Common use of Damage or Destruction of Improvements Clause in Contracts

Damage or Destruction of Improvements. In the event the improvements shall be rendered untenantable by fire or other casualty, landlord shall within one hundred twenty (120) days from the date of said damage or destruction, repair or replace the improvements to substantially the same condition as prior to the damage or destruction. If landlord fails to commence repair of the damage or destruction within thirty (30) days from the date of such damage or destruction, or if the improvements have not been replaced or repaired to such condition within one hundred twenty (120) days, tenant may at tenant's option (to be exercised by written notice to landlord), terminate this lease. The rent herein required to be paid shall xxxxx during the period of such untenantability. If the improvements shall be damaged in part by fire or other casualty, but still remain tenantable, landlord shall repair the improvements to substantially the same condition as prior to the damage. During the period of such repairs and restorations, the lease shall continue in full force and effect, provided, however, that tenant shall be required to pay the rent herein reserved abated by the percentage of area destroyed as compared to the total area herein demised, unless such fire or other casualty is caused by tenant's negligence in which case the rental shall not xxxxx but will continue unaffected during the repair period. In the event that any damage or destruction occurs during the last twelve (12) months of the original term of this lease or any extension of the term, to the extent of fifty (50%) percent or more of the insurable value of the improvements, landlord and tenant may elect to terminate this lease as of the date of the destruction or damage, by giving notice of such election within fifteen (15) days after such damage or destruction. In such event, landlord shall receive the proceeds of the insurance policies without obligation to rebuild or restore the premises, and tenant shall execute any waiver which may be required of it by any insurer or landlord. Any dispute which arises under this Section regarding the negligence of tenant shall be settled by arbitration pursuant to the provisions of Section 6-1. ARTICLE SIX ----------- General Provisions ------------------ Section 6-1. Arbitration. Any controversy or claim arising out of or relating to: (a) the usability of the premises after a taking as provided in Section 5-1; or, (b) the negligence of tenant as provided in Section 5-2; or, (c) the reasonableness of landlord's consent to assignment or subletting as provided in Section 4-9 shall be settled by arbitration in accordance with the rules of the American Arbitration Association. The arbitration decision shall be final and binding upon the parties.

Damage or Destruction of Improvements. In the event the improvements Improvements shall be rendered untenantable by fire or other casualty, landlord Landlord shall within one hundred twenty (120) days from the date of said such damage or destruction, repair or replace the improvements Improvements to substantially the same condition as prior to the damage or destruction. If landlord Landlord fails to commence repair of the damage or destruction within thirty (30) days from the date of such damage or destruction, or if the improvements Improvements have not been replaced or repaired to such condition within one hundred twenty (120) days, tenant may Tenant, at tenantTenant's option (to be exercised by written notice to landlordLandlord), may terminate this leaseLease, or Tenant may cause such repairs to be completed, and any cost or expense incurred by Tenant with respect to such repairs will be immediately reimbursed by Landlord. If Landlord fails to so reimburse Tenant, Tenant, at Tenant's option, may off set the amount of such costs and expenses against the rent due under this Lease. The rent herein required to be paid shall xxxxx during the period of such untenantability. If the improvements Improvements shall be damaged in part by fire or other casualty, but still remain tenantable, landlord Landlord shall repair the improvements Improvements to substantially the same condition as prior to the damage. During the period of such repairs and restorations, the lease Lease shall continue in full force and effect, provided, however, that tenant Tenant shall be required to pay the rent herein reserved abated by the percentage of area destroyed as compared to the total area herein demised, unless such fire or other casualty is caused by tenantTenant's negligence in which case the rental shall not xxxxx but will continue unaffected during the repair period. If Landlord fails to commence repair of the damage or destruction within thirty (30) days from the date of such damage or destruction, or if the Improvements have not been replaced or repaired to such condition within one hundred twenty (120) days, Tenant, at Tenant's option (to be exercised by written notice to Landlord), may terminate this Lease, or Tenant may cause such repairs to be completed, and any cost or expense incurred by Tenant with respect to such repairs will be immediately reimbursed by Landlord. If Landlord fails to so reimburse Tenant, Tenant, at Tenant's option, may off set the amount of such costs and expenses against the rent due under this Lease. In the event that any damage or destruction occurs during the last twelve (12) months of the original term of this lease Lease or any extension of the term, to the extent of fifty (50%) percent or more of the insurable value of the improvementsImprovements, landlord and tenant Landlord or Tenant may elect to terminate this lease Lease as of the date of the destruction or damage, by giving notice of such election within will fifteen (15) days after such damage or destruction. In such event, landlord Landlord shall receive the proceeds of the insurance policies without obligation to rebuild or restore the premisesPremises, and tenant shall execute any waiver which may be required of it by any insurer or landlordLandlord. Any dispute which arises under this Section regarding the negligence of tenant Tenant shall be settled by arbitration pursuant to the provisions of Section 6-1. ARTICLE SIX ----------- General Provisions ------------------ Section 6-1. Arbitration. Any controversy or claim arising out of or relating to: (a) the usability of the premises Premises after a taking as provided in Section 5-1; or, (b) the negligence of tenant Tenant as provided in Section 5-25.2; or, (c) the reasonableness of landlordLandlord's consent to assignment assign or subletting as provided in Section 4-9 9, (d) the resolution of disputes relating to Direct Expenses as provided in Section 2-5, shall be settled by arbitration in accordance with the rules of rule the American Arbitration Association. The arbitration decision shall be final and binding upon the parties.

Damage or Destruction of Improvements. In any case under this Section that Lessee is required or elects to restore the Premises, or the contents, furniture, fixtures or equipment therein, after damage or destruction the Port agrees promptly to execute all adjustment documents and to endorse any proceeds to Lessee and/or Lender. Xxxxxx agrees to keep the Port advised during the adjustment process. In the event case where Lessee is required or elects under this Section to restore the improvements Premises, or the contents, furniture, fixtures or equipment therein and subject to the rights of any Lender set forth in this Lease, the proceeds of insurance shall be rendered untenantable held by Lessee and/or Lender as trust funds to be used for the purpose of restoring the Premises damaged by fire or other casualty. Xxxxxx agrees to use good faith reasonable efforts to have all Lenders agree in relevant loan documents to have insurance proceeds applied to restoration of the Premises. Xxxxxx also agrees that if, landlord nevertheless, a Lender will not so agree but reserves the power to apply all or portions of such proceeds against its loan, then in the event of a loss Lessee shall use diligent, good faith reasonable efforts (including legal action), in consultation with Xxxxxx’s legal counsel and the Port, to cause all proceeds of insurance to be applied to restoration, but not so as to jeopardize Lessee’s interest in the leasehold estate in the good faith reasonable judgment of Xxxxxx’s attorney. In any case under this Section that Lessee elects to terminate this Lease on account of damage or destruction Xxxxxx agrees promptly to execute all adjustment documents and to endorse any proceeds to the Port subject to the rights of Xxxxxx and any Lender as described in this Section. If during the term of this Lease the Improvements are damaged or destroyed by fire or other insured casualty to an extent in excess of 50% of the then replacement cost thereof, Lessee is hereby granted the privilege, upon giving at least 60 days’ prior written notice to the Port (such notice to be given within one hundred twenty (120) 60 days after such damage or destruction), to cancel and annul this Lease; provided, however, that if in such case Lessee shall not so elect to cancel and annul this Lease, it hereby agrees with due diligence to restore the Improvements, and all contents, furniture, fixtures and equipment therein, to a good and tenantable condition notwithstanding any inadequacy of insurance proceeds therefor. If this Lease is canceled or annulled in accordance with this Section, there shall be paid from insurance proceeds any amount which is payable to any Lender. The Port’s interest in the date remainder of the insurance proceeds payable as a result of such damage or destruction shall be determined by applying the ratio which the then expired number of years of the original term of this Lease bears to the original term to the total amount of such insurance proceeds, including the amount thereof paid to Lenders. The phrase "original term" in the preceding sentence shall include options to extend which Lessee exercised before the damage or destruction occurred. The remainder of the insurance proceeds after deducting said amount paid to the Port shall be payable in full to Lessee after first deducting therefrom for the benefit of the Port the difference, if any, between the insurance proceeds which would have been paid to the Port had Lessee maintained all of the insurance coverage required by this Lease and the insurance proceeds actually paid to the Port under the insurance coverage actually maintained by Lessee. In addition to any other requirements to repair or rebuild as may be contained in this Section, in the event the Improvements are damaged or destroyed by fire or other insured casualty to an extent less than 50% of the then existing replacement cost thereof, or in the event the contents, or the furniture, fixtures or equipment are damaged or destroyed to any extent, Lessee with due diligence shall repair or restore any such loss, notwithstanding any inadequacy of insurance proceeds therefor. If during the term of this Lease the Improvements are damaged or destroyed to an extent in excess of 10% of the then replacement cost thereof by a cause not insured against hereunder and by a cause other than Xxxxxx’s willful or intentional and wrongful act or omission, then within 60 days after such damage or destruction, repair Lessee shall elect by written notice delivered to the Port either to repair, reconstruct or replace the improvements damaged Improvements, or to substantially the same condition terminate this Lease as prior to the damage or destruction. If landlord fails to commence repair of the damage or destruction within thirty (30) days from the date of such damage or destruction. If no written notice is delivered to the Port within said 60-day period Lessee conclusively shall be deemed to have elected to repair, reconstruct and replace. If within 30 days after Xxxxxx delivers to the Port a notice to terminate hereunder, the Port delivers to Xxxxxx written notice that the Port agrees to pay all of the cost of reconstruction that exceeds said 10%, Xxxxxx’s election to terminate shall then become ineffective. In all cases that Lessee elects not to terminate this Lease, or is not authorized hereunder to terminate this Lease, Lessee shall repair, reconstruct or replace the damaged Improvements with due diligence and at its sole cost and expense (except to the extent the Port has agreed to pay a portion thereof as provided in the immediately preceding sentence). No election by Xxxxxx to cancel under this Section shall be effective if before the improvements have casualty the Port has given Lessee notice of default and Lessee has not been replaced or repaired cured each such default. If Lessee elects to such condition within one hundred twenty (120) daysterminate this Lease as provided in this Section, tenant may at tenant's option (to be exercised the Port by written notice to landlord)Lessee given within 30 days of the date notice of termination is given by Lessee to the Port, terminate this lease. The rent herein required to be paid shall xxxxx during the period may require Lessee, at Lessee’s sole cost and expense within 90 days of receipt of such untenantability. If notice from the improvements shall be damaged Port to demolish and lawfully dispose of off of Port property part or all of the Improvements and place the Premises in part by fire or other casualtya secure, but still remain tenantable, landlord shall repair the improvements to substantially the same condition as prior to the damage. During the period of such repairs safe and restorations, the lease shall continue in full force and effect, reasonably level condition; provided, however, that tenant in no event shall Lessee be required obligated to pay repair or restore any portion of the rent herein reserved abated Improvements; and provided, further, Lessee, by written notice to the Port given within 30 days of the giving by the percentage Port of area destroyed as compared the written notice specified immediately above, may elect to rescind its notice to the total area herein demised, unless Port canceling this Lease on account of such fire or other casualty is caused by tenant's negligence in which case the rental shall not xxxxx but will continue unaffected during the repair period. In the event that any damage or destruction occurs during and, if such notice is timely given by Lessee, the last twelve (12) months of the original term provisions of this lease or any extension Section shall apply as though Lessee had elected not to cancel this Lease on account of the term, to the extent of fifty (50%) percent or more of the insurable value of the improvements, landlord and tenant may elect to terminate this lease as of the date of the destruction or damage, by giving notice of such election within fifteen (15) days after such damage or destruction. In the event of any damage caused by a risk for which insurance is required hereunder, there shall be no abatement or reduction of rent. In the event of any damage caused by an uninsured casualty, Lessee shall be entitled, except when such eventdamage or destruction results from Xxxxxx’s negligence or other wrongdoing, landlord shall receive to fair and reasonable abatement of Minimum Rent for the proceeds period and to the extent Lessee is deprived of the insurance policies without obligation to rebuild or restore full use of the premises, and tenant shall execute any waiver which may be required Premises as contemplated hereunder. Such abatement of it by any insurer or landlord. Any dispute which arises under this Section regarding the negligence of tenant Minimum Rent shall be settled determined by arbitration pursuant ascertaining the extent to which the provisions of Section 6-1. ARTICLE SIX ----------- General Provisions ------------------ Section 6-1. Arbitration. Any controversy or claim arising out of or relating to: (a) the usability utility to Lessee of the premises after a taking as provided in Section 5-1; or, (b) Premises for the negligence uses permitted by this Lease has been diminished on account of tenant as provided in Section 5-2; or, (c) the reasonableness of landlord's consent to assignment said damage or subletting as provided in Section 4-9 shall be settled by arbitration in accordance with the rules of the American Arbitration Association. The arbitration decision shall be final and binding upon the partiesdestruction.

Damage or Destruction of Improvements. In the event any of the improvements shall be rendered untenantable on a Tract, including but not limited to building signage, are damaged or destroyed by fire or other casualty, landlord the Owner upon whose Tract such improvements, including but not limited to building signage, are located shall immediately remove the debris resulting from such event and, within one hundred twenty a reasonable time thereafter, such Owner shall either: (120i) days from the date of said damage or destruction, repair or replace restore the improvements, including but not limited to building signage, so damaged; (ii) erect other improvements, including but not limited to building signage, in such location; (iii) if the damage is to improvements on the Shopping Center Tract and the Shopping Center Tract Owner elects not to substantially repair or restore such improvements, the Shopping Center Tract Owner shall demolish the damaged portion of such improvements and promptly restore the area to the same standards as the Common Area either as automobile parking and drive area or a landscaped condition as prior (i.e. seeded and mowed), in which event the area shall be maintained in a manner consistent with the Common Area until a replacement building is erected, provided, however, that there shall be no obligation to construct a replacement building at any time; or (iv) if the damage is to improvements on an Outparcel and the Owner of such Outparcel elects not to repair or destructionrestore such improvements, then the Outparcel Owner shall promptly raze and remove such damaged or destroyed improvements and either landscape or pave and maintain any such Outparcel (including concealment of any exposed slab or foundation thereof) in a manner consistent with the Common Area until a replacement building is erected. If landlord fails to commence repair Such Owner shall elect one of the damage or destruction foregoing options within thirty sixty (3060) days from the date of such damage or destructioncasualty and, or if the improvements have not been replaced or repaired to such condition within one hundred twenty (120) daysthereafter, tenant may at tenant's option (to be exercised by written notice to landlord), terminate this lease. The rent herein required to be paid shall xxxxx during the period promptly commence and diligently pursue completion of such untenantabilityoption. If the improvements shall be damaged in part by fire or other casualty, but still remain tenantable, landlord shall repair the improvements With respect to substantially the same condition as prior to the damage. During the period of such repairs and restorations, the lease shall continue in full force and effect, provided, however, that tenant shall be required to pay the rent herein reserved abated by the percentage of area destroyed as compared to the total area herein demised, unless such a fire or other casualty is caused by tenant's negligence in damaging improvements on any Outparcel, within sixty (60) days from the date of such casualty, the Owner of the Outparcel shall give the Shopping Center Owner written notice of which case of the rental shall foregoing options (i), (ii), (iii) or (iv) the Owner of the Outparcel has elected. If the Shopping Center Owner has not xxxxx but will continue unaffected during received any such notice within the repair sixty (60) day period, the Shopping Center Owner may thereafter provide written notice to the Owner of the Outparcel of such failure (the “Notice of Failure to Elect”). In the event that any damage or destruction occurs during the last twelve (12) months Owner of the original term Outparcel does not give the Shopping Center Owner written notice of this lease or any extension its election within thirty (30) days after receipt of the termNotice of Failure to Elect, then the Owner of the Outparcel shall be deemed to have elected option (iv). If the Owner of the Outparcel elects (or is deemed to have elected) option (iv) and does not thereafter promptly commence and diligently pursue completion of such option, the Shopping Center Owner may enter on to the Outparcel for the purpose of promptly commencing and/or diligently pursuing completion of such option, as the case may be. If the Shopping Center Owner incurs any costs or expense (including, without limitation, attorneys' fees and expenses) in effecting such option (iv) on the Outparcel pursuant to the rights provided in this Paragraph 4.6, the Shopping Center Owner may submit an invoice, accompanied by reasonable supporting information, to the extent of fifty (50%) percent or more Owner of the insurable value Outparcel for such costs and expenses incurred. The Owner of the improvements, landlord and tenant may elect to terminate this lease as Outparcel shall reimburse the Owner of Shopping Center Tract the date of amount set forth in the destruction or damage, by giving notice of such election invoice within fifteen (15) days after such damage or destructionreceipt thereof. In such event, landlord shall receive If the proceeds Owner of the insurance policies without obligation Outparcel fails to rebuild or restore reimburse the premisesShopping Center Owner within the fifteen (15) day period, and tenant shall execute any waiver which may be required of it by any insurer or landlord. Any dispute which arises under this Section regarding the negligence of tenant shall be settled by arbitration amount due pursuant to the provisions invoice shall bear interest at the rate of Section 6-1. ARTICLE SIX ----------- General Provisions ------------------ Section 6-1. Arbitrationfifteen percent (15%) per annum, or the highest rate allowed by law, whichever is less, until paid. Any controversy or claim arising out amounts which are owed by the Owner of or relating to: (a) an Outparcel to the usability of Shopping Center Owner pursuant to this Paragraph 4.6 shall constitute a lien against the premises after a taking as provided Outparcel until paid in Section 5-1; or, (b) the negligence of tenant as provided in Section 5-2; or, (c) the reasonableness of landlord's consent to assignment or subletting as provided in Section 4-9 shall be settled by arbitration in accordance with the rules of the American Arbitration Association. The arbitration decision shall be final and binding upon the partiesfull.

Damage or Destruction of Improvements. In the event the improvements Tenant shall be rendered untenantable by fire complete any work of restoration, repair, replacement or other casualty, landlord shall within one hundred twenty (120) days from the date of said damage or destruction, repair or replace the improvements to substantially the same condition as prior rebuilding with respect to the damage or destruction. If landlord fails to commence repair of the damage or destruction within thirty (30) days from the date of such damage or destruction, or if the improvements have not been replaced or repaired to such condition within one hundred twenty (120) days, tenant may at tenant's option (to be exercised by written notice to landlord), terminate this lease. The rent herein Premises required to be paid shall xxxxx during the period performed as a result of such untenantability. If the improvements shall be damaged in part condemnation by fire any applicable governmental authority or other casualty, but still remain tenantable, landlord shall repair the improvements to substantially the same condition as prior to the damage. During the period of such repairs and restorations, the lease shall continue in full force and effect, provided, however, that tenant shall be required to pay the rent herein reserved abated by the percentage of area destroyed as compared to the total area herein demised, unless such fire or other casualty is caused by tenant's negligence in which case the rental shall not xxxxx but will continue unaffected during the repair period. In Term of the event that Lease (the "Restoration Work"), which becomes necessary at any damage or destruction occurs time during the last twelve Term. Whenever Tenant shall be required under the Lease to carry out any Restoration Work, Landlord shall be entitled to receive any applicable Insurance proceeds and condemnation award in trust. Landlord may apply all or any portion of such proceeds to cure a default by Tenant, and shall otherwise disburse, in Landlord's reasonable discretion, such proceeds or awards to Tenant for reimbursement for the costs and expenses of such Restoration Work. With respect to any Restoration Work, Tenant shall (12a) months obtain Landlord's prior written approval of Tenant's construction plans, budget, and schedule; (b) provide Landlord with true and complete certified copies of all permits and authorizations from applicable government authority necessary to complete such Restoration Work; (c) provide Landlord with evidence, satisfactory to Landlord, that Tenant has sufficient insurance coverages and funds earmarked to complete such Restoration Work; and (d) provide Landlord with evidence, satisfactory to Landlord, of payment and performance bonds. Tenant shall carry out any Restoration Work in a good and workmanlike manner, lien free, in accordance with the plans approved by Landlord and in compliance with all applicable building, land use and zoning laws, codes and ordinances and all of the original term of this lease or any extension terms and conditions of the termLease. Accordingly, Tenant shall (a) diligently obtain all permits and authorizations from applicable governmental authority necessary for the Restoration Work at the earliest possible date; (b) commence the Restoration Work at the earliest possible date; and (c) thereafter in a diligent and continuous manner, and in accordance with the construction schedule which has been approved by Landlord, prosecute the Restoration Work to completion at the extent earliest possible date. If Tenant shall fail or neglect at any time to supply sufficient workmen or sufficient materials of fifty (50%) percent proper quality, or more of the insurable value of the improvementsfail in any other respect to prosecute any Restoration Work in a diligent and continuous manner, landlord and tenant then Landlord may elect give notice to terminate this lease as of the date of the destruction or damage, by giving notice Tenant of such election within fifteen (15) failure or neglect. If such failure or neglect continues for 10 days after such damage notice, then Landlord, in addition to all other rights which Landlord may have, shall have the right, but not the obligation, to do any or destruction. In such event, landlord shall receive the proceeds all of the insurance policies without obligation following as Landlord deems necessary to rebuild or restore the premises, and tenant shall execute any waiver which may be required of it by any insurer or landlord. Any dispute which arises under this Section regarding the negligence of tenant shall be settled by arbitration pursuant to the provisions of Section 6-1. ARTICLE SIX ----------- General Provisions ------------------ Section 6-1. Arbitration. Any controversy or claim arising out of or relating tocomplete such Restoration Work: (a) declare a default by Tenant under the usability of the premises after a taking as provided in Section 5-1Lease; or, (b) enter upon the negligence of tenant as provided in Section 5-2Premises; or, (c) provide, or cause to be provided, labor and/or materials upon the reasonableness of landlord's consent Premises; (d) perform, or cause to assignment be performed, any contract; and (e) do or subletting cause to be done, such other acts and things as provided in Section 4-9 Landlord may deem advisable. Landlord shall be settled entitled to reimbursement, out of any Insurance proceeds, condemnation awards, and any other 4 monies held by arbitration Landlord for application to the cost of Restoration Work, for all costs and expenses incurred by Landlord in accordance with the rules of the American Arbitration Associationcompleting any Restoration Work pursuant to this Section. The arbitration decision All such costs and expenses for which Landlord is not so reimbursed shall be final borne by Tenant, in addition to any or all damages to which Landlord shall be entitled under the Lease. Upon Landlord's demand, which may be made from time to time as such costs and binding upon the partiesexpenses are incurred, Tenant shall pay for such costs and expenses as additional Rent.