Common use of Fire or Other Casualty Clause in Contracts

Fire or Other Casualty. In the event that the Building should be totally destroyed by fire, tornado or other casualty or in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date of such damage, Landlord may at its option terminate this lease, in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event Landlord shall within sixty (60) days after the date of such damage commence to rebuild or repair the Building and/or the premises and shall proceed with reasonable diligence to restore the Building and/or premises to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole control.

Fire or Other Casualty. In the event that the Building should be totally destroyed by fire, tornado or other casualty or in the event the premises Premises or the Building should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) 120 days after the date of such damage, Landlord may at its option terminate this lease, in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event the Building or the premises Premises should be damaged by fire, tornado tornado, or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) 120 days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event even Landlord shall within sixty thirty (6030) days after the date of such damage commence to rebuild or repair the Building and/or the premises Premises and shall proceed with reasonable diligence to restore the Building and/or premises Premises to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair repair, or replace any part of the furniture, equipment, fixtures fixtures, and other improvements which may have been placed by Tenant or other tenants Tenants within the Building or the premisesPremises. Landlord shall allow Tenant a fair diminution of rent during the time the premises Premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any the insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may carried by Landlord or Tenant against loss or damage hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises Premises shall be for the sole benefit of the party carrying such insurance and under its sole control.

Fire or Other Casualty. In Should the event that the Building should Leased Premises be totally damaged or destroyed by fire, tornado any cause and such damage or other casualty destruction be of such a nature that it may be repaired or in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed restored within a period of one hundred eighty twenty (180120) days after the date of such damageoccurrence, Landlord may at its option terminate then this leaseLease shall not terminate, in which event the rent but it shall be abated the obligation of Landlord to repair or restore the Leased Premises as nearly as possible to its condition prior to such damage or destruction, and the Landlord shall proceed promptly to make such repairs or restoration; provided, however, that such repairs or restoration can be made by Landlord for an amount not in excess of the amount recovered by Landlord on the fire and extended insurance. There shall be an equitable abatement of rent during the unexpired portion period that the Leased Premises may be wholly or partially unavailable for use by Tenant for the operation of this lease effective with its business. If Landlord determines that the date damage or destruction is of such damage. In a character that will not permit repair or restoration of the event Leased Premises within the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty twenty (180120) days after the date of such damageoccurrence thereof, or if the damage should be more serious but cost of such repair or restoration exceeds Landlord's insurance recovery and Landlord does elects not elect to terminate pay the difference between the insurance recovery and the actual cost of the restoration, then Landlord shall promptly deliver written notice of this leasefact to Tenant, in which case either such event Landlord or Tenant shall have the privilege of canceling the unexpired term of this Lease upon giving written notice to the other within sixty ten (6010) business days after the date of such damage commence to rebuild or repair the Building and/or the premises and shall proceed with reasonable diligence to restore the Building and/or premises to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice is delivered to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord If the damage or Tenant against loss or damage to destruction occurs during the Building or to the premises shall be for the sole benefit last six months of the party carrying such insurance and under its sole controlLease term, or if Landlord fails to complete the restoration following any damage or destruction within the one hundred twenty (120) day period after the occurrence of the damage or destruction, Tenant shall have the right to terminate the Lease by written notice delivered on or before the 130th day after the casualty.

Fire or Other Casualty. In the event that the Building should be totally destroyed by fire, tornado of a fire or other casualty or in the event Leased Premises, Tenant shall immediately give written notice thereof to Landlord. If greater than sixty percent (60%) of the premises Leased Premises or greater than thirty percent (30%) of any portion of the Building is damaged or destroyed by fire or other casualty and Landlord’s architect determines that the repair of such casualty will take more than 180 days to restore or repair, Landlord shall notify Tenant within one hundred eighty (180) days from the date of such damage or destruction, Landlord shall have the right, but not the duty, to terminate this Lease or to repair the Leased Premises with reasonable dispatch, subject to delays resulting from adjustment of the loss and any other cause beyond Landlord’s reasonable control. Landlord shall provide Tenant with ninety (90) days notice from the date of such damage or destruction as to whether Landlord shall terminate this Lease or repair the Leased Premises or the Building. If sixty percent (60%) or less of the Leased Premises or thirty percent (30%) or less of the Building should be so is damaged or destroyed or Landlord elects to restore or repair the damage or destruction, Landlord shall commence and thereafter pursue diligently and as expeditiously as practicable, the restoration and repair of the damage or destruction to the Building and/or the Leased Premises, as the case may be, using standard working methods and procedures, provided, however, that rebuilding or repairs canfor purposes of this Section 8.03, Landlord shall not be completed obligated to commence any repair or restoration unless and until insurance proceeds are actually received by Landlord. Landlord, subject to Force Majeure and Tenant delays, shall substantially complete the restoration and repair within one hundred eighty (180) days after Landlord receives the date of such damageinsurance proceeds; provided, however, if Landlord may at its option terminate this lease, in which event is proceeding diligently and has not completed the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed restoration within one hundred eighty (180) days after the date of such damagedays, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event then Landlord shall within have an additional sixty (60) days after or as soon thereafter as is reasonably possible to complete such restoration. Landlord covenants and agrees to use its commercially reasonable efforts to obtain the date insurance proceeds from the insurer in the most expeditious manner practicable under the circumstances. Anything in this Lease to the contrary notwithstanding, Landlord shall not be required, but rather it shall be Tenant’s duty, to repair or replace any of such damage commence the following: (i) furniture, furnishings or other personal property which Tenant may be entitled to rebuild remove from the Leased Premises and (ii) any installations in excess of those improvements made to the Leased Premises by Landlord or repair at Landlord’s expense. Until Landlord’s repairs are completed, Rent shall be abated in proportion to the Building and/or portions of the premises and Leased Premises, if any, which are untenantable. Notwithstanding anything contained in this Section, Landlord shall proceed with reasonable diligence only be obligated to restore or rebuild the Building and/or premises Leased Premises to substantially the same condition in which it was immediately prior improvements made to the happening of the casualtyLeased Premises by Landlord or at Landlord’s expense, except that and Landlord shall not be required to rebuild, repair or replace any part expend more funds than the amount received by Landlord from the proceeds of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole controlLandlord.

Fire or Other Casualty. In the event that the Building should be totally destroyed by fire, tornado or other casualty or in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date of such damage, Landlord may at its option terminate this lease, in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event the Building Premises is damaged or the premises should be damaged destroyed in whole or in part by fire, tornado fire or other casualty covered by during the term hereof, Landlord shall, at its own expense, repair and restore the same to tenantable condition with reasonable dispatch, and the Rent, including taxes and operating expenses shall abatx xxxirely in case the entire Premises is untenantable and pro rate for the portion rendered untenantable, in the event of partial untenantability, until such time as the Premises is restored to a condition in which Tenant can operate its business in a fashion substantially similar to that in which it was operated before the damage or destruction. Within a period of forty five (45) days after such damage or destruction, Landlord shall deliver in writing to Tenant Landlord's insurance, but only guarantee that the Premises will be restored to such extent that rebuilding or repairs can be completed tenantable condition within one hundred eighty and thirty five (180135) days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event Landlord shall within sixty (60) days after from the date of such damage commence or destruction. If Landlord cannot guarantee that the Premises will be restored to rebuild or repair tenantable condition within this period of one hundred and thirty five (135) days, Landlord and Tenant shall each have the Building and/or the premises and shall proceed with reasonable diligence right to restore the Building and/or premises to substantially the same condition in which it was immediately prior terminate this Lease upon written notice to the happening other and any Rent paid for any period in advance of the casualty, except that Landlord date of such damage and destruction shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice refunded to Tenant. Except as hereinafter providedIf the Premises is damaged due to fire or other casualty caused by Landlord, its agents, employees, invitees, licensees, or other parties acting through and under Landlord, then 6 Landlord shall, at its own cost and expense, remove such of Tenant's furniture and other belongings from the Premises. Each party hereby releases the other from any liability resulting from damage by fire or any other peril covered by extended coverage insurance which may be carried by Landlord or Tenant against loss or damage to with waiver of subrogation normally available in the Building or to the premises shall be for the sole benefit State of Arizona, irrespective of the cause therefor. Provided, however, that if an increase in premium is required for such waiver of subrogation, the other party carrying will pay such insurance and under its sole controlincrease or the waiver will not be furnished.

Fire or Other Casualty. In the event that the Building should Leased Premises shall be totally destroyed rendered wholly untenantable by fire, tornado fire or other casualty or in casualty, the event Landlord shall be entitled to the premises or the Building should be so damaged that rebuilding or repairs cannot be completed proceeds of all applicable insurance maintained by Landlord, and may, at its option, (a) terminate this Lease Agreement by giving Tenant written notice thereof within one hundred eighty thirty (18030) days after from the date of said damage or destruction, or (b) repair or replace the Leased Premises to substantially the same condition as prior to the damage or destruction. If the Landlord fails to commence to repair the damage or destruction within thirty (30) days from the date of such damage, Landlord may at its option terminate this lease, in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event the Building damage or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty (180) days after the date of such damagedestruction, or if the damage should be more serious but Landlord does Leased Premises shall not elect to terminate this lease, in either such event Landlord shall have been substantially replaced or repaired within sixty one hundred twenty (60120) days after the date of such damage or destruction, Tenant may at its option, terminate this Lease Agreement by giving written notice to Landlord within fifteen (15) days after Landlord’s failure to commence or substantially complete said repairs within the applicable time period. The rent herein required to rebuild be paid shall xxxxx during the period of such untenantability. If the Leased Premises shall be damaged in part by fire or other casualty, but still remain partially tenantable, Landlord shall repair the Building and/or the premises and shall proceed with reasonable diligence to restore the Building and/or premises Leased Premises to substantially the same condition in which it was immediately as prior to the happening damage. Landlord shall commence repair of the casualtydamage or destruction within sixty (60) days from the date of occurrence. During the period of such repairs and restorations, except that Landlord this Lease Agreement shall not continue in full force and effect, and Tenant shall be required to rebuildpay the rent herein reserved, repair or replace any part abated by the percentage of area of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant Leased Premises destroyed or other tenants within unusable as compared to the Building or total area of the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancyLeased Premises. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used damage or destruction occurs during the last twelve (12) months of the Initial Term or the Renewal Term, if any, to retire the mortgage debtextent of fifty percent (50%) or more of the insurable value of the Leased Premises, Landlord may elect to terminate this Lease Agreement by giving notice of such election to Tenant within thirty (30) days after such damage or destruction. In such event, Landlord shall have no receive the proceeds of the Landlord’s insurance policies without obligation to rebuild or restore the Leased Premises, and this lease Tenant shall terminate upon notice to Tenant. Except as hereinafter provided, execute any insurance waiver which may be carried required of it by Landlord any insurer or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole controlLandlord.

Fire or Other Casualty. In Should the event that the Building should Leased Premises be totally damaged or destroyed by fire, tornado any cause and such damage or other casualty destruction be of such a nature that it may be repaired or in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed restored within a period of one hundred eighty twenty (180120) days after the date of such damageoccurrence, Landlord may at its option terminate then this leaseLease shall not terminate, in which event the rent but it shall be abated the obligation of Landlord to repair or restore the leased Premises as nearly as possible to its condition prior to such damage or destruction, and the Landlord shall proceed promptly to make such repairs or restoration; provided, however, that such repairs or restoration; provided, however, that such repairs or restoration can be made by Landlord for an amount not in excess of the amount recovered by Landlord on the fire, extended coverage and all risk insurance. There shall be a full abatement of rent during the unexpired portion period that the Leased Premises may be wholly unavailable for sue xx Tenant for the operation of this lease effective with its business. There shall be a partial abatement of rent during the date period that the Leased Premises is partially unavailable. Should the damage or destruction be of such damage. In a character that will not permit repair or restoration of the event Leased Premises within the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed within one hundred eighty twenty (180120) days after the date of such damageoccurrence thereof, or if the damage should be more serious but cost of such repair or restoration exceeds Landlord's insurance recovery, either Landlord does not elect or Tenant shall have the privilege of canceling the unexpired term of this Lease upon giving written notice to terminate this lease, in either such event Landlord shall the other within sixty forty five (6045) days after the date of such damage commence destruction. Landlord will use reasonable efforts to rebuild or repair the Building and/or the premises and shall proceed with reasonable diligence relocate Tenant to restore the Building and/or premises to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants another space within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole controloffice building.

Fire or Other Casualty. In 22.1 If the event that Premises (or any part thereof) are damaged or destroyed by any insured casualty, Landlord shall, except as otherwise provided herein, and to the Building extent it recovers proceeds from such insurance, repair and/or rebuild the same with reasonable diligence. Landlord's obligation hereunder shall be limited to the building and improvements originally provided by Landlord at the Commencement Date of the Term. Landlord shall not be obligated to repair, rebuild or replace any property belonging to Tenant or any improvements to the Premises furnished by Tenant. If there should be totally destroyed by fire, tornado or other casualty or a substantial interference with the operation of Tenant's business in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date Premises as a result of such damagedamage or destruction which requires Tenant to temporarily close its business to the public, the Minimum Rent shall xxxxx. Unless this Lease is terminated by Landlord may or Tenant as herein provided, Tenant shall, at its option terminate this leasecost and expense, repair, restore, redecorate and refixture the Premises and restock the contents thereof in which event a manner and to at least a condition equal to that existing prior to such damage or destruction, except for the rent building and improvements to be reconstructed by Landlord as above set forth, and the proceeds of all insurance carried by Tenant on the property, decorations and improvements as well as fixtures and contents in the Premises shall be abated during the unexpired portion of this lease effective with the date of held in trust by Tenant for such damagepurposes. In the event the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only Tenant agrees to commence such extent that rebuilding or repairs can be completed work within one hundred eighty ten (180) days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event Landlord shall within sixty (6010) days after the date of such damage commence or destruction or the date Landlord completes any reconstruction required to rebuild or repair the Building and/or the premises and shall proceed with reasonable diligence to restore the Building and/or premises to substantially the same condition in which be completed by it was immediately prior pursuant to the happening of the casualtyabove, except that Landlord whichever date is later, and Tenant shall not be required diligently pursue such work to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole controlcompletion.

Fire or Other Casualty. In (a) Should the event that the Building should Premises (or any part thereof) be totally damaged or destroyed by fire, tornado fire or other casualty insured under the standard fire and casualty insurance policy with approved standard extended coverage endorsement applicable to the Premises, Landlord shall, except as otherwise provided herein, and to the extent it recovers proceeds from such insurance, repair and/or rebuild the same with reasonable diligence. Landlord's obligation hereunder shall be limited to the Building and improvements originally provided by Landlord at the Commencement Date. Landlord shall not be obligated to repair, rebuild or replace any property belonging to Tenant or any leasehold or building improvements in the event Premises which were originally constructed or provided-by or on behalf of Tenant at Tenant's cost. Ifthere should be a substantial interference with the premises operation of Tenant's business in the Premises as a result of such damage or destruction which requires Tenant to temporarily close its business to the public, and such damage or destruction did not result from the acts, omissions or negligence of Tenant, its employees, invitees or guests, the Base Rent and Additional Rent shall abaxx xxuitably based on the degree of interference with the Tenant's use and occupancy of the Premises. Unless this Lease is terminated by Landlord as hereinafter provided, Tenant shall, at its cost and expense, repair, restore, redecorate and refixture the Premises and the contents thereof in a manner and to at least a condition equal to that existing prior to such damage or destruction, except for the Building should and improvements to be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after reconstructed by Landlord as above set forth, and the date proceeds of such damageall insurance carried by Tenant on the property, Landlord may at its option terminate this leasedecorations and improvements, as well as fixtures and contents in which event the rent Premises, shall be abated during the unexpired portion of this lease effective with the date of held in trust for such damagepurposes. In the event the Building or the premises should be damaged by fire, tornado or other casualty covered by Landlord's insurance, but only Tenant agrees to commence such extent that rebuilding or repairs can be completed work within one hundred eighty (180) days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event Landlord shall within sixty (60ten(10) days after the date of such damage commence or destruction or the date Landlord completes any reconstruction required to rebuild or repair the Building and/or the premises and shall proceed with reasonable diligence to restore the Building and/or premises to substantially the same condition in which be completed by it was immediately prior pursuant to the happening of the casualtyabove, except that Landlord whichever date is later, and Tenant shall not be required diligently pursue such work to rebuild, repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the premises shall be for the sole benefit of the party carrying such insurance and under its sole controlcompletion.

Fire or Other Casualty. In If the event that Premises are partially or totally damaged or rendered wholly untenantable by fire or other casualty, or if the Building should be totally destroyed by fireis substantially damaged, tornado and if Landlord decides to demolish it or other casualty not to rebuild or in the event the premises or the Building should be so damaged that rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date of such damage, Landlord may at its option terminate this lease, in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage. In the event restore the Building or the premises should be damaged by firePremises, tornado or other casualty covered by Landlord's insurance, but only to such extent that rebuilding or repairs can be completed then within one hundred eighty (180) sixty days after the fire or other casualty, Landlord shall give Tenant written notice of its decision, and the Term shall end on the later of the third day after notice is given or the date Tenant vacates the Premises. Tenant shall vacate the Premises and surrender them to Landlord promptly after receipt of such Landlord's notice. If this Lease is not terminated in accordance with the preceding provisions of this Section 19, Landlord will repair the damage, and replace, restore and rebuild the Premises and the Building using available insurance proceeds. Landlord has no obligation to expend more than the available insurance proceeds. Landlord will commence repair, replacement, restoration or if rebuilding as soon as practicable after receiving notice of the damage should be more serious or destruction, but Landlord does not elect under no circumstances later than the last to terminate this leaseoccur of: (i) thirty days after settlement and receipt of insurance proceeds, in either such event or (ii) sixty days after receipt of the notice. Landlord shall within sixty (60) days after restore the date of such damage commence Premises substantially to rebuild or repair their condition on the Building and/or the premises and shall proceed with reasonable diligence Commencement Date. Landlord is not obligated to restore the Building and/or premises to substantially the same condition in which it was immediately prior or rebuild any tenant improvements to the happening Premises. Tenant shall bear the entire risk of the casualtyloss, except that Landlord shall not be required to rebuilddamage or destruction of all additions, repair or replace any part of the furniture, equipmentimprovements, fixtures and other improvements which may have been placed property in or on the Premises or the Building. If the Premises are partially damaged or destroyed, Base Rent and Tenant's Share of Operating Expenses and Real Property Taxes shall abate in proportion to the applicable part of the Premises rendered xxxxxantable by the casualty from the date of the damage until the Premises are substantially restored. If the Premises are totally or substantially damaged, destroyed or rendered unfit for Tenant's use, the entire Base Rent and Tenant's Share of Operating Expenses and Real Property Taxes shall abate from the date of the damage until the Premises are substantialxx xxstored. If, however, Tenant reoccupies a portion of the Premises while the restoration work is taking place and before the entire Premises are substantially restored, Base Rent and Tenant's Share of Operating Expenses and Real Property Taxes shall be payable by Tenant or other tenants within the Building or the premises. Landlord shall allow Tenant a fair diminution of rent during the time the premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building should require that any insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Except as hereinafter provided, any insurance which may be carried by Landlord or Tenant against loss or damage in proportion to the Building or to the premises shall be for the sole benefit part of the party carrying such insurance and under its sole controlPremises occupied by Tenant.