Common use of Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance Clause in Contracts

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 below, if Phase I shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by Developer, Developer shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I to substantially the same condition as Phase I is required to be constructed pursuant to this Agreement, if and to the extent the insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer shall complete the same as soon as possible thereafter so that Phase I can be occupied in accordance with this Agreement. Subject to force majeure delays pursuant to Section 6.3 hereof, in no event shall the repair, replacement, or restoration period exceed one (1) year from the date Developer obtains insurance proceeds unless Authority’s Executive Director, in his/her reasonable discretion, approves a longer period of time. Authority shall cooperate with Developer, at no expense to Authority, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-existing laws of any other governmental agencies with jurisdiction over the Site do not permit the repair, replacement, or restoration, Developer may elect not to repair, replace, or restore Phase I by giving notice to Authority (in which event Developer will be entitled to all insurance proceeds but Developer shall be required to remove all debris from the Site) or Developer may reconstruct such other improvements on the Site as are consistent with applicable land use regulations and approved by the Authority and the other governmental agency or agencies with jurisdiction.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 the provisions below, if Phase I the Project shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by Developer, Developer shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I the Project improvements to substantially the same condition as Phase I is required the Project improvements existed immediately prior to be constructed pursuant to this Agreementthe casualty, if and to the extent the insurance proceeds are available and sufficient to cover the actual cost of repair, replacement, or restoration, and Developer shall complete the same as soon as possible thereafter so that Phase I the Project improvements can be occupied in accordance with this Agreement. Subject to force majeure delays pursuant to as set forth in Section 6.3 hereof1505 herein, in no event shall the repair, replacement, or restoration period exceed one (1) year from the date Developer obtains insurance proceeds unless Authority’s Executive Director, in his/her Authority’s reasonable discretion, approves a longer period of time. Authority shall cooperate with Developer, at no expense to Authority, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-existing laws of any other governmental agencies with jurisdiction over the Site do not permit the repair, replacement, or restoration, Developer may elect not to repair, replace, or restore Phase I the Project Improvements by giving notice to Authority (in which event Developer will be entitled to all insurance proceeds but Developer shall be required to remove all debris from the applicable portion of the Site) or Developer may reconstruct such other improvements on the Site as are consistent with applicable land use regulations and approved by the Authority and the other governmental agency or agencies with jurisdiction.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 306.4 below, as to each Project, if Phase I either Project shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by Developer, Developer shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I the applicable Project to substantially the same condition as Phase I the applicable Project is required to be constructed pursuant to this Agreement, if and to the extent the insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer shall complete the same as soon as possible thereafter so that Phase I the applicable Project can be occupied in accordance with this Agreement. Subject to force majeure delays pursuant to Section 6.3 603 hereof, in no event shall the repair, replacement, or restoration period exceed one (1) year from the date Developer obtains insurance proceeds unless Authority’s Executive Director, in his/her reasonable discretion, approves a longer period of time. Authority shall cooperate with Developer, at no expense to Authority, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-existing laws of any other governmental agencies with jurisdiction over the Site do not permit the repair, replacement, or restoration, Developer may elect not to repair, replace, or restore Phase I the applicable Project by giving notice to Authority (in which event Developer will be entitled to all insurance proceeds but Developer shall be required to remove all debris from the applicable portion of the Site) or Developer may reconstruct such other improvements on the Site as are consistent with applicable land use regulations and approved by the Authority and the other governmental agency or agencies with jurisdiction.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 9.3.4 below, if Phase I B of the Apartment Complex shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by DeveloperTenant, Developer Tenant shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I B of the Apartment Complex to substantially the same condition as Phase I B of the Apartment Complex is required to be constructed pursuant to this AgreementGround Lease, if and to the extent the insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer Tenant shall complete the same as soon as possible thereafter so that Phase I B of the Apartment Complex can be occupied in accordance with this AgreementGround Lease. Subject to force majeure delays pursuant to Section 6.3 Article 23 hereof, in no event shall the repair, replacement, or restoration period exceed one twenty-four (124) year months from the date Developer Tenant obtains insurance proceeds unless Authority’s Executive Director, in his/her reasonable discretion, approves a longer period of time. Authority Landlord shall cooperate with DeveloperTenant, at no expense to AuthorityLandlord, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-then existing laws of any other governmental agencies with jurisdiction over the Site Property do not permit the repair, replacement, or restoration, Developer Tenant may elect not to repair, replace, or restore Phase I B of the Apartment Complex by giving notice to Authority Landlord (in which event Developer Tenant will be entitled to all insurance proceeds but Developer Tenant shall be required to remove all debris from the Siteapplicable portion of the Property) or Developer Tenant may reconstruct such other improvements on the Site Property as are consistent with applicable land use regulations and approved by the Authority City, Landlord and Agency, and the other governmental agency or agencies with jurisdiction.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 9.3.4 below, if Phase I A of the Apartment Complex shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by DeveloperTenant, Developer Tenant shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I A of the Apartment Complex to substantially the same condition as of Phase I A of the Apartment Complex is required to be constructed pursuant to this AgreementGround Lease, if and to the extent the insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer Tenant shall complete the same as soon as possible thereafter so that Phase I A of the Apartment Complex can be occupied in accordance with this AgreementGround Lease. Subject to force majeure delays pursuant to Section 6.3 Article 23 hereof, in no event shall the repair, replacement, or restoration period exceed one twenty-four (124) year months from the date Developer Tenant obtains insurance proceeds unless Authority’s Executive Director, in his/her reasonable discretion, approves a longer period of time. Authority Landlord shall cooperate with DeveloperTenant, at no expense to AuthorityLandlord, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-then existing laws of any other governmental agencies with jurisdiction over the Site Property do not permit the repair, replacement, or restoration, Developer Tenant may elect not to repair, replace, or restore Phase I A of the Apartment Complex by giving notice to Authority Landlord (in which event Developer Tenant will be entitled to all insurance proceeds but Developer Tenant shall be required to remove all debris from the Siteapplicable portion of the Property) or Developer Tenant may reconstruct such other improvements on the Site Property as are consistent with applicable land use regulations and approved by the Authority City, Landlord and Agency and the other governmental agency or agencies with jurisdiction.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 12.3 below, if Phase I shall be the Improvements are totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by Developercasualty, Developer Tenant shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I the Improvements (and any parts of the Premises and the Xxxxxxx X. Xxxxxxxx School Property collaterally damaged by said fire or casualty) to substantially the same condition as Phase I is required to be constructed pursuant to this Agreement, if and existed immediately prior to the extent the casualty, whether or not any insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer restoration . Tenant shall be solely responsible for any costs exceeding any insurance proceeds. Tenant shall complete the same as soon as possible thereafter so that Phase I the Improvements and Programs can continue to be operated and occupied in accordance with this Agreementthe Lease. Subject to force majeure delays pursuant to Section 6.3 hereof, in In no event shall the repair, replacement, or restoration period exceed one (1I) year from the date Developer obtains insurance proceeds of loss unless AuthorityLandlord’s Executive DirectorSuperintendent, or her or his designee, in his/his or her reasonable sole and absolute discretion, approves a longer period of time. Authority Repair or restoration of any affected portion of the Xxxxxxx X. Xxxxxxxx School Property shall be given priority, at District’s request. Landlord shall cooperate with DeveloperTenant, at no expense to AuthorityLandlord, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-existing laws of any other governmental agencies with jurisdiction over the Site Xxxxxxx X. Xxxxxxxx School Property and Premises do not permit the repair, replacement, or restoration, Developer Tenant may elect not to repair, replace, or restore Phase I the Improvements by giving notice to Authority Landlord (in which event Developer Tenant will be entitled to all insurance proceeds but Developer Tenant shall be required to remove all debris from the SiteXxxxxxx X. Xxxxxxxx School Property and the Premises and to restore the Brief Description Property and Premises to approximately their original condition on the date of this Lease) or Developer Tenant may reconstruct such other improvements on the Site Improvements as are consistent with applicable land use regulations and approved by the Authority City, Landlord, and the other governmental agency or agencies with jurisdictionjurisdiction . In the event Tenant elects not to repair, replace, or restore, and gives Landlord notice of such election as provided herein, this Lease shall terminate.

Obligation to Repair and Restore Damage Due to Casualty Covered by Insurance. Subject to Section 3.6.5 306.4 below, if Phase I the Apartment Complex shall be totally or partially destroyed or rendered wholly or partly uninhabitable by fire or other casualty required to be insured against by Developer, Developer shall promptly proceed to obtain insurance proceeds and take all steps necessary to begin reconstruction and, immediately upon receipt of insurance proceeds, to promptly and diligently commence the repair or replacement of Phase I the Apartment Complex to substantially the same condition as Phase I the Apartment Complex is required to be constructed pursuant to this Agreement, if and to the extent the insurance proceeds are sufficient to cover the actual cost of repair, replacement, or restoration, and Developer shall complete the same as soon as possible thereafter so that Phase I the Apartment Complex can be occupied in accordance with this Agreement. Subject to force majeure delays pursuant to Section 6.3 503 hereof, in no event shall the repair, replacement, or restoration period exceed one (1) year from the date Developer obtains insurance proceeds unless Authority’s Executive Director, in his/her reasonable discretion, approves a longer period of time. Authority Agency shall cooperate with Developer, at no expense to AuthorityAuthority or Agency, in obtaining any governmental permits required for the repair, replacement, or restoration. If, however, the then-then- existing laws of any other governmental agencies with jurisdiction over the Site do not permit the repair, replacement, or restoration, Developer may elect not to repair, replace, or restore Phase I the Apartment Complex by giving notice to Authority and Agency (in which event Developer will be entitled to all insurance proceeds but Developer shall be required to remove all debris from the applicable portion of the Site) or Developer may reconstruct such other improvements on the Site as are consistent with applicable land use regulations and approved by the Authority City, Authority, Agency, and the other governmental agency or agencies with jurisdiction.