Common use of INSURANCE, FIRE OR OTHER CASUALTY Clause in Contracts

INSURANCE, FIRE OR OTHER CASUALTY. Landlord agrees to maintain fire and extended coverage insurance covering the Project in an amount not less than 80% of the “replacement cost” thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rental, extended by Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state. Subject to the provisions of this Section 15, such insurance shall be for the sole benefit of Landlord and under its sole control. Landlord shall also maintain commercial general liability insurance, with policy limited acceptable to Landlord, with respect to Landlord’s activities and operations at the Project. Tenant agrees to maintain a policy or policies of “all risk” extended coverage insurance on all of its personal property, including removable trade fixtures, office supplies and movable office furniture and equipment, located on the Premises, in an amount equal to full replacement cost and endorsed to provide that Tenant’s insurance is primary in the event of any overlapping covering with the insurance carried by Landlord. Such insurance shall be maintained at the expense of Tenant and, payment for losses thereunder shall be made solely to Tenant or the mortgagees of Tenant as their interests appear. Tenant shall, prior to occupancy of the Premises and at Landlord’s request from time to time, provide Landlord with a current certificate of insurance evidencing Tenant’s compliance with this Section 15. Tenant shall obtain the agreement of Tenant’s insurers to notify Landlord that a property insurance policy is due to be canceled or expired at least thirty (30) days prior to such cancellation or expiration. In the event that the Premises should be damaged or destroyed by fire, tornado or other casualty to such an extent that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date on which such repairs commence, then Landlord or Tenant may at its option terminate this Lease, in which event the rent shall be abated during the unexpired portion of this Lease effective with the date of such damage. Landlord shall notify Tenant (the “Casualty Notice”) in writing within thirty (30) days of the occurrence of such damage as to whether the damage is capable of being completely repaired within one hundred eighty (180) days of the occurrence. If the Casualty Notice indicates that such repair and restoration will require in excess of one hundred eighty (180) days, then such notification must be accompanied by a certification by an independent licensed architect having significant experience in the design and construction of office/tech buildings in the Dallas, Texas area (an “Architect”), which certification must state the estimated period required to repair or restore such damage (the “Estimated Repair/Restoration Period”). If such damage to the Property or any portion thereof shall materially and adversely interfere with the conduct of Tenant’s business, as reasonably determined by Tenant and Landlord, and the Estimated Repair/Restoration Period is in excess of one hundred eighty (180) days after the occurrence of such casualty, Tenant or Landlord may, by written notice to the other within forty five (45) days after the date of such casualty, terminate this Lease as of the date of occurrence of such damage. In the event the Premises should be damaged by fire, tornado or other casualty, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord or Tenant does not elect to terminate this Lease, in either such event Landlord shall, at its sole cost and expense, rebuild or repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition in which they were immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Project or the Premises. In the event that the Premises are totally untenantable, Landlord shall xxxxx the rent during the time the Premises are unfit for occupancy. If the Premises are not totally untenantable, Landlord shall allow Tenant a fair diminution of rent during the time the Premises are partially unfit for occupancy. If such damage can be repaired within one hundred eighty (180) days and Landlord fails to repair or restore such damage within such period, then Tenant may terminate this Lease by giving thirty (30) days’ prior written notice to Landlord. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or any Improvements located thereon requires that the insurance proceeds be applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon all rights and obligations hereunder shall cease and terminate. Landlord and Tenant do each hereby release and discharge the other party and any officer, agent, employee and representative of such party from any liability for loss or damage to property caused by fire or other casualty for which insurance is required to be carried by the injured party under the terms of this Lease.

INSURANCE, FIRE OR OTHER CASUALTY. Landlord agrees to maintain fire and extended coverage insurance covering the Project in an amount not less than 80% of the “replacement cost” thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rental, extended by Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state. Subject to the provisions of this Section 15, such insurance shall be for the sole benefit of Landlord and under its sole control. Landlord shall also maintain commercial general liability insurance, with policy limited acceptable to Landlord, with respect to Landlord’s activities and operations at the Project. Tenant agrees to maintain a policy or policies of “all risk” extended coverage insurance on all of its personal property, including removable trade fixtures, office supplies and movable office furniture and equipment, located on the Premises, in an amount equal to full replacement cost and endorsed to provide that Tenant’s insurance is primary in the event of any overlapping covering with the insurance carried by Landlord. Such insurance shall be maintained at the expense of Tenant and, payment for losses thereunder shall be made solely to Tenant or the mortgagees of Tenant as their interests appear. Tenant shall, prior to occupancy of the Premises and at Landlord’s request from time to time, provide Landlord with a current certificate of insurance evidencing Tenant’s compliance with this Section 15. Tenant shall obtain the agreement of Tenant’s insurers to notify Landlord that a property insurance policy is due to be canceled or expired at least thirty (30) days prior to such cancellation or expiration. In the event that the Premises should be damaged or destroyed by fire, tornado or other casualty to such an extent that rebuilding or repairs cannot be completed within one hundred eighty ONE HUNDRED TWENTY (180120) days after the date on which such repairs commence, then Landlord or Tenant may at its option terminate this Leaselease, in which event the rent Basic Rental and Additional Rent shall be abated during the unexpired portion of this Lease lease effective with the date of such damage. Landlord shall notify Tenant (the “Casualty Notice”) in writing within thirty (30) days of the occurrence of such damage as to whether the damage is capable of being completely repaired within one hundred eighty (180) days of the occurrence. If the Casualty Notice indicates that such repair and restoration will require in excess of one hundred eighty (180) days, then such notification must be accompanied by a certification by an independent licensed architect having significant experience in the design and construction of office/tech buildings in the Dallas, Texas area (an “Architect”), which certification must state the estimated period required to repair or restore such damage (the “Estimated Repair/Restoration Period”). If such damage to the Property or any portion thereof shall materially and adversely interfere with the conduct of Tenant’s business, as reasonably determined by Tenant and Landlord, and the Estimated Repair/Restoration Period is in excess of one hundred eighty (180) days after the occurrence of such casualty, Tenant or Landlord may, by written notice to the other within forty five (45) days after the date of such casualty, terminate this Lease as of the date of occurrence of such damage. In the event the Premises should be damaged by fire, tornado or other casualtycasualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty ONE HUNDRED TWENTY (180120) days after the date of such damage, or if the damage should be more serious but Landlord or Tenant does not elect to terminate this Leaselease, in either such event Landlord shall, at its sole cost and expense, shall within sixty (60) days after the date of such damage commence to rebuild or repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition in which they were immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Project or the PremisesPremises and Landlord shall not be obligated to replace any improvements whose cost was in excess of the credit provided by Landlord to Tenant under Section 6 of this lease. In the event that the Premises are totally untenantable, Landlord shall xxxxx the rent during the time the Premises are unfit for occupancy. If the Premises are not totally untenantable, Landlord shall allow Tenant a fair diminution of rent during the time the Premises are partially unfit for occupancy. If With respect to the previous two sentences, if the casualty was caused by Tenant, its agents, employees, licensees or invitees, Basic Rental and Additional Rent shall be abated only to the extent Landlord is compensated for such damage can be repaired within one hundred eighty (180) days and Landlord fails to repair or restore such damage within such periodby loss of rents insurance, then Tenant may terminate this Lease by giving thirty (30) days’ prior written notice to Landlordif any. Notwithstanding anything herein to the contraryforegoing, (i) in the event the holder of any indebtedness secured by mortgagee under a mortgage or deed of trust covering trust, security agreement or mortgage on the Premises or any Improvements located thereon requires Project should require that the insurance proceeds be applied used to retire the mortgage debt or (ii) in the event that the Project is damaged to such indebtedness, then an extent that Landlord does not deem it feasible to rebuild same (even though the Premises might not have been substantially damaged) Landlord shall have the right no obligation to terminate rebuild and this Lease shall terminate upon notice to Tenant. Any insurance which may be carried by delivering written notice of termination to Landlord or Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon all rights and obligations hereunder shall cease and terminate. Landlord and Tenant do each hereby release and discharge the other party and any officer, agent, employee and representative of such party from any liability for against loss or damage to property caused by fire the Project or other casualty to the Premises shall be for which the sole benefit of the party carrying such insurance is required to be carried by the injured party and under the terms of this Leaseits sole control.

INSURANCE, FIRE OR OTHER CASUALTY. Landlord agrees to maintain fire and extended coverage insurance covering the Project in an amount not less than 80% of the “replacement cost” thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rental, extended by Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state. Subject to the provisions of this Section 15, such insurance shall be for the sole benefit of Landlord and under its sole control. Landlord shall also maintain commercial general liability insurance, with policy limited acceptable to Landlord, with respect to Landlord’s activities and operations at the Project. Tenant agrees to maintain a policy or policies of “all risk” extended coverage insurance on all of its personal property, including removable trade fixtures, office supplies and movable office furniture and equipment, located on the Premises, in an amount equal to full replacement cost and endorsed to provide that Tenant’s insurance is primary in the event of any overlapping covering with the insurance carried by Landlord. Such insurance shall be maintained at the expense of Tenant and, and payment for losses thereunder shall be made solely to Tenant or the mortgagees of Tenant as their interests appear. Tenant shall, prior to occupancy of the Premises and at Landlord’s request from time to time, provide Landlord with a current certificate of insurance evidencing Tenant’s compliance with this Section 15. Tenant shall obtain the agreement of Tenant’s insurers to notify Landlord that a property insurance policy is due to be canceled or expired at least thirty (30) days prior to such cancellation or expiration. In the event that the Premises should be damaged or destroyed by fire, tornado or other casualty to such an extent that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date on which such repairs commence, then Landlord or Tenant may at its option terminate this Lease, in which event the rent shall be abated during the unexpired portion of this Lease effective with the date of such damage. Landlord shall notify Tenant (the “Casualty Notice”) in writing within thirty (30) days of the occurrence of such damage as to whether the damage is capable of being completely repaired within one hundred eighty (180) days of the occurrence. If the Casualty Notice indicates that such repair and restoration will require in excess of one hundred eighty (180) days, then such notification must be accompanied by a certification by an independent licensed architect having significant experience in the design and construction of office/tech buildings in the Dallas, Texas area (an “Architect”), which certification must state the estimated period required to repair or restore such damage (the “Estimated Repair/Restoration Period”). If such damage to the Property or any portion thereof shall materially and adversely interfere with the conduct of Tenant’s business, as reasonably determined by Tenant and Landlord, and the Estimated Repair/Restoration Period is in excess of one hundred eighty (180) days after the occurrence of such casualty, Tenant or Landlord may, by written notice to the other within forty five (45) days after the date of such casualty, terminate this Lease as of the date of occurrence of such damage. In the event the Premises should be damaged by fire, tornado or other casualty, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord or Tenant does not elect to terminate this Lease, in either such event Landlord shall, at its sole cost and expense, rebuild or repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition in which they were immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Project or the Premises. In the event that the Premises are totally untenantable, Landlord shall xxxxx the rent during the time the Premises are unfit for occupancy. If the Premises are not totally untenantable, Landlord shall allow Tenant a fair diminution of rent during the time the Premises are partially unfit for occupancy. If such damage can be repaired within one hundred eighty (180) days and Landlord fails to repair or restore such damage within such period, then Tenant may terminate this Lease by giving thirty (30) days’ prior written notice to Landlord. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or any Improvements located thereon requires that the insurance proceeds be applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon all rights and obligations hereunder shall cease and terminate. Landlord and Tenant do each hereby release and discharge the other party and any officer, agent, employee and representative of such party from any liability for loss or damage to property caused by fire or other casualty for which insurance is required to be carried by the injured party under the terms of this Lease.

INSURANCE, FIRE OR OTHER CASUALTY. Landlord agrees to maintain fire and extended coverage an “all risk” insurance policy covering the Project Leasehold Improvements in an amount not less than 80% of equal to the “replacement cost” thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rentalrent, extended by a Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state State in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on or risks located within such state. Subject to the provisions of this Section 15paragraph, such insurance shall be for the sole benefit of Landlord and under its sole control. Landlord shall also maintain commercial general liability insurance, with policy limited acceptable to Landlord, with respect to Landlord’s activities and operations at the Project. Tenant agrees to maintain a policy or policies pay to Landlord Landlord’s cost of “all risk” extended coverage maintaining such insurance, together with such other insurance on all of its personal property, including removable trade fixtures, office supplies as Landlord deems reasonable and movable office furniture and equipment, located on the Premises, in an amount equal to full replacement cost and endorsed to provide that Tenant’s insurance is primary in the event of any overlapping covering with the insurance carried by Landlordprudent. Such insurance shall be maintained at the expense of Tenant and, payment for losses thereunder Said payments shall be made solely to Landlord immediately upon presentation to Tenant or the mortgagees of Tenant as their interests appear. Tenant shall, prior to occupancy of the Premises and at Landlord’s request from time to time, provide Landlord with a current certificate of insurance evidencing Tenant’s compliance with this Section 15. Tenant shall obtain statement setting forth the agreement of Tenant’s insurers to notify Landlord that a property insurance policy is due to be canceled or expired at least thirty (30) days prior to such cancellation or expirationamount due. In the event that any such amount is not paid within twenty (20) days after the Premises presentation to Tenant of the amount so due, the unpaid amount shall bear interest at the Maximum Rate from the date of such presentation until paid by Tenant. Any payment to be made pursuant to this paragraph with respect to the year in which this Lease expires or otherwise terminates shall bear the same ratio to the payment which would be required to be made for the full year as the part of such year covered by the term of this Lease bears to a full year. If the Leasehold Improvements should be damaged or destroyed by fire, tornado or other casualty to such an extent that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date on which such repairs commence, then Landlord or Tenant may at its option terminate this Lease, in which event the rent shall be abated during the unexpired portion of this Lease effective with the date of such damage. Landlord shall notify Tenant (the “Casualty Notice”) in writing within thirty (30) days of the occurrence of such damage as to whether the damage is capable of being completely repaired within one hundred eighty (180) days of the occurrence. If the Casualty Notice indicates that such repair and restoration will require in excess of one hundred eighty (180) days, then such notification must be accompanied by a certification by an independent licensed architect having significant experience in the design and construction of office/tech buildings in the Dallas, Texas area (an “Architect”), which certification must state the estimated period required to repair or restore such damage (the “Estimated Repair/Restoration Period”). If such damage to the Property or any portion thereof shall materially and adversely interfere with the conduct of Tenant’s business, as reasonably determined by Tenant and Landlord, and the Estimated Repair/Restoration Period is in excess of one hundred eighty (180) days after the occurrence of such casualty, Tenant or Landlord may, by shall give immediate written notice thereof to the other within forty five (45) days after the date of such casualty, terminate this Lease as of the date of occurrence of such damage. In the event the Premises should be damaged by fire, tornado or other casualty, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord or Tenant does not elect to terminate this Lease, in either such event and Landlord shall, at its sole cost and expense, rebuild or repair the Premises and shall proceed with reasonable diligence to restore the Premises rebuild and repair such improvements to substantially the same condition in which they were immediately existed prior to the happening of the casualtysuch damage or destruction, except that Landlord shall not be required to rebuild, repair repair, or replace any part of the furniturepartitions, equipmentfixtures, fixtures additions and other improvements which may have been placed in, on or about the Premises by Tenant and except that Tenant shall pay to Landlord, upon demand, any applicable deductible amount specified under Landlord’s insurance. The Rent payable hereunder, except to Initial: the extent covered by insurance, shall in no event relate by reason of damage or other tenants within the Project or the Premisesdestruction. In the event that If any improvements situated on the Premises are totally untenantableshould be damaged or destroyed by any casualty other than a peril covered by the insurance to be provided hereunder, Landlord Tenant shall xxxxx at its sole cost and expense thereupon proceed with diligence to rebuild and repair such improvements to substantially the rent during the time the Premises are unfit for occupancy. If the Premises are not totally untenantable, Landlord shall allow Tenant a fair diminution of rent during the time the Premises are partially unfit for occupancy. If condition in which they existed prior to such damage can be repaired within one hundred eighty (180) days and Landlord fails to repair or restore such damage within such period, then Tenant may terminate this Lease by giving thirty (30) days’ prior written notice destruction subject to Landlord’s approval of the plans and specifications for such rebuilding and repairing. Notwithstanding anything herein to the contrary, in the event (i) that there are less than four (4) years remaining on the Lease Term at the time the Premises are damaged for destroyed (and Tenant does not elect to extend the Lease Term as hereafter provided) and (ii) the holder of any indebtedness secured by a mortgage or deed of trust covering the Building or the Premises or any Improvements located thereon requires that the insurance proceeds be applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon all rights and obligations hereunder (other than those which survive the termination of this Lease) shall cease and terminate. Landlord and Tenant do each hereby release and discharge If, however, there are more than four (4) years remaining on the other party and any officerLease Term at the time the Premises are damaged or destroyed (or if less than four (4) years remain but the Lease Term is extended as here after provided), agent, employee and representative then the insurance proceeds in case of such party from any liability for loss or damage shall be applied on the account of the obligation of Landlord to property caused restore the damage or destruction pursuant to this paragraph 15. In the event (A) less than four (4) years remain on the Lease Term at the time the Premises are damaged or destroyed and (B) the holder of any indebtedness secured by fire a mortgage or deed of trust covering the Building or the Premises requires that the insurance proceeds be applied to such indebtedness, then the Tenant shall have the option, which shall be exercised (if at all) within thirty (30) days after Tenant receives notice of the occurrence of items (A) and (B) and Landlord’s determination of the “fair rental value” of the Premises as hereinafter set forth, to extend the Lease Term (without affecting Tenant’s options to further extensions pursuant to paragraph 45 hereof) to that date which is four (4) years following the date of the damage or destruction to the Premises. In such case, the Basic Rental for that period of time extending beyond the Expiration Date (as set forth in paragraph 1[d] hereof) shall be the “fair rental value” of the Premises at the time of the casualty, as determined by Landlord in its sole but reasonable discretion after evaluating, among other casualty things, the prevailing rental rates for which insurance is required to be carried by the injured party under the terms buildings of this Leasesimilar quality, size, utility and location.

INSURANCE, FIRE OR OTHER CASUALTY. In addition to the insurance requirements of Rider 2 during construction, Landlord agrees to maintain fire and extended coverage insurance covering the Project Improvements on the Premises in an amount not less than 80100% of the “"replacement cost” " thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto, insuring against the perils of fire, lightning, vandalism, malicious mischief and loss of rental, extended by Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state. Subject to the provisions of this Section 159, such insurance shall be for the sole benefit of Landlord and under its sole control. Landlord shall also maintain commercial general liability insurance, with commercially reasonable policy limited limits acceptable to LandlordLandlord and its lender, with respect to Landlord’s 's activities and operations at the Project. Tenant agrees to maintain a policy or policies of “all risk” extended coverage insurance on all of its personal property, including removable trade fixtures, office supplies and movable office furniture and equipment, located on the Premises, in an amount equal to full replacement cost and endorsed to provide that Tenant’s insurance is primary in the event of any overlapping covering with the insurance carried by Landlord. Such insurance shall be maintained at the expense of Tenant and, payment for losses thereunder shall be made solely to Tenant or the mortgagees of Tenant as their interests appear. Tenant shall, prior to occupancy of the Premises and at Landlord’s request from time to time, provide Landlord with a current certificate of insurance evidencing Tenant’s compliance with this Section 15. Tenant shall obtain the agreement of Tenant’s insurers to notify Landlord that a property insurance policy is due to be canceled or expired at least thirty (30) days prior to such cancellation or expiration. In the event that the Premises should be damaged or destroyed by fire, tornado or other casualty to such an extent that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date on which such repairs commence, then Landlord or Tenant may at its option terminate this Lease, in which event the rent shall be abated during the unexpired portion of this Lease effective with the date of such damage. Landlord shall notify Tenant (the “Casualty Notice”) in writing within thirty (30) days of the occurrence of such damage as to whether the damage is capable of being completely repaired within one hundred eighty (180) days of the occurrence. If the Casualty Notice indicates that such repair and restoration will require in excess of one hundred eighty (180) days, then such notification must be accompanied by a certification by an independent licensed architect having significant experience in the design and construction of office/tech buildings in the Dallas, Texas area (an “Architect”), which certification must state the estimated period required to repair or restore such damage (the “Estimated Repair/Restoration Period”). If such damage to the Property or any portion thereof shall materially and adversely interfere with the conduct of Tenant’s business, as reasonably determined by Tenant and Landlord, and the Estimated Repair/Restoration Period is in excess of one hundred eighty (180) days after the occurrence of such casualty, Tenant or Landlord may, by written notice to the other within forty five (45) days after the date of such casualty, terminate this Lease as of the date of occurrence of such damageBuilding. In the event the Premises should be damaged by fire, tornado or other casualty, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord or Tenant does not elect to terminate this Lease, in either such event casualty covered by Landlord's insurance Landlord shall, except as hereinafter provided, at its Landlord's sole cost and expenseexpense (but with the use of all available insurance proceeds, rebuild or repair the Premises and shall if any), proceed with reasonable diligence to restore the Premises rebuild and repair such improvements to substantially the same condition in which they were immediately existed prior to the happening of the casualtysuch damage or destruction, except that with such reasonable changes as may be agreed to between Landlord and Tenant. Landlord shall not be required obligated to rebuildagree to any changes which will, repair or replace any part in its sole and absolute discretion, reduce the value of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Project or the Premises. In the event that the Premises are totally untenantable, Landlord shall xxxxx not be obligated to commence any rebuilding or repairing until such time as it has (i) received the rent during entire insurance award and (ii) Tenant has paid to Landlord the time the Premises are unfit for occupancy. If the Premises are not totally untenantable, Landlord shall allow Tenant a fair diminution amount of rent during the time the Premises are partially unfit for occupancy. If any deductible with respect to such damage can insurance as well as all costs which Landlord's architects and contractors project will be repaired within one hundred eighty (180) days incurred in excess of such insurance award and Landlord fails to repair or restore such damage within such period, then Tenant may terminate this Lease by giving thirty (30) days’ prior written notice to Landlorddeductible. Notwithstanding anything herein to the contraryforegoing, in the event that damage or destruction to the holder of any indebtedness secured by a mortgage or deed of trust covering Building occurs and (a) the repairs would take more than 180 days to complete to permit Tenant to occupy the Premises or any Improvements located thereon requires that (b) more than seventy-five percent (75%) of the insurance proceeds be applied to such indebtednessreplacement value of the Building is destroyed, then either Landlord or Tenant shall have the right be permitted to terminate this Lease by delivering written notice of termination given to Tenant other within fifteen thirty (1530) days after the occurrence of such requirement is made by casualty unless Tenant properly exercises any available lease extensions, in which event the Parties shall proceed under the remaining provisions of this Section 9. In the event of such holdertermination, whereupon all rights Tenant shall pay to Landlord the amount of any deductible with respect to the insurance, the insurance proceeds attributable to the damage or destruction resulting from such casualty (save and obligations hereunder except any portion thereof properly attributable to personal property that Xxxxxx would be permitted to remove at the end of the Lease Term) shall cease and terminate. be paid to Landlord and Tenant do each hereby release and discharge the other party and any officerinsured mortgagee, agent, employee and representative of such party from any liability for loss or damage to property caused by fire or other casualty for which insurance is required to be carried by the injured party under the terms of this Leaseas their interests may appear.