PREMISES THAT IS USABLE WHILE SUCH REPAIR AND
RESTORATION IS BEING MADE.
AFTER RECEIPT OF ALL INSURANCE PROCEEDS, LANDLORD
SHALL PROCEED WITH SUCH REPAIR AND RESTORATION OF THE PREMISES AND THE BUILDING.
HOWEVER, LANDLORD SHALL NOT BE REQUIRED TO REPAIR OR RESTORE ANY ALTERATIONS OR
ANY OTHER IMPROVEMENTS OR CONTENTS OF THE PREMISES (INCLUDING, WITHOUT
LIMITATION, TENANT'S TRADE FIXTURES AND OTHER PERSONAL PROPERTY).
17.2
NOTWITHSTANDING THE FOREGOING PROVISIONS OF SECTION 17.1, AND IN
ADDITION THERETO, (I) LANDLORD SHALL ALSO HAVE THE RIGHT TO TERMINATE THIS LEASE
IF: (1) INSURANCE PROCEEDS PAYABLE TO LANDLORD WILL, IN LANDLORD'S JUDGMENT, BE
INSUFFICIENT TO PAY THE FULL COST OF SUCH REPAIR AND RESTORATION, (2) ANY
MORTGAGEE FAILS OR REFUSES TO MAKE SUCH INSURANCE PROCEEDS AVAILABLE FOR SUCH
REPAIR AND RESTORATION, (3) ZONING OR OTHER APPLICABLE LEGAL REQUIREMENTS DO NOT
PERMIT SUCH REPAIR AND RESTORATION, (4) ALTERATION OR RECONSTRUCTION OF FIFTY
PERCENT (50%) OR MORE OF THE BUILDING SHALL, IN LANDLORD'S SOLE OPINION, BE
REQUIRED (WHETHER OR NOT THE PREMISES SHALL HAVE BEEN DAMAGED BY SUCH FIRE OR
CASUALTY), (5) THERE IS ANY SUBSTANTIAL LOSS TO THE BUILDING THAT IS NOT COVERED
BY INSURANCE POLICIES REQUIRED TO BE CARRIED BY LANDLORD HEREIN, (6) MORE THAN
FIFTY PERCENT (50%) OF THE PREMISES IS RENDERED UNUSABLE AS A RESULT OF SUCH
FIRE OR CASUALTY OR (7) MORE THAN TWENTY-FIVE PERCENT (25%) OF THE PREMISES IS
RENDERED UNUSABLE AS A RESULT OF ANY FIRE OR CASUALTY OCCURRING DURING THE LAST
TWENTY-FOUR (24) MONTHS OF THE TERM, AND (II) TENANT SHALL ALSO HAVE THE RIGHT
TO TERMINATE THIS LEASE IF MORE THAN FIFTY PERCENT (50%) OF THE PREMISES IS
RENDERED UNUSABLE AS A RESULT OF ANY FIRE OR CASUALTY OCCURRING DURING THE LAST
TWELVE (12) MONTHS OF THE TERM.
17.3
TENANT HEREBY WAIVES ALL CLAIMS (I) FOR ANY DAMAGE OR INJURY
RESULTING FROM ANY DAMAGE OR DESTRUCTION, (II) FOR ANY LOSS OF PROFITS OR
INTERRUPTION OF BUSINESS RESULTING FROM TENANT'S INABILITY TO USE AND OCCUPY THE
PREMISES OR ANY PART THEREOF AS A RESULT OF ANY DAMAGE OR DESTRUCTION, OR (III)
BY REASON OF ANY REQUIRED SURRENDER OF POSSESSION OF THE PREMISES PURSUANT TO
THIS ARTICLE XVII. TENANT ALSO WAIVES THE BENEFIT OF NEW JERSEY REVISED
STATUTES, TITLE 46, CHAPTER 8, SECTIONS 6 AND 7, AND AGREES THAT TENANT WILL NOT
BE RELIEVED OF THE OBLIGATION TO PAY RENT IN CASE OF DAMAGE OR DESTRUCTION TO
THE PREMISES OR THE PROPERTY, EXCEPT AS EXPRESSLY PROVIDED IN SECTION 17.1
ABOVE.
F-42
ARTICLE XVIII
CONDEMNATION
18.1
IF ONE-THIRD (1/3) OR MORE OF THE PREMISES, OR THE USE OR OCCUPANCY
THEREOF, SHALL BE TAKEN OR CONDEMNED BY ANY GOVERNMENTAL OR QUASI-GOVERNMENTAL
AUTHORITY FOR ANY PUBLIC OR QUASI-PUBLIC USE OR PURPOSE, OR SOLD UNDER THE
THREAT OF A TAKING OR CONDEMNATION (COLLECTIVELY, "CONDEMNED"), THEN THIS LEASE
SHALL TERMINATE ON THE DAY PRIOR TO THE DATE TITLE THERETO VESTS IN SUCH
AUTHORITY AND BASE RENT AND ANY RECURRING ITEMS OF ADDITIONAL RENT WHICH ARE
DETERMINED ON A PER SQUARE FOOT BASIS SHALL BE