release of any portion of the Award by the
applicable Property Mortgagee to Landlord.
45
11.3
ABATEMENT OF RENT.
OTHER THAN AS SPECIFICALLY PROVIDED IN THIS AGREEMENT,
THIS AGREEMENT SHALL REMAIN IN FULL FORCE AND EFFECT AND TENANT'S OBLIGATION TO
MAKE ALL PAYMENTS OF RENT AND TO PAY ALL OTHER CHARGES AS AND WHEN REQUIRED
UNDER THIS AGREEMENT SHALL REMAIN UNABATED DURING THE TERM NOTWITHSTANDING ANY
CONDEMNATION INVOLVING THE LEASED PROPERTY, OR ANY PORTION THEREOF.
THE
PROVISIONS OF THIS ARTICLE 11 SHALL BE CONSIDERED AN EXPRESS AGREEMENT GOVERNING
ANY CONDEMNATION INVOLVING THE LEASED PROPERTY AND, TO THE MAXIMUM EXTENT
PERMITTED BY LAW, NO LOCAL OR STATE STATUTE, LAW, RULE, REGULATION OR ORDINANCE
IN EFFECT DURING THE TERM WHICH PROVIDES FOR SUCH A CONTINGENCY SHALL HAVE ANY
APPLICATION IN SUCH CASE.
11.4
TEMPORARY CONDEMNATION.
IN THE EVENT OF ANY TEMPORARY CONDEMNATION OF ANY
PROPERTY OR TENANT'S INTEREST THEREIN, THIS AGREEMENT SHALL CONTINUE IN FULL
FORCE AND EFFECT AND TENANT SHALL CONTINUE TO PAY (OR CAUSE TO BE PAID), IN THE
MANNER AND ON THE TERMS HEREIN SPECIFIED, THE FULL AMOUNT OF THE RENT.
TENANT
SHALL CONTINUE TO PERFORM AND OBSERVE (OR CAUSE TO BE PERFORMED AND OBSERVED)
ALL OF THE OTHER TERMS AND CONDITIONS OF THIS AGREEMENT ON THE PART OF THE
TENANT TO BE PERFORMED AND OBSERVED.
THE ENTIRE AMOUNT OF ANY AWARD MADE FOR
SUCH TEMPORARY CONDEMNATION ALLOCABLE TO THE TERM, WHETHER PAID BY WAY OF
DAMAGES, RENT OR OTHERWISE, SHALL BE PAID TO TENANT.
TENANT SHALL, PROMPTLY
UPON THE TERMINATION OF ANY SUCH PERIOD OF TEMPORARY CONDEMNATION, AT ITS SOLE
COST AND EXPENSE, RESTORE THE AFFECTED PROPERTY TO THE CONDITION THAT EXISTED
IMMEDIATELY PRIOR TO SUCH CONDEMNATION, IN MATERIAL COMPLIANCE WITH ALL
APPLICABLE LEGAL REQUIREMENTS, UNLESS SUCH PERIOD OF TEMPORARY CONDEMNATION
SHALL EXTEND BEYOND THE EXPIRATION OF THE TERM, IN WHICH EVENT TENANT SHALL NOT
BE REQUIRED TO MAKE SUCH RESTORATION.
11.5
ALLOCATION OF AWARD.
EXCEPT AS PROVIDED IN SECTION 11.4 AND THE SECOND
SENTENCE OF THIS SECTION 11.5, THE TOTAL AWARD SHALL BE SOLELY THE PROPERTY OF
AND PAYABLE TO LANDLORD.
ANY PORTION OF THE AWARD MADE FOR THE TAKING OF
TENANT'S LEASEHOLD INTEREST IN THE LEASED PROPERTY, LOSS OF BUSINESS DURING THE
REMAINDER OF THE TERM, THE TAKING OF TENANT'S PERSONAL PROPERTY, THE TAKING OF
CAPITAL ADDITIONS PAID FOR BY TENANT AND TENANT'S REMOVAL AND RELOCATION
EXPENSES SHALL BE THE SOLE PROPERTY OF AND PAYABLE TO TENANT.
IN ANY
CONDEMNATION PROCEEDINGS, LANDLORD AND TENANT SHALL EACH SEEK ITS OWN AWARD IN
CONFORMITY HEREWITH, AT ITS OWN EXPENSE.
46
ARTICLE 12
DEFAULTS AND REMEDIES
12.1
EVENTS OF DEFAULT.
THE OCCURRENCE OF ANY ONE OR MORE OF THE FOLLOWING
EVENTS SHALL CONSTITUTE AN "EVENT OF DEFAULT" HEREUNDER:
(A)
SHOULD TENANT FAIL TO MAKE ANY PAYMENT OF THE RENT OR ANY OTHER
SUM PAYABLE HEREUNDER WHEN DUE WHICH FAILURE SHALL CONTINUE FOR A PERIOD OF FIVE
(5) BUSINESS DAYS AFTER NOTICE THEREOF FROM LANDLORD TO TENANT; OR
(B)
SHOULD TENANT DEFAULT IN THE DUE OBSERVANCE OR PERFORMANCE