Common use of FIRE AND OTHER HAZARDS Clause in Contracts

FIRE AND OTHER HAZARDS. In the event that the Premises, or the major part hereof, are destroyed by fire, lightning, storm or other casualty, the Landlord, at its option, may forthwith repair the damage to such Premises at its own cost and expense. The rental thereon shall cease as to that portion of the Premises so destroyed until the completion of such repairs and the Landlord will immediately refund the pro rata part of any such rentals paid in advance by the Tenant prior to such destruction; should the Premises be only partly destroyed, so that the major part thereof is usable by the Tenant, then the full rental shall not xxxxx, and such injury or damage shall be restored by the Landlord as speedily as is practicable. If Landlord elects not to rebuild the Premises then this Lease shall terminate.