Common use of Uninsured Damage Clause in Contracts

Uninsured Damage. If, during the term of this Agreement, improvements in or on the Premises are partially or totally destroyed from a risk not covered by the fire and extended coverage insurance described in Section 13.4 herein, thereby rendering said Premises partially or totally inaccessible or unusable, such destruction shall not automatically terminate this Agreement. If, however, the cost of restoration exceeds ten percent (10%) of the lull replacement value of improvements, as said value existed immediately before said destmction, Concessionaire may, at Concessionaire's option, terminate this Agreement by giving written notice to City within sixty (60) days from the date of discovery of such destmction. If Concessionaire elects to terminate as above provided, Concessionaire shall be obligated, unless otherwise directed by City, to demolish all damaged improvements and remove all debris from the Premises at Concessionaire's sole cost. If Concessionaire fails to exercise its right to terminate this Agreement, this Agreement shall continue in lull force and effect for the remainder of the term specified herein and Concessionaire shall restore the Premises to substantially the same condition as they were in immediately before destmction.

Uninsured Damage. If, during the term of this Agreement, improvements Improvements in or on the Premises Assigned Areas are partially or totally destroyed from a risk not covered by the fire and extended coverage insurance described in Section 13.4 23,2 herein, thereby rendering said Premises Assigned Areas partially or totally inaccessible or unusable, such destruction shall not automatically terminate this Agreement. If, however, the cost of restoration exceeds ten percent (10%) of the lull full replacement value of improvements, as said value existed immediately before said destmctiondestruction, Concessionaire may, at Concessionaire's ’s option, terminate this Agreement by giving written notice to City within sixty (60) days from the date of discovery of such destmctiondestruction. If Concessionaire elects to terminate as above provided, Concessionaire shall be obligated, unless otherwise directed by City, to demolish all damaged improvements and remove all debris from the Premises Assigned Areas at Concessionaire's sole cost. If Concessionaire fails to exercise its right to terminate this Agreement, this Agreement shall continue in lull full force and effect for the remainder of the term specified herein and Concessionaire shall restore the Premises Assigned Areas to substantially the same condition as they were in immediately before destmctiondestruction at no additional cost to the City.

Uninsured Damage. If, during the term of this Agreement, improvements in or on the Premises are partially or totally destroyed from a risk not covered by the fire and extended coverage insurance described in Section 13.4 herein, thereby rendering said Premises partially or totally inaccessible or unusable, such destruction shall not automatically terminate this Agreement. If, however, the cost of restoration exceeds ten percent (10%) of the lull full replacement value of improvements, as said value existed immediately before said destmctiondestruction, Concessionaire may, at Concessionaire's option, terminate this Agreement by giving written notice to City within sixty (60) days from the date of discovery of such destmctiondestruction. If Concessionaire elects to terminate as above provided, Concessionaire shall be obligated, unless otherwise directed by City, to demolish all damaged improvements and remove all debris from the Premises at Concessionaire's sole cost. If Concessionaire fails to exercise its right to terminate this Agreement, this Agreement shall continue in lull full force and effect for the remainder of the term specified herein and Concessionaire shall restore the Premises to substantially the same condition as they were in immediately before destmctiondestruction.

Uninsured Damage. If, during the term of this Agreement, improvements in or on the Premises are partially or totally destroyed from a risk not covered by the fire and extended coverage insurance described in Section 13.4 13,4 herein, thereby rendering said Premises partially or totally inaccessible or unusable, such destruction shall not automatically terminate tenninate this Agreement. If, however, the cost of restoration exceeds ten percent (10%) of the lull full replacement value of improvements, as said value existed immediately before said destmctiondestruction, Concessionaire may, at Concessionaire's option, terminate tenninate this Agreement by giving written notice to City within sixty (60) days from the date of discovery of such destmctiondestruction. If Concessionaire elects to terminate as above provided, Concessionaire shall be obligated, unless otherwise directed by City, to demolish all damaged improvements and remove all debris from the Premises at Concessionaire's sole cost. If Concessionaire fails to exercise its right to terminate tenninate this Agreement, this Agreement shall continue in lull frill force and effect for the remainder of the term tenn specified herein and Concessionaire shall restore the Premises to substantially the same condition as they were in immediately before destmctiondestruction.