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1:0:41141811CO K4163 W4
<br />17. LESSEE'S RESTRICTIVE COVENANT. LESSEE hereby expressly warrants,
<br />requests and covenants to LESSOR as follows: LESSEE does not now, and will not during the Term of
<br />this Lease (including any extensions or renewals), directly or through an entity affiliated with LESSEE,
<br />operate the same or a similar business as the business constituting the Permitted Use within the corporate
<br />limits of the City of Sunny Isles Beach. For purposes of this Section, an entity is deemed to be an affiliate
<br />of LESSEE if: (i) such entity has the same manager as LESSEE; (ii) such entity shares 50% or more
<br />common ownership with the LESSEE; or (iii) such entity is owned, controlled, or managed by LESSEE,
<br />or any members or managers of LESSEE.
<br />18. DAMAGES TO LEASED PREMISES. If the Leased Premises shall be partially
<br />damaged by fire or other casualty insured under LESSOR's insurance policies, then upon receipt of the
<br />insurance proceeds, LESSOR shall, except as otherwise provided herein, promptly repair and restore the
<br />Leased Premises (exclusive of improvements or alterations made by LESSEE, LESSEE's trade fixtures,
<br />decorations, signs, and personal property) substantially to the condition thereof immediately prior to
<br />such damage or destruction; limited, however, to the extent of the insurance proceeds received by
<br />LESSOR and the availability of building materials and supplies. If by reason of such occurrence: (i) the
<br />Leased Premises is rendered wholly untenantable; (ii) the Leased Premises is damaged in whole or in
<br />part as a result of a risk which is not covered by LESSOR's insurance policies; (iii) the Leased Premises
<br />is damaged in whole or in part during the last two (2) years of the Term; or (iv) the Property containing
<br />the Leased Premises is damaged (whether or not the Leased Premises is damaged) to an extent of twenty-
<br />five percent (25%) or more of the fair market value thereof, then, in any such circumstance, LESSOR
<br />may elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of
<br />cancellation given to LESSEE within ninety (90) days after the date of such occurrence, and thereupon
<br />this Lease shall terminate. LESSEE shall vacate and surrender the Leased Premises to LESSOR within
<br />fifteen (15) days after receipt of such notice of termination. In addition, LESSEE may also terminate
<br />this Lease by written notice given to LESSOR at any time between the one hundred eighty-first(181st)
<br />and one hundred ninety-sixth (196th) days after the occurrence of any such casualty, if LESSOR has
<br />failed to restore the damaged portions of the Leased Premises to a tenantable condition within one
<br />hundred eighty (180) days of such casualty. However, if LESSOR is prevented by Force Majeure, from
<br />completing the restoration within said one hundred eighty (180) day period, then LESSOR shall have
<br />an additional period beyond said one hundred eighty (180) days equal to the number of days constituting
<br />such Delays in which to complete such restoration work; and LESSEE may not elect to terminate this
<br />Lease until said additional period required for completion has expired, unless such additional period
<br />exceeds an additional sixty (60) days. In such case, LESSEE's fifteen (15) day notice of termination
<br />period shall begin to run upon the expiration of LESSOR's additional period for restoration set forth in
<br />the preceding sentence. Upon the termination of this Lease as aforesaid, LESSEE's liability for the Rent
<br />and other charges reserved hereunder shall cease as of the effective date of the termination of this Lease,
<br />subject, however, to the provisions for abatement of Rent hereinafter set forth.
<br />Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and
<br />LESSEE shall promptly repair, restore, or replace LESSEE's improvements, trade fixtures, decorations,
<br />signs, and personal property in the Leased Premises in a manner and to at least a condition equal to that
<br />existing prior to their damage or destruction, and the proceeds of all insurance carried by LESSEE on
<br />said property shall be held in trust by LESSEE for the purposes of such repair, restoration, or
<br />replacement.
<br />If, by reason of such fire or other casualty, the Leased Premises is rendered wholly untenantable,
<br />then the Rent payable by LESSEE shall be fully abated, or if only partially damaged, such Rent and
<br />LEASE AGREEMENT - CREMA DOWNTOWN CORP. Page 14 of 36
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