OTHER CASUALTY TO THE PREMISES (COLLECTIVELY A
"CASUALTY"), LANDLORD, WITH REASONABLE PROMPTNESS, SHALL CAUSE A GENERAL
CONTRACTOR SELECTED BY LANDLORD TO PROVIDE LANDLORD AND TENANT WITH A WRITTEN
ESTIMATE OF THE AMOUNT OF TIME REQUIRED USING STANDARD WORKING METHODS TO
SUBSTANTIALLY COMPLETE THE REPAIR AND RESTORATION OF THE PREMISES AND ANY COMMON
AREAS NECESSARY TO PROVIDE ACCESS TO THE PREMISES ("COMPLETION ESTIMATE").
IF
THE COMPLETION ESTIMATE INDICATES THAT THE PREMISES OR ANY COMMON AREAS
NECESSARY TO PROVIDE ACCESS TO THE PREMISES CANNOT BE MADE TENANTABLE WITHIN 270
DAYS FROM THE DATE THE REPAIR IS STARTED, THEN EITHER PARTY SHALL HAVE THE RIGHT
TO TERMINATE THIS LEASE UPON WRITTEN NOTICE TO THE OTHER WITHIN TEN (10) DAYS
AFTER RECEIPT OF THE COMPLETION ESTIMATE.
TENANT, HOWEVER, SHALL NOT HAVE THE
RIGHT TO TERMINATE THIS LEASE IF THE CASUALTY WAS CAUSED BY THE NEGLIGENCE OR
INTENTIONAL MISCONDUCT OF TENANT OR ANY TENANT RELATED PARTIES. IN ADDITION,
LANDLORD, BY NOTICE TO TENANT WITHIN NINETY (90) DAYS AFTER THE DATE OF THE
CASUALTY, SHALL HAVE THE RIGHT TO TERMINATE THIS LEASE IF:
(1) THE PREMISES
HAVE BEEN MATERIALLY DAMAGED AND THERE IS LESS THAN TWO (2) YEARS OF THE TERM
REMAINING ON THE DATE OF THE CASUALTY; (2) ANY MORTGAGEE REQUIRES THAT THE
INSURANCE PROCEEDS BE APPLIED TO THE PAYMENT OF THE MORTGAGE DEBT; OR (3) A
MATERIAL UNINSURED LOSS TO THE BUILDING OCCURS.
16.2
IF THIS LEASE IS NOT TERMINATED, LANDLORD SHALL
PROMPTLY AND DILIGENTLY, SUBJECT TO REASONABLE DELAYS FOR INSURANCE ADJUSTMENT
OR OTHER MATTERS BEYOND LANDLORD'S REASONABLE CONTROL, RESTORE THE PREMISES AND
COMMON AREAS. SUCH RESTORATION SHALL BE TO SUBSTANTIALLY THE SAME CONDITION THAT
EXISTED PRIOR TO THE CASUALTY TO THE EXTENT OF INSURANCE PROCEEDS RECEIVED BY
LANDLORD, EXCEPT FOR MODIFICATIONS REQUIRED BY LAW OR ANY OTHER MODIFICATIONS TO
THE COMMON AREAS DEEMED DESIRABLE BY LANDLORD. UPON NOTICE FROM LANDLORD, TENANT
SHALL ASSIGN TO LANDLORD (OR TO ANY PARTY DESIGNATED BY LANDLORD) ALL PROPERTY
INSURANCE PROCEEDS PAYABLE TO TENANT UNDER TENANT'S INSURANCE WITH RESPECT TO
ANY LEASEHOLD IMPROVEMENTS PERFORMED BY OR FOR THE BENEFIT OF TENANT; PROVIDED
IF THE ESTIMATED COST TO REPAIR SUCH LEASEHOLD IMPROVEMENTS EXCEEDS THE AMOUNT
OF INSURANCE PROCEEDS RECEIVED BY LANDLORD FROM TENANT'S INSURANCE CARRIER, THE
EXCESS COST OF SUCH REPAIRS SHALL BE PAID BY TENANT TO LANDLORD PRIOR TO
LANDLORD'S COMMENCEMENT OF REPAIRS.
WITHIN FIFTEEN (15) DAYS OF DEMAND, TENANT
SHALL ALSO PAY LANDLORD FOR ANY ADDITIONAL EXCESS COSTS THAT ARE DETERMINED
DURING THE PERFORMANCE OF THE REPAIRS. LANDLORD SHALL NOT BE LIABLE FOR ANY
INCONVENIENCE TO TENANT, OR INJURY TO TENANT'S BUSINESS RESULTING IN ANY WAY
FROM THE CASUALTY OR THE REPAIR THEREOF.
PROVIDED THAT TENANT IS NOT IN
DEFAULT, DURING ANY PERIOD OF TIME THAT ALL OR A MATERIAL PORTION OF THE
PREMISES IS RENDERED UNTENANTABLE AS A RESULT OF A CASUALTY, THE RENT SHALL
ABATE FOR THE PORTION OF THE PREMISES THAT IS UNTENANTABLE AND NOT USED BY
TENANT.
IF FOR ANY REASON THE WORK TO REPAIR OR REBUILD THE PREMISES FOLLOWING
A CASUALTY IS