FIRE AND CASUALTY DAMAGE. (a) Tenant agrees to maintain property insurance covering the Building, Improvements and all alterations, additions, partitions and improvements erected by, or on behalf of, Tenant in, on or about the Premises in an amount not less than 100% of the "replacement cost" thereof as such term is defined in the Replacement Cost Endorsement to be attached thereto (but excluding excavations, foundations and footings), insuring against the perils of Fire, Lightning, Vandalism and Malicious Mischief, extended by Special Extended Coverage Endorsement to insure against all other risks of direct physical loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the State of Colorado for use by insurance companies admitted in Colorado for the writing of such insurance on risks located within Colorado. Such insurance shall cover those risks of loss that a reasonable and prudent property owner of a like or similar building located in Denver, Colorado would insure against, including liability and loss of rents coverage. Landlord and its mortgagee will be named as loss payees in the policy providing such property insurance on the Improvements. All such policies shall be procured by Tenant from responsible insurance companies reasonably satisfactory to Landlord and licensed in the State of Colorado. Certificates of Insurance for each such policy of such insurance, together with receipt evidencing payment of the premiums thereof or shall be delivered to Landlord prior to the Commencement Date of this Lease. Not less than fifteen (15) days prior to the expiration date of any such policies, new Certificates of Insurance (bearing notations evidencing the payment of renewal premiums) shall be delivered to Landlord. Such policies shall further provide that not less than thirty (30) days written notice shall be given to Landlord before such policy may be canceled or changed to reduce insurance provided thereby. If requested by the holder of any indebtedness secured by a mortgage or Deed of Trust covering the Premises, certified copies of the insurance policies will need to be furnished in lieu of the certificates of insurance.
FIRE AND CASUALTY DAMAGE. If the Premises are so injured or damaged by fire or other cause as to be uninhabitable for more than 120 days, then the Tenant may terminate this Lease upon written notice to the Landlord. A total destruction of the Premises shall automatically terminate this Lease. If this Lease is not so terminated, then the Landlord shall diligently restore the damaged Premises at its sole cost and expense as soon as is reasonably practical, but in all events less than 120 days from the date of such damage or casualty, and if the Landlord fails to do so, then the Tenant may terminate this Lease by delivering written notice to the Landlord. The Tenant will be entitled to an abatement of Rent for the period of time that all or any portion of the Premises are not useable for the Tenant’s business due to such casualty based on the portion of the Premises that the Tenant is unable to use. If any such damage occurs before closing but after the Tenant has exercised its Option to Purchase, then the Tenant may, within 30 days after the date of such damage, by delivery of written notice to the Landlord, cancel and rescind the Tenant’s exercise of the Option to Purchase. Each of the Landlord and the Tenant hereby releases the other (and the other’s employees, officers, shareholders, directors, and members) from any and all liability or responsibility to the other or any claiming through or under them by way of subrogation or otherwise for any loss or damage to property caused by fire or any other perils which may be insurable in policies of insurance covering such property and required to be carried within this Lease, even if such loss or damage shall have been caused by the fault or negligence of the other party, or anyone for whom such party may be responsible. Each party shall cause its insurance policies to contain a clause or endorsement to the effect that such release shall not adversely affect or impair said policies or prejudice the right of the releasor to recover thereunder and to the effect that such insurer waives its rights of subrogation as to such released or waived claim.
FIRE AND CASUALTY DAMAGE. A. If the Premises or the building of which the Premises are a part should be damaged or destroyed by fire or other peril, Tenant immediately shall give written notice to Landlord. If the buildings situated upon the Premises or of which the Premises are a part should be totally destroyed by any peril covered by the insurance to be provided by Landlord under Paragraph 9A above, or if they should be so damaged thereby that, in Landlord's estimation, rebuilding or repairs cannot be completed within one hundred eighty (180) days after the date of such damage, this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease effective upon the date of the occurrence of such damage.
FIRE AND CASUALTY DAMAGE. If the Building in which the Premises are located is totally destroyed or damaged by fire or other casualty, this Lease shall immediately terminate. If the Building in which the Premises are located is only partially destroyed or damaged, so as to render the Premises untenantable, or not usable for their intended purpose, the Lessor shall have the option to elect to repair and restore the Premises or terminate the Lease. The Lessor shall be permitted a reasonable amount of time, not to exceed one hundred and eighty (180) days from the event of destruction or damage, to repair or restore the Premises, if the Lessor submits to the Government a reasonable schedule for repair of the Premises within thirty (30) days of the event of destruction or damage. If the Lessor fails to timely submit a reasonable schedule for completing the work, the Government may elect to terminate the Lease effective as of the date of the event of destruction or damage. If the Lessor elects to repair or restore the Premises, but fails to repair or restore the Premises within one hundred and eighty (180) days from the event of destruction or damage, or fails to diligently pursue such repairs or restoration so as to render timely completion commercially impracticable, the Government may terminate the Lease effective as of the date of the destruction or damage. During the time that the Premises cannot reasonably be utilized for its intended use, rent shall be abated. Termination of the Lease by either party under this clause shall not give rise to liability for either party. This clause shall not apply if the event of destruction or damage is caused by the Lessor’s negligence or willful misconduct.
FIRE AND CASUALTY DAMAGE. (a) If the Building should be damaged or destroyed by fire, tornado or other casualty, Tenant shall give immediate written notice thereof to Landlord.
FIRE AND CASUALTY DAMAGE. A. If the Building, Improvements, or leased premises are rendered partially or wholly untenantable by fire or other casualty, and if such damage cannot, in Landlord's reasonable estimation, be materially restored within ninety (90) days of such damage, then Landlord or Tenant may, at its sole option, terminate this Lease as of the date of such fire or casualty. Landlord or Tenant shall exercise its option provided herein by written notice within sixty (60) days of such fire or other casualty. For purposes hereof, the Building or leased premises shall be deemed "materially restored" if they are in such condition as would not prevent or materially interfere with Tenant's use of the leased premises for the purpose for which it was then being used.
FIRE AND CASUALTY DAMAGE. If the building or other improvements on the Demised Premises should be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice thereof to Landlord. The rights and obligations of Landlord and Tenant in the event of such casualty shall be as follows:
FIRE AND CASUALTY DAMAGE. (a) Landlord agrees to maintain insurance covering the building of which the Premises are a part in an amount not less than eighty (80%) percent (or such greater percentage as may be necessary to comply with the provisions of any co-insurance clauses of the policy) of the replacement cost thereof, insuring against the perils of Fire. Lightning, Extended Coverage, Vandalism and Malicious Mischief, extended by Special Extended Coverage Endorsement to insure against all other Risks of Direct Physical Loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the Premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state. Subject to the provisions of subparagraphs 15.01 (c), 15.0 1 (d), and 15.01 (e) below. such insurance shall be for the sole benefit of Landlord and under its sole control.
FIRE AND CASUALTY DAMAGE. A. Tenant shall give immediate written notice to Landlord of any damage caused to the Premises by fire or other casualty.
FIRE AND CASUALTY DAMAGE. (a) Landlord agrees to maintain insurance covering the building of which the premises are a part in an amount not less than eighty (80%) percent (or such greater percentage as may be necessary to comply with the provisions of any co-insurance clauses of the policy) of the replacement cost thereof, insuring against the perils of Fire, Lightning, Extended Coverage, Vandalism and Malicious Mischief, extended by Special Extended Coverage Endorsement to insure against all other Risks of Direct Physical Loss, such coverages and endorsements to be as defined, provided and limited in the standard bureau forms prescribed by the insurance regulatory authority for the state in which the premises are situated for use by insurance companies admitted in such state for the writing of such insurance on risks located within such state, Subject to the provisions of subparagraphs 15.01(c), 15.01(d), and 15.01(e) below, such insurance shall be for the sole benefit of Landlord and under its sole control.
