FIRE OR OTHER CASUALTY, THE RENT SHALL BE
PROPORTIONALLY ABATED TO THE EXTENT OF ANY ACTUAL LOSS OF USE OF THE PREMISES BY
TENANT.
18.3.
TOTAL DESTRUCTION.
IF (A) THE PROPERTY OR THE
PREMISES SHALL BE TOTALLY DESTROYED BY FIRE OR OTHER CASUALTY, OR (B) THE
PREMISES ARE SO DAMAGED BY FIRE OR OTHER CASUALTY
THAT (IN THE REASONABLE
OPINION OF A REPUTABLE CONTRACTOR OR ARCHITECT DESIGNATED BY LANDLORD AND
APPROVED BY TENANT) THEIR REPAIR OR RESTORATION REQUIRES (I) THE EXPENDITURE OF
MORE THAN 50% OF THE FULL INSURABLE VALUE OF THE PREMISES IMMEDIATELY PRIOR TO
SUCH CASUALTY; (II)
WILL REQUIRE MORE THAN ONE HUNDRED TWENTY (120) DAYS, OR
(III) THE DAMAGE (X) IS LESS THAN THE AMOUNT STATED IN (I) ABOVE, BUT MORE THAN
10% OF THE FULL INSURABLE VALUE OF THE PROPERTY; AND (Y) OCCURS DURING THE LAST
TWO YEARS OF THE TERM, LANDLORD AND TENANT SHALL EACH HAVE THE OPTION TO
TERMINATE THIS LEASE (BY SO ADVISING THE OTHER, IN WRITING) WITHIN 10 DAYS AFTER
SAID CONTRACTOR OR ARCHITECT DELIVERS WRITTEN NOTICE OF ITS OPINION TO LANDLORD
AND TENANT, BUT IN ALL EVENTS PRIOR TO THE COMMENCEMENT
23
OF ANY RESTORATION OF THE PREMISES OR THE PROPERTY BY LANDLORD.
IN SUCH EVENT,
THE TERMINATION SHALL BE EFFECTIVE AS OF THE DATE UPON WHICH EITHER LANDLORD OR
TENANT, AS THE CASE MAY BE, RECEIVES TIMELY WRITTEN NOTICE FROM THE OTHER
TERMINATING THIS LEASE PURSUANT TO THE PRECEDING SENTENCE.
IF NEITHER LANDLORD
NOR TENANT TIMELY DELIVERS A TERMINATION NOTICE, THIS LEASE SHALL REMAIN IN FULL
FORCE AND EFFECT.
IF (A) ANY HOLDER OF A MORTGAGE OR DEED OF TRUST ENCUMBERING
THE PROPERTY OR LANDLORD ENCUMBERING THE PROPERTY (COLLECTIVELY, "SUPERIOR
PARTIES") OR OTHER PARTY ENTITLED TO THE INSURANCE PROCEEDS FAILS TO MAKE SUCH
PROCEEDS AVAILABLE TO LANDLORD IN AN AMOUNT SUFFICIENT FOR RESTORATION OF THE
PREMISES OR THE PROPERTY, OR (B) THE ISSUER OF ANY SPECIAL PERILS PROPERTY
INSURANCE POLICIES ON THE PROPERTY FAILS TO MAKE AVAILABLE TO LANDLORD
SUFFICIENT PROCEEDS FOR RESTORATION OF THE PREMISES OR THE PROPERTY, THEN
LANDLORD MAY, AT LANDLORD'S SOLE OPTION, TERMINATE THIS LEASE BY GIVING TENANT
WRITTEN NOTICE TO SUCH EFFECT WITHIN 5 DAYS AFTER LANDLORD RECEIVES NOTICE FROM
THE SUPERIOR PARTY OR INSURANCE COMPANY, AS THE CASE MAY BE, THAT SUCH PROCEEDS
SHALL NOT BE MADE AVAILABLE, IN WHICH EVENT THE TERMINATION OF THIS LEASE SHALL
BE EFFECTIVE AS OF THE DATE TENANT RECEIVES WRITTEN NOTICE FROM LANDLORD OF
LANDLORD'S ELECTION TO TERMINATE THIS LEASE; PROVIDED, HOWEVER THAT IF ANY
PORTION OF THE PREMISES IS TENANTABLE, THEN TENANT SHALL BE PERMITTED TO REMAIN
THEREON UNTIL SUCH TIME AS TENANT CAN ARRANGE FOR ALTERNATE RENTAL PROPERTY,
SUCH TIME NOT TO EXCEED SIXTY (60) DAYS.
FOR PURPOSES OF THIS SECTION 18.3
ONLY, "FULL INSURABLE VALUE" SHALL MEAN REPLACEMENT COST, LESS THE COST OF
FOOTINGS, FOUNDATIONS AND OTHER STRUCTURES BELOW GRADE.
19.
EMINENT DOMAIN.
IF THE WHOLE, OR ANY
SUBSTANTIAL PORTION (EQUAL TO OR MORE THAN 35%) OF THE PROPERTY IS TAKEN OR
CONDEMNED FOR