elsewhere in this Lease to Tenant or obligating Tenant to alter, modify,
demolish, remove or replace any Improvements, or as limiting provisions relating
to Condemnation or to damage to the Improvements.
9.2
TENANT'S DUTY TO RESTORE INSURED DAMAGE TO IMPROVEMENTS:
SUBJECT
TO SECTION 9.5 BELOW, IF ANY IMPROVEMENTS ARE DAMAGED BY FIRE OR OTHER PERIL
COVERED BY THE INSURANCE REQUIRED TO BE CARRIED BY TENANT PURSUANT TO SECTION
8.1B, THEN TENANT SHALL EITHER (I) RESTORE THE IMPROVEMENTS SO DAMAGED TO THE
CONDITION THAT EXISTED PRIOR TO SUCH DAMAGE, BUT ONLY TO THE EXTENT REASONABLY
PRACTICABLE AND PERMITTED BY LAW, OR (II) DEMOLISH ALL OR ANY OF THE
IMPROVEMENTS AND CONSTRUCT ADDITIONAL OR REPLACEMENT IMPROVEMENTS, BUT ONLY SO
LONG AS THE IMPROVEMENTS FOLLOWING SUCH WORK OF DEMOLITION AND REPLACEMENT ARE
SUFFICIENT TO PERMIT TENANT TO COMPLY WITH SECTION 5.4 ABOVE.
SUCH WORK OF
RESTORATION OR REPLACEMENT SHALL BE COMMENCED AND COMPLETED WITHIN A REASONABLE
PERIOD OF TIME, SUBJECT TO REASONABLE DELAYS ASSOCIATED WITH ADJUSTMENT OR
SETTLEMENT OF INSURANCE CLAIMS, FORCE MAJEURE, LICENSING REQUIREMENTS AND
PROCUREMENT OF NEW SUBTENANTS, IF NECESSARY.
9.3
TENANT'S OPTION FOLLOWING DAMAGE TO THE IMPROVEMENTS NEAR THE END
OF THE LEASE TERM AND/OR FOLLOWING UNINSURED DAMAGE TO THE IMPROVEMENTS:
IF (I)
ANY IMPROVEMENTS ARE DAMAGED BY ANY PERIL THAT IS NOT COVERED BY THE INSURANCE
REQUIRED TO BE CARRIED BY TENANT PURSUANT TO SECTION 8.1B, OR (II) THE ESTIMATED
COST TO REPAIR THE IMPROVEMENTS DAMAGED BY ANY PERIL EXCEED TWENTY-FIVE PERCENT
(25%) OF THE THEN ESTIMATED REPLACEMENT COST OF ALL IMPROVEMENTS THEN EXISTING
ON THE PROPERTY AS DETERMINED BY TENANT IN TENANT'S REASONABLE BUSINESS
JUDGMENT, OR (III) SUCH DAMAGE OCCURS WITHIN TEN (10) YEARS OF THE END OF THE
LEASE TERM, THEN TENANT SHALL HAVE THE OPTION TO DO ANY OF THE FOLLOWING:
A.
TENANT MAY ELECT TO TERMINATE THIS LEASE.
TO EXERCISE ANY SUCH
OPTION TO TERMINATE, TENANT MUST GIVE LANDLORD WRITTEN NOTICE OF ITS ELECTION TO
TERMINATE WITHIN SIXTY (60) DAYS FROM THE DATE OF SUCH DAMAGE.
UPON THE
TERMINATION DATE SET FORTH IN SAID NOTICE:
(I) ALL RENT AND OTHER SUMS DUE
PURSUANT TO THIS LEASE SHALL BE PRORATED AS OF SUCH TERMINATION DATE AND PAID BY
TENANT;
(II) THIS LEASE SHALL EXPIRE AND TERMINATE;
AND (III) NEITHER LANDLORD
NOR TENANT SHALL HAVE ANY FURTHER OBLIGATIONS HEREUNDER, EXCEPT FOR THOSE WHICH
HAVE ACCRUED PRIOR TO THE DATE OF SUCH TERMINATION AND THOSE WHICH EXPRESSLY
SURVIVE ANY TERMINATION UNDER THE TERMS OF THIS LEASE.
IN THE EVENT TENANT
TERMINATES THE LEASE PURSUANT TO THIS SECTION, TENANT SHALL AT ITS SOLE EXPENSE
PRIOR TO THE DATE OF SUCH TERMINATION EITHER (I) DEMOLISH AND REMOVE ALL DAMAGED
IMPROVEMENTS, REPAIRING DAMAGE CAUSED DURING THE DEMOLITION ACTIVITY, IF ANY,
AND LEVEL GRADING THE PREMISES,
OR (II) RESTORE THE DAMAGED IMPROVEMENTS ONLY
TO THE EXTENT NECESSARY TO AVOID ANY VIOLATION OF ANY LAW, AND TENANT SHALL
INDEMNIFY AND HOLD LANDLORD HARMLESS FROM ANY MECHANICS' LIENS OR OTHER
LIABILITIES RESULTING FROM SUCH WORK.
B.
TENANT SHALL HAVE THE RIGHT TO CONTINUE THIS