Estimate of Construction Work Cost. Before commencing any Construction Work in connection with a Casualty Restoration, and as soon as reasonably practicable and in any event within one hundred eighty (180) days after the damage or destruction, Tenant shall furnish Landlord: (i) plans and specifications for such Casualty Restoration and (ii) an estimate, prepared by the Architect, of the cost and duration of such Construction Work. Such estimate shall include, without limitation, Architect’s and engineer’s fees (and other construction-related soft costs), construction labor costs and the costs of materials, fixtures and equipment, and the schedule for incurring these costs. Landlord shall approve, disapprove or approve with modifications or conditions Tenant’s plans and specifications within thirty (30) days of receipt, which approval shall not be unreasonably withheld, conditioned or delayed; it being understood and agreed that Landlord shall have no approval rights (except as otherwise set forth herein) with respect to Casualty Restoration that are Non-Structural Alterations, Trade Fixtures, Paver Fundraising Work or Decorative Changes (and Tenant shall comply with Article 18 hereof with respect thereto). All plans and specifications with respect to the Premises shall be the property of Landlord in the event this Lease is terminated. The submission to Landlord of the cost estimate shall be for informational purposes only, subject to and in accordance with Section 16.03 hereof. During the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold Amount, Tenant shall provide monthly summaries to Landlord of the progress of the Construction Work. Such summary shall include a breakdown of the applicable costs spent for the Construction Work for such month. Tenant further agrees that Landlord shall have the right, at all reasonable times and upon reasonable advance notice, to inspect the Premises and Improvements and the progress of the Construction Work during the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold Amount. Tenant agrees that its failure to complete any Casualty Restoration (subject to the terms hereof, including, without limitation, the last sentence of Section 11.02(a) hereof) shall be a default under this Lease. Nothing herein shall relieve Tenant of its obligation to submit Payment Certificates as provided in Section 11.04(a) hereof.
