Reso 2013-2096 - Laserfiche WebLink

Home Browse Search

(c) Damage to or Destruction of the Premises, Pier. If the Premises, Pier, both of them or any part of them shall be destroyed or so damaged by fire, the elements, or other casualty as to render either or both untenantable or unusable, nothing in this Lease shall be deemed or construed to require or obligate LESSOR to repair, rebuild, replace or restore either or both or any portion of the Premises or Pier provided that all insurance proceeds shall first be applied to the repair or replacement of the same Pier or Premises. Rent shall resume 60 days after the Pier and the Premises have been restored to their previous condition, then the Lease shall be terminated effective as of the date of such casualty. Provided the casualty resulting in the damage or destruction was not caused by the negligence or wrongful act or omission of LESSEE, all insurance proceeds payable to LESSEE under its policies shall be retained by LESSEE without any obligation to pay any portion thereof to LESSOR. Upon termination, LESSEE shall surrender the Premises to LESSOR immediately and the parties will have no further obligations to each other hereunder, except as otherwise provided to the contrary in Section 15 of this Lease. SECTION 13. CONDEMNATION/TRANSFER OF PROPERTY FOR OTHER PUBLIC PURPOSES. (a) Total or Partial Taking. If the whole of the Premises, or such portion of them as will make the Premises unusable for the Required Use, shall be taken by any public authority under the power of eminent domain or sold to public authority under threat or in lieu of such taking, the Term shall cease as off the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the Rent and all other charges shall be paid up to the Taking Date with a proportionate refund by LESSOR of any Rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises is taken, but the Premises may be restored to a configuration in LESSEE's reasonable business judgment that will enable the continued use of the Premises for the Required Use, then the Term shall cease only as to the part so taken as of the Taking Date, and LESSEE shall pay Rent and other charges up to the Taking Date, with appropriate credit by LESSOR (toward the next installment of Rent due from LESSEE) of any Rent or charges paid for a period subsequent to the Taking Date. Base Rent, shall be reduced as of the Taking Date in proportion to the amount of the Premises taken. If the Lease is not terminated then LESSOR shall be responsible to reconfigure the Premises into one contiguous space from the condemnation proceeds which shall be accomplished with reasonable diligence after the Taking Date. (b) Award. All compensation awarded or paid upon a total or partial taking of the Premises excluding the value of the leasehold estate created by this Lease shall belong to and be the property of LESSOR without any participation by LESSEE. However, nothing contained in this Lease shall be construed to preclude LESSEE, at its cost, from independently prosecuting any claim directly against the condemning authority in such condemnation proceeding for damage to, or cost of removal of, unattached movable trade fixtures, furniture, and other personal property belonging to LESSEE. 13