Common use of Uninsured Casualty Clause in Contracts

Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by Beneficiary) of the Property unless: (aa) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor shall within forty five (45) days thereafter, deliver to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonable.

Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by BeneficiaryGrantee) of the Property unless: (aa) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor Grantor promptly notifies Beneficiary Grantee of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor Grantor shall within forty five (45) days thereafter, deliver to Beneficiary Grantee immediately available funds in an amount sufficient, in BeneficiaryGrantee’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of BeneficiaryXxxxxxx’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary Grantee shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary Grantee shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Security Deed of Trust have been satisfied. Trustor Grantor acknowledges that the specific conditions described above are reasonable.

Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by BeneficiaryLender) of the Property unless: (aa) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor Grantor promptly notifies Beneficiary Lender of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor Grantor shall within forty forty-five (45) days thereafter, deliver to Beneficiary Lender immediately available funds in an amount sufficient, in BeneficiaryLender’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of BeneficiaryXxxxxx’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary Lender shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary Lender shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor Grantor acknowledges that the specific conditions described above are reasonable.

Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by BeneficiaryLender) of the Property unless: (aa) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor Grantor promptly notifies Beneficiary Lender of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor Grantor shall within forty forty-five (45) days thereafter, deliver to Beneficiary Lender immediately available funds in an amount sufficient, in BeneficiaryLender’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of BeneficiaryLender’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary Lender shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary Lender shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor Grantor acknowledges that the specific conditions described above are reasonable.

Uninsured Casualty. The occurrence If the Premises is damaged as a result of an uninsured any casualty with respect not covered by the insurance carried or required to any material portion be carried pursuant to Article 11, then, at Landlord’s option, either (as reasonably determined by Beneficiarya) of within thirty (30) days following the Property unless: (aa) no other Default has occurred and is continuing at the time date of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary of the occurrence of damage, Landlord may elect to, and shall as soon as possible after such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restoreelection, Trustor shall within forty five (45) days thereaftercommence repair, deliver to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary shall make such funds available for the repair reconstruction or restoration of the PropertyPremises and diligently prosecute the same to completion or, (b) Landlord may elect within said thirty (30) days not to so repair, reconstruct or restore the damaged property, in which event this Lease shall cease and terminate upon the expiration of such thirty (30)-day period, unless Tenant agrees within fifteen (15) days after such election to pay the cost of the repair, reconstruction or restoration and provides Landlord with security for such payment, in which event Landlord shall be deemed to have elected the option in subpart (a) in this Section 12.2. Notwithstanding the foregoing, but subject If this Lease is not terminated pursuant to the rights provisions of this Section 12.2, then the destruction will not terminate this Lease, and all obligations of Tenant under any Leasethis Lease will remain in effect, Beneficiary shall except that, to the extent rental interruption insurance proceeds are paid to Landlord (or would have no obligation to make funds available been paid, but for repair Landlord’s breach of Section 11.2(a)), the Monthly Rental and Operating Expenses will be abated or restoration reduced, between the date of the Property unless destruction and until all the conditions date of completion of restoration, by the ratio of (a) the area of the Premises rendered unusable or inaccessible by the destruction to (b) the area of the Premises before the destruction, or abated entirely if the remaining portion of the Premises is not sufficient for the conduct of Tenant’s business. The foregoing shall not affect Tenant’s rights set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonable12.3 below.

Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by BeneficiaryMortgagee) of the Property unless: (aa) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor Mortgagor promptly notifies Beneficiary Mortgagee of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor Mortgagor shall within forty five (45) days thereafter, deliver to Beneficiary Mortgagee immediately available funds in an amount sufficient, in BeneficiaryMortgagee’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of BeneficiaryMortgagee’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary Mortgagee shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject MORTGAGE (SOUTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 to the rights of Tenant under any Lease, Beneficiary Mortgagee shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust Mortgage have been satisfied. Trustor Mortgagor acknowledges that the specific conditions described above are reasonable.

Uninsured Casualty. The occurrence In the event of an any uninsured casualty with respect fire, earthquake or other casualty, causing destruction or damage to any material portion the Improvements, Common Areas and/or Additional Areas, which has a repair and reconstruction cost of twenty-five percent (as reasonably determined by Beneficiary25%) or more of the Property unless: then-total reconstruction cost of any of said areas (aawhich percentage shall be reduced to ten percent (10%) no other Default has occurred during the last five (5) years of the Main Term or during an Option Period), Tenant shall have the option of terminating this Lease; provided that Landlord may prevent the termination of this Lease by notifying Tenant in writing within thirty (30) calendar days following Tenant's election to terminate, of its agreement to pay Tenant's repair and reconstruction costs in excess of twenty-five percent (25%) (or ten percent (10%), as the case may be), of the total reconstruction cost (the "Excess Cost"), and delivering to Tenant or the Escrow Holder, as the case may be, funds sufficient to pay the Excess Cost within sixty (60) days of Landlord's election or prior to the commencement of Tenant's construction, whichever is continuing at the time sooner. Tenant shall notify Landlord of its exercise of such casualty or occurs thereafter; option within sixty (bb60) Trustor promptly notifies Beneficiary of days following the occurrence of casualty and unless Landlord prevents such casualty; (cc) Tenant is restoring the Property pursuant termination from becoming effective, shall thereupon make available to the terms of the Lease Landlord all insurance proceeds or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor shall within forty five (45) days thereafter, deliver to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all reconstruction costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses subparagraph (bba) above. In the event Tenant does not elect to terminate this Lease as set forth above, or in the event that Landlord prevents Tenant's termination from becoming effective as set forth immediately above, then, subject to force majeure, within two hundred forty (240) days after receipt by Tenant of the required governmental permits for restoration, for which permits Tenant shall make prompt application following such destruction or damage, Tenant shall complete reconstruction of the Improvements to their condition existing immediately prior to such damage, in Tenant's reasonable discretion, with such alterations as may be permitted under paragraph 12, and shall restore the Premises (ccincluding equipment, furniture and fixtures). From the date of the casualty until Tenant resumes operations in the Premises to the same level as before such casualty, Base Rent and other charges shall xxxxx (for a period not to exceed twelve (12) consecutive calendar months) or, in the case where Tenant is still operating in the Premises, be reduced to the extent such casualty has interfered with Tenant's use of Section 6.11.b.(iiithe Premises (for a period not to exceed twelve (12) consecutive calendar months). Should Tenant elect to maintain this Lease in full force and effect, Landlord shall reconstruct Common Areas sufficient to enable Tenant and the remaining occupants to operate their business at the same level as prior to such casualty, but in all events, Landlord shall reconstruct Tenant's Preferred Area. Additionally, except as to the Prior Leases, Landlord shall assure (through parallel lease provisions or otherwise) that all areas of this Deed the Shopping Center leased to third party tenants or sold to third party occupants are subject to substantially similar reconstruction obligations to those of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonablePremises, Common Areas and Additional Areas.

Uninsured Casualty. The occurrence If ten percent (l0%) or less of the Premises and ------------------ the building of which the same are a part is damaged by an uninsured casualty peril, Sublessor shall cause Lessor to promptly and diligently proceed to repair and restore the same to Substantially the same condition as existed prior to such damage of destruction as required under the Lease; provided, however, that should the damage be caused by the act, negligence, fault or omission of any duty with respect to any material portion the same by Sublessee, or its agents, servants, employees or invitees, Sublessee and not Lessor shall be so obligated to repair and restore. Sublessee acknowledges that under the Lease if the Premises are damaged by an uninsured peril rendering more than ten percent (as reasonably determined by Beneficiary10%) of the Property unless: Premises unusable for the conduct of the business of Sublessor (aaas "Lessee" under the Lease), Lessor upon written notice given to Sublessor (as "Lessee" under the Lease) no other Default has occurred and is continuing at the time of such casualty or occurs thereafter; within thirty (bb30) Trustor promptly notifies Beneficiary of days after the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant damage may elect to the terms of the Lease or is consummating a substitution pursuant to the terms of terminate the Lease; provided, however, that Sublessor may, within thirty (30) days after receipt of Lessor's notice of termination, elect to make any required repairs and/or restoration, in which event the Lease will remain in full force and effect as provided therein. Sublessor hereby grants Sublessee the right to elect to make the repairs (ddat Sublessee's sole cost) if Tenant is not restoring the Property pursuant circumstances referred to in the terms preceding sentence occur, in which event, and provided Sublessee timely notifies Sublessor, Sublessor shall give notice of such election to Lessor before expiration of the Lease thirty (30) day period referred to in the preceding sentence. If Sublessee elects to complete such repairs at its own expense in accordance with the foregoing, Sublessee shall indemnify, defend, protect and an Event of Default exists hold harmless Sublessor from all claims, losses, liabilities, expenses and costs (including reasonable attorneys' fees), but excluding the amount by which base rental payable under the Lease exceeds the Base Rent payable under the Sublease, incurred by virtue of Sublessor in connection with Sublessee's election. During any such failure repairs or restoration, Rents and all other amounts to restore, Trustor shall within forty five (45) days thereafter, deliver to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs be paid by Sublessee on account of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject Premises shall xxxxx in proportion to the rights area of Tenant under any Lease, Beneficiary shall make such funds available the Premises rendered not reasonably suitable for the repair or restoration conduct of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonableSublessee's business.

Uninsured Casualty. The occurrence Notwithstanding Paragraph 20(a), and subject to the termination right in Paragraph 20(b), in the event of an uninsured a total or partial destruction of the Building (i) by a casualty with respect both of a type not required to be insured against by Landlord under the terms of this Lease and not actually insured against by Landlord, or (ii) under circumstances where the net insurance proceeds (plus applicable deductibles that are included in Expenses) obtained as a result of such casualty (or, if Landlord fails to carry any material portion specific insurance that Landlord is obligated to carry under this Lease, or fails to pay premiums for such insurance and such failure does not result from Tenant's failure to perform its obligations hereunder, proceeds that would have been payable to Landlord in the absence of such failure) are ninety percent (as reasonably determined 90%) or a lesser percentage of the cost of restoration, rebuilding or replacement (including without limitation if such circumstances result from a requirement by Beneficiaryany Mortgagee that Landlord utilize insurance proceeds to pay down the Mortgage), which destruction exceeds five percent (5%) of the Property unless: replacement cost of the Building, Landlord may elect, in its sole discretion by written notice to Tenant within thirty (aa30) no other Default has occurred days after the date of such damage, to either (x) terminate this Lease, or (y) if the damage can be reconstructed within two hundred seventy (270) days after the date of such damage, to reconstruct the Building, in which event this Lease shall continue in full force and is continuing effect. However, notwithstanding the foregoing, if Landlord elects not to reconstruct, Tenant may by written notice to Landlord within ten (10) days after Landlord notifies Tenant of Landlord's election, request that Landlord undertakes such reconstruction on the condition that Tenant agrees in such written request to pay the entire cost for reconstruction of the Building (as determined by Landlord in its reasonable discretion), which shall be paid (in lump sum or in progress payments, at Landlord's election) to Landlord within thirty (30) days after receipt of an invoice or invoices from Landlord. If either (a) the remaining Term of the Lease at the time of such casualty destruction is less than ten (10) years (which Term will include the Extension Term if Tenant delivers its Extension Notice prior to or occurs thereafter; together with Tenant's reconstruction request), or (bbb) Trustor promptly notifies Beneficiary the restoration or repair of the occurrence Building (including any period of such casualty; (cc) Tenant is restoring the Property pursuant time necessary to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) obtain construction financing, if Tenant is does not restoring the Property pursuant agree to the terms of the Lease fund such construction) will take more than two hundred and an Event of Default exists under the Lease by virtue of such failure to restore, Trustor shall within forty five seventy (45270) days thereafterto complete, deliver then Landlord shall not be obligated to Beneficiary immediately available funds reconstruct the Building in an amount sufficientresponse to Tenant's request but, rather, Landlord shall consider Tenant's request in Beneficiary’s DEED OF TRUST Landlord's sole discretion. Landlord shall respond to Tenant's written request within thirty (NORTH CAROLINA30) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s days after receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary shall make such funds available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonablethereof.

Uninsured Casualty. The occurrence Notwithstanding Paragraph 20(a), and subject to the termination right in Paragraph 20(b), in the event of an uninsured a total or partial destruction of the Premises (i) by a casualty with respect of a type not required to be insured against by Landlord under the terms of this Lease, or (ii) under circumstances where Landlord has been required by any material portion Mortgagee to utilize substantially all of the insurance proceeds to pay down the Mortgage (substantially all, for such purpose, being defined as reasonably determined by Beneficiaryninety percent (90%) or more of the cost of restoration), which destruction exceeds five percent (5%) of the Property unless: replacement cost of the Building, this Lease shall automatically terminate, unless (aax) no other Default has occurred Landlord elects to reconstruct the Building (not including the Tenant Improvements), and is continuing at (y) the time damage can be reconstructed within two hundred seventy (270) days after the date of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary of the occurrence of such casualty; (cc) Tenant is restoring the Property pursuant to the terms of the Lease or is consummating a substitution pursuant to the terms of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restoredamage. However, Trustor shall within forty five (45) days thereafter, deliver to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject to the rights of Tenant under any Lease, Beneficiary shall make such funds available for the repair or restoration of the Property. Notwithstanding notwithstanding the foregoing, but subject if Landlord elects not to reconstruct, Tenant may by written notice to Landlord within ten (10) days after Landlord notifies Tenant of Landlord's election, request that Landlord undertake such reconstruction on the rights of Tenant under condition that the cost incurred by Landlord for such reconstruction (less any Lease, Beneficiary insurance proceeds actually received by Landlord and available to Landlord for application to such reconstruction) shall have no obligation to make funds available for repair or restoration be amortized over the useful life of the Property unless and until all the conditions set forth in clauses Building (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges except that the specific conditions described above are reasonablecost for reconstruction of any Tenant Improvements shall be paid by Tenant in its entirety within thirty (30) days after receipt of an invoice therefor), and shall be reimbursed by Tenant to Landlord as an Additional Charge together with interest at the Default Rate; provided, however, that Tenant shall not be obligated to pay for any portion of the useful life of the Base Building Improvements which extends beyond the Expiration Date (as it may be extended by the Extension Term(s)). Landlord shall respond to Tenant's request, in Landlord's sole discretion, within thirty (30) days after receipt thereof. If Landlord reconstructs the Building pursuant to this Paragraph 20(c), Tenant shall be obligated to reconstruct the Tenant Improvements, at Tenant's cost.

Uninsured Casualty. The occurrence If any Improvements located upon the Real Property are destroyed or substantially damaged during the period following the exercise of the Option and prior to the Closing by a Casualty which is not an uninsured casualty with respect to any material portion Insured Casualty, and the Restoration Costs (as reasonably agreed between Buyer and Seller or as determined under Section 14.1.4) shall exceed the available insurance proceeds, if any (other than proceeds of business interruption insurance), by Beneficiarymore than Two Hundred Thousand Dollars ($200,000) (the "Uninsured Casualty Threshold Amount"), Buyer shall have the right to terminate this Agreement by giving Seller written notice of termination within ten (10) business days following the Property unless: (aa) no other Default has occurred and is continuing at the time date of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary receipt of Seller's notice of the occurrence of such casualty; destruction or damage (cc) Tenant or if a longer period of time is restoring the Property pursuant reasonably required to the terms of the Lease determine whether a Casualty is or is consummating a substitution pursuant not an Insured Casualty, or to agree upon or determine Restoration Costs or the terms amount of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restoreinsurance proceeds which will be available, Trustor shall within forty five (455) business days after all such determinations have been made); whereupon this Agreement shall terminate, except as specified in Section 14.1.3. If this Agreement is so terminated, then neither party shall have any further rights or obligations hereunder (except with respect to those matters expressly stated to survive such termination), the Deposit, and all interest accrued thereon, shall be returned to Buyer within two (2) business days thereafter, deliver and each party shall bear its own costs incurred hereunder. In all events, however, Seller shall be entitled to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s DEED OF TRUST retain the Option Payment. If (NORTH CAROLINAa) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, damage to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafterImprovements occurs, but subject to the rights of Tenant under any LeaseRestoration Costs, Beneficiary shall make such funds less the available for the repair or restoration of the Property. Notwithstanding the foregoing, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonable.insurance

Uninsured Casualty. The occurrence If any Improvements located upon the Real Property are destroyed or substantially damaged during the period following the exercise of the Option and prior to the Closing by a Casualty which is not an uninsured casualty with respect to any material portion Insured Casualty, and the Restoration Costs (as reasonably agreed between Buyer and Seller or as determined under Section 14.1.4) shall exceed the available insurance proceeds, if any (other than proceeds of business interruption insurance), by Beneficiarymore than Two Hundred Thousand Dollars ($200,000) (the "Uninsured Casualty Threshold Amount"), or if such Casualty shall result in a Lease Termination, Buyer shall have the right to terminate this Agreement by giving Seller written notice of termination within ten (10) business days following the Property unless: (aa) no other Default has occurred and is continuing at the time date of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary receipt of Seller's notice of the occurrence of such casualty; destruction or damage (cc) Tenant or if a longer period of time is restoring the Property pursuant reasonably required to the terms of the Lease determine whether a Casualty is or is consummating a substitution pursuant not an Insured Casualty, or to agree upon or determine Restoration Costs or the terms amount of the Lease; and (dd) if Tenant is not restoring the Property pursuant to the terms of the Lease and an Event of Default exists under the Lease by virtue of such failure to restoreinsurance proceeds which will be available, Trustor shall within forty five (455) business days after all such determinations have been made); whereupon this Agreement shall terminate, except as specified in Section 14.1.3. If this Agreement is so terminated, then neither party shall have any further rights or obligations hereunder (except with respect to those matters expressly stated to survive such termination), the Deposit, and all interest accrued thereon, shall be returned to Buyer within two (2) business days thereafter, deliver and each party shall bear its own costs incurred hereunder. In all events, however, Seller shall be entitled to Beneficiary immediately retain the Option Payment. If (a) damage to such Improvements occurs, but the Restoration Costs, less the available funds insurance proceeds, if any (other than proceeds of business interruption insurance), is less than or equal to the Uninsured Casualty Threshold Amount and such Casualty does not result in a Lease Termination, or if (b) Buyer does not elect to terminate this Agreement, or if (c) Buyer elects to terminate this Agreement, but this Agreement nevertheless does not terminate due to the operation of Section 14.1.3, then, in any of such cases, Buyer shall remain obligated to perform all of its obligations under this Agreement, and at Closing, Buyer shall receive a credit against the Purchase Price in the amount of (A) any insurance proceeds collected and retained by Seller as a result of any such damage or destruction (other than proceeds of business interruption insurance relating to periods prior to the Closing), plus (B) an amount sufficientequal to the lesser of (i) the uninsured Restoration Costs, or (ii) Two Hundred Thousand Dollars ($200,000); plus (C) if Section 14.1.3 is applicable, the Additional Amount specified in Beneficiary’s DEED OF TRUST (NORTH CAROLINA) Xxxxx Fargo/Xxxx Properties/Cracker Barrel Loan Xx. 00-00000000/Xxxxx Xx. 000 reasonable opinion, to pay all Section 14.1.3; but reduced by the costs of any repairs performed by Seller with Buyer's approval, which approval shall not be unreasonably withheld, and Seller shall assign to Buyer all rights to such insurance proceeds as shall not have been collected prior to the repair or restoration Closing (including, without limitation, taxes, financing charges, other than proceeds of business interruption insurance and rent during the repair periodrelating to periods prior to close of escrow). So long as no Default has occurred and is continuing at Buyer shall have the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, but subject right to the rights of Tenant under participate in any Lease, Beneficiary shall make such funds available for the repair or restoration adjustment of the Property. Notwithstanding the foregoinginsurance claim in connection with any Casualty, but subject to the rights of Tenant under any Lease, Beneficiary shall have no obligation to make funds available for repair whether or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of Section 6.11.b.(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonablenot such Casualty is an Insured Casualty.