroyed, or damaged to an extent so as to render them wholly unfit for the purposes for which they are leased, by fire or other perils which would be covered by fire and extended coverage insurance, this lease shall automatically terminate, provide such destruction or damage is not caused by the neglect or design of Lessee. If, however, the leased premises are damaged by fire or such other perils and can be repaired within one hundred twenty (120) days after the date of such fire or other casualty caused by such other perils, this lease shall not terminate and Lessor shall give notice to Lessee, within thirty (30) days after such fire or such other casualty, that Lessor will repair such damage, at Lessor's cost, within said one hundred and twenty (120) day period, in which case Lessee shall be entitled to a reduction or remission of rent such as shall be just and proportionate, but shall not be entitled to any other damages, provided that if Lessor fails to complete such repairs within said one hundred and twenty (120) day period, because of causes not due to the fault or design of Lessor, this lease shall not terminate and Lessee shall not be entitled to damages, but shall be entitled only to a further just and proportionate reduction or remission of rent.
DAMAGE BY FIRE, ETC. In the event that any of the Improvements shall be damaged or destroyed by fire or any other hazard, risk or casualty whatsoever (such damaged or destroyed Improvements being herein called the "Damaged Improvements"), then Tenant shall give prompt notice thereof to Landlord, and, unless this Lease is terminated as expressed in Section 17.04 hereof, Tenant shall, as soon as possible, at Tenant's cost and expense, restore, replace and repair the Damaged Improvements to the condition that existed immediately prior to the fire or other casualty. Such work by Tenant shall be done pursuant to plans, specifications and a work schedule which shall be subject to Landlord's prior approval, which approval shall not be unreasonably withheld, conditioned or delayed.
DAMAGE BY FIRE, ETC. In the event that the Demised Premises are destroyed or damaged by fire, the elements, or casualty, and provided no Event of Default is existing, then provided the casualty is insured and to the extent the net proceeds of recovery are available and received by Landlord, Landlord shall restore the Demised Premises to the condition existing immediately prior to the date of such damage or destruction and subject to applicable zoning and building laws then in existence. Tenant may elect either to (a) terminate this Lease if Landlord fails to restore the Demised Premises to a condition substantially suitable for Tenant’s intended use within six (6) months of said damage or destruction or (b) in the event Landlord is obligated to restore the Demised Premises hereunder, restore the Demised Premises and be immediately reimbursed by Landlord for all cost and expense for such restoration undertaken by or at Tenant’s direction.
DAMAGE BY FIRE, ETC. 11 ARTICLE 8. Condemnation . . . . . . . . . . . . . . . . . . . . . . . . . 13
DAMAGE BY FIRE, ETC. 21.1 Landlord shall maintain all insurance policies deemed by Landlord to be reasonably necessary or desirable and relating in any manner to the protection, preservation or operation of the Premises, including by not limited to, standard fire and extended coverage insurance covering the Premises in an amount not less than ninety percent (90%) of the replacement cost thereof insuring against the perils of fire and lightning and including extended coverage, or, at Landlord's option, all risk coverage and, if Landlord so elects, earthquake, flood and wind coverages and Tenant shall pay, as additional rent, the cost of such policies upon demand by Landlord. Such insurance shall be for the sole benefit of Landlord and under its sole control. Tenantcy shall not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained by Landlord hereunder unless Landlord is included as a loss payee thereon. Tenant shall immediately notify Landlord whenever any such separate insurance is taken out and shall promptly deliver to Landlord the policy or policies of such insurance.
21.2 In the event the Premises or Building are damaged by fire or other cause and in Landlord's reasonable estimation such damage can be materially restored within Two Hundred Thirty (230) days, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (45) days from the date of such damage, Landlord shall notify Tenant, in writing, of Landlord's reasonable estimation of the length of time within which materials restoration can be made, and Landlord's determination shall be binding on Tenant. For purposes of this
