Common use of DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS Clause in Contracts

DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS. a. If the building on the Premises shall be damaged by fire or other casualty prior to the last five (5) years of the original term of this Lease, the Premises shall be restored to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of the insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxty. b. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term of this Lease, or during any option period of this Lease, to the extent of fifty percent (50%) or more of the insurable value of the building, Tenant may, at Tenant's option, to be evidenced by notice given to Landlord within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date of the damage or destruction and, in such event, all of the insurance proceeds shall be paid over to the Landlord. c. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term of this Lease, or during any option period of this Lease, to the extent of less than fifty percent (50%) of the insurable value of the building, then Tenant shall be obligated to restore the Premises to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxty.

DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS. a. If the building Landlord's improvements on the Leased Premises shall be damaged or rendered untenantable by fire or other casualty casualty, the Landlord shall within thirty (30) days from the date of said damage or destruction commence to repair or replace said improvements, according to the condition and use of the property prior to said damage or destruction so that the Tenant may continue with occupancy and the same shall be completed within one hundred twenty (120) days thereafter. However, Landlord's obligation to pay for cost of rebuilding or repairing any such damage or destruction to the improvements located on the Leased Premises shall be limited to the insurance monies payable by reason of such damage or destruction and if the cost of repairing or replacing said improvements according to the condition and use of the Leased Premises prior to said damage shall exceed this amount this Lease shall terminate immediately and Landlord shall be entitled to keep all insurance proceeds as compensation for damage done to the Leased Premises unless Tenant, upon written notification by Landlord of the amount of the excess elects in writing to itself pay such excess. It is further agreed that the Rent herein required to be paid shall xxxxx during said period of untenantability or if the improvements shall be damaged but not rendered untenantable thereby, the Rent shall xxxxx in an amount appropriate to the decrease in the utility of the Leased Premises. In the event Landlord has not commenced construction or has not notified Tenant that he intends to commence construction within thirty (30) days from the date of such damage, then, and in that event, Tenant may either (a) terminate this Lease by giving written notice of such termination in accordance with Article 28 hereof, or (b) thereupon and without further notice to Landlord commence to repair or replace said building with Tenant having access to the insurance proceeds available by reason of such damage or destruction. In the event Tenant makes said repairs or replacements, Landlord shall be liable to the Tenant for any and all costs and expenses of Tenant in making the same and Landlord shall be required to reimburse Tenant for any such costs and expenses of Tenant for any costs which Tenant expends for replacement or repair of the improvements plus 12% (which shall not be in excess of the insurance proceeds payable by reason of such damage or destruction). If Landlord fails to reimburse Tenant within thirty (30) days after receiving Tenant's invoice Tenant shall have the right to deduct this amount of the invoice from Rent payments due to Landlord and/or institute legal action at law or equity to recover its expense. It is agreed by the parties that if the building cannot be replaced or repaired within one hundred twenty (120) days after such damage to the building, due to the inability of either party to obtain materials or labor needed, strikes or acts of God or governmental restrictions that would prohibit, limit, or delay said construction, then the time for completion of said repairs and replacement shall be extended accordingly, provided, however, that in any event, if the repair or replacement of the building has not been completed within a period of one hundred eighty (180) days from the date of such damage or destruction, Tenant may, at its option, and in addition to other remedies available to Tenant, elect to terminate this Lease. In the event of any damage or destruction occurring in the last five six (56) years months of the original term of this Lease, the Premises shall be restored to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of the insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxty. b. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term of this Lease, Lease or during any option period extension of this Leasethe term, to the extent of fifty percent (50%) or more of the insurable value of the building, Tenant may, at Tenant's its option, to be evidenced by notice in writing given to Landlord within thirty (30) days after the occurrence of such damage and destruction, in lieu of repairing or destructionreplacing such building, elect to terminate this Lease as of the date of the said damage or destruction and, in such event, all of the insurance proceeds shall be paid over to the Landlorddestruction. c. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term of this Lease, or during any option period of this Lease, to the extent of less than fifty percent (50%) of the insurable value of the building, then Tenant shall be obligated to restore the Premises to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxty.

DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS. a. If the building on the Premises shall be wholly or partially damaged or destroyed by fire or other casualty prior to the last five (5) years of the original term of this Lease, Tenant shall restore the Premises shall be restored to the same condition as prior to the damage. It Insurance proceeds will be made available to Tenant for that purpose, but it is understood and agreed that if the cost of the restoration exceeds the amount of the insurance recovery, the Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxtyuntenanxxxxxity. b. If the building on the Premises shall be damaged or destroyed by fire or other casualty during the last five (5) years of the original term of this Lease, or during any option period of this Lease, to the extent of fifty percent (50%) or more of the insurable value actual replacement cost of the buildingbuilding (herein called "substantial damage", Tenant may, at Tenant's option, to be evidenced by notice given to Landlord within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date of the damage or destruction and, in such event, all of the insurance proceeds shall be paid over to the Landlord. c. . The extent of damage or destruction shall be determined by an independent architect mutually acceptable to Landlord and Tenant. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term of this Lease, or during any option period of this Lease, to the extent of suffers less than fifty percent (50%) of substantial damage or if the insurable value of building suffers substantial damage and Tenant does not terminate the buildingLease by written notice to Landlord within the time period specified above, then Tenant shall be obligated to restore the Premises to the same condition as prior to the damage. It Insurance proceeds will be made available to Tenant for that purpose, but it is understood and agreed that if the cost of the restoration exceeds the amount of the insurance recovery, the Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxtyuntenanxxxxxity. c. In the event that Tenant is obligated by the terms and provisions hereof to repair, restore or reconstruct the building or other improvements situated on the Premises but fails to commence to do so within six (6) months following the casualty event and thereafter diligently prosecute the same to completion within twelve (12) months following such casualty, Landlord may terminate this Lease by written notice to Tenant, such termination to be effective immediately.

DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS. a. If In case the building on whole or any part of the improvements situated upon the Leased Premises shall be damaged partially or totally destroyed by fire or other insured casualty prior to during the last five (5) years of the original term of this Lease, the Premises same shall be restored by LANDLORD without unnecessary delay; provided, however, that all proceeds of insurance (required to the same condition as prior be maintained by TENANT) shall be made available to the damage. It is understood LANDLORD for such purposes and agreed provided further that if the cost of the restoration exceeds LANDLORD'S obligation hereunder shall not exceed the amount of such insurance proceeds, and any excess of cost of repair or restoration over the insurance recoveryamount of such proceeds shall be paid and borne by TENANT. LANDLORD shall complete any restoration of the Leased Premises promptly, Tenant will pay such excessbut in any event within six (6) months following the occurrence of the casualty unless delayed for cause beyond LANDLORD'S control, including inclement weather and acts of god. In no the event will rent abate of damage or destruction requiring major restoration within six (6) months and LANDLORD has not been delayed by cause beyond LANDLORD'S control, then in addition to any other remedy TENANT may have, TENANT shall be entitled to a refund of that fractional portion of rentals paid during any such six (6) month period of untenantxxxxxty. b. If which the building on the Premises numerator shall be damaged the floor area of the Leased Premises which was not used by fire TENANT during the six (6) month period and the denominator shall be the total floor area of the Leased Premises. Notwithstanding the foregoing, in case the damage or other casualty destruction occurs during the last year of the initial term of this Lease and TENANT did not previously exercise its option to extend the term of this Lease for an additional five (5) years year term or in case such damage or destruction occurs during the last year of the original first (1st) five (5) year extended term of this Lease and TENANT has not previously exercised its right to further extend the term of this Lease, then either LANDLORD or during any option period TENANT may terminate this Lease by the giving of this Lease, written notice to that effect to the extent of fifty percent (50%) or more of the insurable value of the building, Tenant may, at Tenant's option, to be evidenced by notice given to Landlord other within thirty (30) days after following the date of the occurrence of such damage or destruction; and in case of such termination all proceeds of insurance with respect to the improvements upon the Leased Premises shall be paid to and shall be the property absolutely of LANDLORD. In case of termination under the provisions of this Article, elect TENANT shall be relieved of liability hereunder referable to terminate this Lease as the period of time subsequent to the date of the such damage or destruction and, in such event, all and prorated amounts shall be refunded. There shall be no abatement of rental on account of or by reason of damage to or destruction of the insurance proceeds shall be paid over to Leased Premises unless this Lease is terminated in accordance with the Landlord. c. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term foregoing provisions of this Lease, or during any option period of this Lease, to the extent of less than fifty percent (50%) of the insurable value of the building, then Tenant shall be obligated to restore the Premises to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxtyArticle.

DAMAGE TO OR DESTRUCTION OF IMPROVEMENTS. a. If In case the building on whole or any part of the Premises improvements situated upon the above-described real estate shall be damaged partially or totally destroyed by fire or other insured casualty prior to during the last five (5) years of the original term of this Leaselease, the Premises same shall be restored by LANDLORD without unnecessary delay; provided, however, that all proceeds of insurance (required to the same condition as prior be maintained by TENANT) shall be made available to the damage. It is understood LANDLORD for such purpose and agreed provided further that if the cost of the restoration exceeds LANDLORD'S obligation hereunder shall not exceed the amount of such insurance proceeds, and any excess of cost of repair or restoration over the insurance recovery, Tenant will pay amount of such excess. In no event will rent abate during any period of untenantxxxxxty. b. If the building on the Premises proceeds shall be damaged paid and borne by fire TENANT. Notwithstanding the foregoing, in case the damage or other casualty destruction occurs during the last five (5) years year of the original initial term of this Lease, or during any lease and TENANT did not exercise its extension option period of this Lease, to the extent of fifty percent (50%) or more of the insurable value of the building, Tenant may, at Tenant's option, to be evidenced by notice given to Landlord within thirty (30) days after following the date of such damage or destruction or in case such damage or destruction occurs during the last year of the extended term of this lease, then either LANDLORD or TENANT may terminate this lease by the giving of written notice to that effect to the other within thirty (30) days following the date of the occurrence of such damage or destruction; and in case of such termination all proceeds of insurance with respect to the improvements upon the demised premises shall be paid to and shall be the property absolutely of LANDLORD. In case of termination under the provisions of this Article, elect TENANT shall be relieved of liability hereunder referable to terminate this Lease as the period of time subsequent to the date of the such damage or destruction and, in such event, all and prorated amounts shall be refunded. There shall be no abatement of rental on account of or by reason of damage to or destruction of the insurance proceeds shall be paid over to demised premises unless this lease is terminated in accordance with the Landlord. c. If the building on the Premises shall be damaged by fire or other casualty during the last five (5) years of the original term foregoing provisions of this Lease, or during any option period of this Lease, to the extent of less than fifty percent (50%) of the insurable value of the building, then Tenant shall be obligated to restore the Premises to the same condition as prior to the damage. It is understood and agreed that if the cost of the restoration exceeds the amount of insurance recovery, Tenant will pay such excess. In no event will rent abate during any period of untenantxxxxxtyArticle.