BE CANCELED OR MODIFIED WITHOUT AT LEAST 30 DAYS' PRIOR WRITTEN
NOTICE SENT BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO LESSOR
AND (EXCEPT FOR RENT INSURANCE) TO THE HOLDER OF ANY MORTGAGE COVERING THE LAND;
AND (B) PROVIDE THAT NO ACT OR OMISSION OF LESSEE OR ANY SUBLESSEE SHALL RESULT
IN A FORFEITURE OF SUCH INSURANCE.
11.8
THE LOSS, IF ANY, UNDER POLICIES OF INSURANCE
REQUIRED UNDER SECTION 11.1 SHALL BE ADJUSTED BY AND PAID TO LESSOR (SUBJECT TO
THE PROVISIONS OF SECTIONS 12.3 AND 12.4) IF NOT REQUIRED TO BE PAID TO THE
HOLDER OF ANY MORTGAGE COVERING THE LAND.
ALL DEDUCTIBLES PAYABLE UNDER THE
INSURANCE LISTED HEREIN SHALL BE PAID BY LESSEE.
8
11.9
UPON TERMINATION OF THIS LEASE, THE PREMIUMS ON
ALL TRANSFERABLE INSURANCE POLICIES PROVIDED FOR IN THIS ARTICLE, THEN IN FORCE,
SHALL BE APPORTIONED BETWEEN LESSOR AND LESSEE AS OF THE DATE OF TERMINATION,
BUT ONLY TO THE EXTENT SUCH INSURANCE POLICIES ARE ACTUALLY TRANSFERRED TO
LESSOR AND PROVIDED THAT LESSOR SHALL NOT BE REQUIRED TO MAKE ANY APPORTIONMENT
PAYMENT TO LESSEE IF LESSEE IS THEN IN DEFAULT UNDER THIS LEASE.
11.10
IF ANY LIABILITY CLAIM SHALL BE ASSERTED AGAINST
LESSEE OR THE LEASED PROPERTY, LESSEE, PROMPTLY AFTER HAVING KNOWLEDGE THEREOF,
WILL NOTIFY LESSOR OF SUCH CLAIM.
TWELFTH.- LOSS AND DESTRUCTION.
12.1
IN CASE OF DAMAGE TO OR TOTAL OR PARTIAL
DESTRUCTION (COLLECTIVELY A "CASUALTY") OF THE BUILDING OR ANY OTHER
BUILDING,
IMPROVEMENTS OR BUILDING EQUIPMENT NOW OR HEREAFTER ON THE LAND, AND SUCH
CASUALTY RENDERS ALL OR A SUBSTANTIAL PORTION OF THE LEASED PROPERTY
UNTENANTABLE, AND IN LESSOR'S REASONABLE OPINION IT WOULD NOT BE ECONOMICALLY
FEASIBLE TO REPAIR OR RESTORE THE LEASED PROPERTY, THEN LESSOR MAY TERMINATE
THIS LEASE UPON WRITTEN NOTICE TO THE LESSEE WITHIN 90 DAYS AFTER THE CASUALTY.
IN ADDITION, LESSOR, BY NOTICE TO LESSEE WITHIN 90 DAYS AFTER THE DATE OF THE
CASUALTY, SHALL HAVE THE RIGHT TO TERMINATE THIS LEASE IF:
(1)
THE LEASED
PROPERTY HAVE BEEN MATERIALLY DAMAGED AND THERE IS LESS THAN 2 YEARS OF THE TERM
REMAINING ON THE DATE OF THE CASUALTY; (2) ANY MORTGAGE TO WHICH THIS LEASE IS
SUBJECT
REQUIRES THAT THE INSURANCE PROCEEDS BE APPLIED TO THE PAYMENT OF THE
MORTGAGE DEBT.
12.2
IF THIS LESSEE IS NOT TERMINATED, LESSOR SHALL
PROCEED WITH REASONABLE PROMPTNESS TO REPAIR AND RESTORE THE LEASED PROPERTY,
SUBJECT TO REASONABLE DELAYS FOR INSURANCE ADJUSTMENTS AND DELAYS CAUSED BY
MATTERS BEYOND LESSOR'S REASONABLE CONTROL, AND ALSO SUBJECT TO ZONING LAWS AND
BUILDING CODES THEN IN EFFECT. LESSOR SHALL HAVE NO LIABILITY TO LESSEE, AND
LESSEE SHALL NOT BE ENTITLED TO TERMINATE THIS LEASE (EXCEPT AS HEREINAFTER
PROVIDED) IF SUCH REPAIRS AND RESTORATION ARE NOT IN FACT COMPLETED WITHIN THE
TIME PERIOD ESTIMATED BY LESSOR.
HOWEVER, IF THE LEASED PROPERTY ARE NOT
REPAIRED OR RESTORED WITHIN EIGHTEEN (18) MONTHS AFTER THE DATE OF THE CASUALTY
("OUTSIDE COMPLETION DATE"), THEN EITHER PARTY MAY TERMINATE THIS LEASE BY
WRITTEN NOTICE TO THE OTHER PARTY NOT LATER THAN THIRTY