Repair of Improvements. Damage caused by the Purchaser’s operations to culverts, waterlines, fences, roads, bridges, gates, cattleguards, signs, and all other improvements must be adequately repaired or replaced.
Repair of Improvements. (a) Except as provided in Section 7.02(b), in the event any buildings or improvements situated on the Property by Tenant are damaged or destroyed by fire, earthquake, tsunami, or other casualty, Tenant shall at Tenant’s expense restore the same to good and tenantable condition or shall remove the same as soon as is reasonably possible, but in no event may the period of restoration exceed 18 months nor may the period of removal exceed 45 days.
(b) Unless Tenant is excused from the obligation under this paragraph, if the Required Improvements or any part thereof are damaged or destroyed by fire, earthquake, tsunami, or other casualty, rendering the Required Improvements totally or partially inaccessible or unusable, Tenant shall at Tenant’s expense restore the Required Improvements to substantially the same condition as they were in immediately before such damage, provided that:
(1) if the cost of repairing or restoring the Required Improvements, less any available insurance proceeds not reduced by applicable deductibles and coinsurance, exceeds 10% of the replacement cost of the Required Improvements, then Tenant may terminate this Lease by giving notice to Landlord of Tenant’s election to terminate within 15 days after determining the restoration cost and replacement cost, and this Lease shall terminate as of the date of such notice;
(2) if the repair or restoration of the Required Improvements would be contrary to law, either party may terminate this Lease immediately by giving notice to the other party; or
(3) if such damage or casualty to the Required Improvements occurs within three years before the end of the Term, Tenant may, in lieu of restoring or replacing the Required Improvements, terminate this Lease by giving written notice of termination to Landlord within 120 days after such damage or casualty. Nothing in this paragraph relieves Tenant of the obligation to surrender the Property upon the expiration or earlier termination of the Term in the condition required by Section 3.03.
Repair of Improvements. If during the term of this Lease the Premises, the building in which the Premises are located, or any fixtures or improvements of the Premises (collectively, the “Improvements”) are damaged or destroyed by fire or other casualty, Landlord shall repair or restore the Improvements but only to the extent that insurance proceeds are available to pay for such repair or restoration work. The work of repair or restoration, which shall be completed with due diligence, shall be commenced within a reasonable time after the damage or loss occurs. To the extent that such damage or destruction interferes with Tenant’s ability to use the Premises, as determined by Landlord, rent shall be partially abated by fifty percent (50%) after the damage or destruction of the Improvements until the repair or restoration of the Improvements has been completed. Notwithstanding any language to the contrary in this Lease, Tenant shall be responsible, at Tenant’s own cost, to repair any and all damage caused by Tenant (or by any of Tenant’s employees, guests, contractors, or invitees) to any of the Improvements. Tenant shall not be relieved of its obligation to pay the full amount of rent due under
