IN CONNECTION THEREWITH.
11.2
LANDLORD'S OPTION TO REPAIR.
NOTWITHSTANDING THE
TERMS OF SECTION 11.1 OF THIS LEASE, LANDLORD MAY ELECT NOT TO REBUILD AND/OR
RESTORE THE BUILDING STRUCTURE AND/OR EXTERIOR PROJECT COMPONENTS, AND INSTEAD
TERMINATE THIS LEASE, BY NOTIFYING TENANT IN WRITING OF SUCH TERMINATION WITHIN
SIXTY (60) DAYS AFTER THE DATE OF DISCOVERY OF THE DAMAGE, SUCH NOTICE TO
INCLUDE A TERMINATION DATE GIVING TENANT SIXTY (60) DAYS TO VACATE THE PREMISES,
BUT LANDLORD MAY SO ELECT ONLY IF THE BUILDING STRUCTURE OR EXTERIOR PROJECT
COMPONENTS SHALL BE DAMAGED BY FIRE OR OTHER CASUALTY OR CAUSE, WHETHER OR NOT
THE PREMISES ARE AFFECTED, AND ONE OR MORE OF THE FOLLOWING CONDITIONS IS
PRESENT: (I) IN LANDLORD'S REASONABLE JUDGMENT, REPAIRS CANNOT REASONABLY BE
COMPLETED WITHIN ONE HUNDRED EIGHTY (180) DAYS AFTER THE DATE OF DISCOVERY OF
THE DAMAGE (WHEN SUCH REPAIRS ARE MADE WITHOUT THE PAYMENT OF OVERTIME OR OTHER
PREMIUMS); (II) THE HOLDER OF ANY MORTGAGE ON THE BUILDING OR PROJECT OR GROUND
LESSOR WITH RESPECT TO THE BUILDING OR PROJECT SHALL REQUIRE THAT THE INSURANCE
PROCEEDS OR ANY PORTION THEREOF BE USED TO RETIRE THE MORTGAGE DEBT, OR SHALL
TERMINATE THE GROUND LEASE, AS THE CASE MAY BE; (III) THE DAMAGE IS NOT FULLY
COVERED BY THE INSURANCE POLICIES LANDLORD IS REQUIRED TO CARRY PURSUANT TO THE
TCCS OF THIS LEASE; (IV) LANDLORD CANNOT, PURSUANT TO THE APPLICABLE LAWS THEN
IN EFFECT, REBUILD THE BUILDING STRUCTURE OR EXTERIOR PROJECT COMPONENTS SO THAT
THEY WILL BE SUBSTANTIALLY THE SAME STRUCTURALLY OR ARCHITECTURALLY; OR (V) THE
DAMAGE OCCURS DURING THE LAST TWELVE (12) MONTHS OF THE LEASE TERM; PROVIDED,
HOWEVER, THAT IF LANDLORD DOES NOT ELECT TO TERMINATE THIS LEASE PURSUANT TO
LANDLORD'S TERMINATION RIGHT AS PROVIDED ABOVE, AND THE REPAIRS CANNOT, IN THE
REASONABLE OPINION OF LANDLORD, BE COMPLETED WITHIN ONE HUNDRED EIGHTY (180)
DAYS AFTER BEING COMMENCED, TENANT
34
MAY ELECT, NO EARLIER THAN SIXTY (60) DAYS AFTER THE DATE OF THE DAMAGE AND NOT
LATER THAN NINETY (90) DAYS AFTER THE DATE OF SUCH DAMAGE, TO TERMINATE THIS
LEASE BY WRITTEN NOTICE TO LANDLORD EFFECTIVE AS OF THE DATE SPECIFIED IN THE
NOTICE, WHICH DATE SHALL NOT BE LESS THAN THIRTY (30) DAYS NOR MORE THAN SIXTY
(60) DAYS AFTER THE DATE SUCH NOTICE IS GIVEN BY TENANT.
FURTHERMORE, IF
NEITHER LANDLORD NOR TENANT HAS TERMINATED THIS LEASE, AND THE REPAIRS ARE NOT
ACTUALLY COMPLETED WITHIN SUCH 180-DAY PERIOD, TENANT SHALL HAVE THE RIGHT TO
TERMINATE THIS LEASE DURING THE FIRST FIVE (5) BUSINESS DAYS OF EACH CALENDAR
MONTH FOLLOWING THE END OF SUCH PERIOD UNTIL SUCH TIME AS THE REPAIRS ARE
COMPLETE, BY NOTICE TO LANDLORD (THE "DAMAGE TERMINATION NOTICE"), EFFECTIVE AS
OF A DATE SET FORTH IN THE DAMAGE TERMINATION NOTICE (THE "DAMAGE TERMINATION
DATE"), WHICH DAMAGE TERMINATION DATE SHALL NOT BE LESS THAN TEN (10) BUSINESS
DAYS FOLLOWING THE END OF EACH SUCH MONTH.
NOTWITHSTANDING THE FOREGOING, IF
TENANT DELIVERS A DAMAGE TERMINATION NOTICE TO LANDLORD, THEN LANDLORD SHALL
HAVE THE RIGHT TO