DAMAGE BY FIRE. 12.01 – Restoration of Premises The parties hereto mutually agree that if the Premises are partially or totally destroyed or damaged by fire or other hazard, then Landlord shall repair and restore the Premises as soon as is reasonably practicable to substantially the same condition in which the Premises were before such damage; provided that if the insurance proceeds collected or collectible and available to Landlord to pay the cost of such repairs and restoration by Landlord as a consequence of such destruction or damage are less than the estimated cost of such repairs and restorations, Landlord shall not be obligated to commence or perform such repairs and restorations and this Lease upon notice by Landlord to Tenant shall at the option of Landlord terminate unless Tenant undertakes (in form and upon terms satisfactory to Landlord) to pay the difference between such estimated cost and such insurance proceeds. If, however, the Premises are completely destroyed or so damaged that Landlord cannot reasonably restore or rebuild in four (4) months to substantially the same condition to which the Premises were before such damage, then Landlord shall receive the insurance proceeds, this Lease may be terminated by Tenant serving notice upon Landlord following the expiration of such sixty (60) days, but in no event may Tenant terminate this Lease after such repairs have been commenced by Landlord. In the event the Premises are completely or partially destroyed or so damaged by fire or other hazard that they cannot be reasonably used by Tenant or can only be partially used by Tenant, and this Lease is not terminated as above provided, there shall be no abatement of rent, it being understood and agreed that Tenant shall at its discretion, cost and expense procure necessary insurance to protect itself against any interruption of its business.
DAMAGE BY FIRE. In the event of loss of, or damage to, the Premises or the Building or the Garage by fire or other casualty, the rights and obligations of the parties hereto shall be as follows:
DAMAGE BY FIRE. In case the apartment is damaged by fire or other causes so that you cannot continue to occupy it, this lease will end and you will vacate the apartment within ten days from the date of damage.. If the apartment or common areas are damaged by fire or other causes brought about by you or your guest(s) actions or negligence, you will be held financially responsible for all costs and repairs.
DAMAGE BY FIRE. In case the home is damaged by fire or other causes through no fault of yours so that you cannot continue to occupy it, this lease will end and you will vacate the home within ten days from the date of damage and your rent will be apportioned to the date the damage occurred. If, however, you continue to occupy the home for more than ten days after the damage occurred, you will continue to pay the full rent. If the home or community property damaged by fire or other causes brought about by you or your guest(s) actions or negligence, you will be held financially responsible for all costs and repairs.
DAMAGE BY FIRE. In the event that the leased premises are damaged or -------------- destroyed by fire to the extent of fifty (50) percent or more of the Premises, the Tenant shall have the option of terminating this lease. If all or a portion of the Premises are made unusable by reason of damage by fire or other casualty, the rent shall equitably abated for any period said Premises are not usable. In case of destruction or injury to the demised premises, the Owner shall restore said demised premises reasonably to the same condition as originally leased, and during such restoration period, the rental shall be prorated and returned to the Tenant proportionate to available use; provided however, if the destruction or injury shall exceed fifty (50) percent of the replacement cost, the Owner and/or Tenant shall have the option of terminating this Agreement, and the rental shall be prorated and returned to the Tenant as of the date of destruction. In the event that a mutually selected contractor estimates the period of restoration will exceed 120 days, the Tenant shall have the right to terminate this Lease. In the event the estimated period of restoration is less than 120 days, but the actual period of restoration exceeds 120 days, this Lease shall not terminate, but rent shall continue to be prorated as provided herein. In the event said Premises shall be taken under eminent domain proceedings in whole or to the extent that they are not functional for the Tenant, then this Agreement shall be terminated, and the rental shall be prorated and returned to the Tenant as of the date of such taking.
DAMAGE BY FIRE. 42. The landlord is responsible for returning to the tenant any portion of rent paid for any period that the premises is rendered uninhabitable by fire or other risk against which the landlord has effected insurance. Necessary consents
DAMAGE BY FIRE. If the Leased Premises shall be damaged by fire or other casualty during the term hereof, Landlord agrees that it will restore said premises with reasonable dispatch to subsequently the same condition they were in prior to such damage, insofar as the proceeds from Landlord's insurance permit. If the Leased Premises are rendered untenantable in whole or in part as a result of such damage, the rent payable hereunder shall be equitably and proportionately abated (according to loss of use) during the period intervening between the date of such damage and the date the Leased Premises are restored; provided, however, that if such damage occurs during the last two (2) years of the term and exceeds fifty percent (50%) of the insurable value of said premises at the time such damage occurs, either Landlord or Tenant may terminate this Lease as of the date of such damage by giving the other written notice of its intention to do so, within thirty (30) days after such damage occurs. If this Lease is so terminated, then rent payable hereunder shall be abated as of the date of such damage, and Tenant shall remove all of its property from the Leased Premises within thirty (30) days after the notice of termination was given.
DAMAGE BY FIRE. In the event of casually loss, Tenant shall repair or reconstruct the demised premises with the aforesaid insurance proceeds. However, if at any time within two (2) years prior to the end of the initial or any renewal term, and provided the Tenant shall not have served upon the Landlord notice of its exercise of the options as herein provided, the demised premises are completely destroyed or so damaged by fire or other casualty covered by insurance as to render it unfit for use as a bank, and repair or restoration is not economically feasible, the Landlord or the Tenant may terminate this Lease with .. Such notice shall be given within sixty (60) days after the date of such damage or destruction. If the Lease shall so terminate, all basic rent shall be apportioned to the date of termination and all insurance proceeds shall belong to the Landlord. If the Lease is not so terminated and the proceeds of insurance are insufficient to pay the full cost of repair or restoration, the Tenant shall pay the deficiency. If the insurance proceeds exceed such cost, the excess shall be paid to the Tenant.
DAMAGE BY FIRE. If the Bank Facility or other improvements on the Leased Premises shall be damaged or destroyed by fire or other casualty, Landlord shall promptly and diligently proceed to repair, rebuild or replace the Bank Facility and other improvements, so as to restore the Leased Premises to the condition in which they were immediately prior to such damage or destruction. The net proceeds of any insurance recovered by reason of such damage or destruction shall be held in trust by Landlord and released for the purpose of paying the fair and reasonable cost of restoring the Bank Facility and other improvements. Proceeds shall be released by Landlord from time to time as the work progresses. This provision shall not apply to any insurance proceeds for loss of equipment or personal property of Tenant. Prior to the commencement of the work, Landlord and Tenant shall agree upon a contractor to perform the repairs. Tenant shall not be required to expend any funds to repair the Banking Facility. If at any time it is determined that the balance of such proceeds are not adequate to pay the cost of restoration, or there is reasonable doubt of the adequacy, Landlord may, at Landlord’s sole option, either (i) terminate this Lease by giving Tenant at least sixty (60) days prior notice specifying the termination date, unless Tenant before the termination date agrees to pay the excess cost when determined and gives Landlord adequate security for the payment, or (ii) make additional funds available for restoration. Except as provided for herein, it is understood and agreed that damage to or destruction of all or any portion of the Leased Premises by fire or by any other cause shall not terminate this Lease nor entitle Tenant to surrender the Leased Premises. However, Tenant’s obligation to pay the rent and other sums hereunder, shall be abated for the period of time that the Premises shall be rendered uninhabitable for Tenant’s purposes; provided that the amount of the abatement shall be limited to proceeds for rental loss insurance.
DAMAGE BY FIRE. It is agreed that if the premises hereby demised, or the building or buildings of which the demised premises are a part, or any portion thereof, or any improvements now or hereafter constructed thereon or added thereto, shall be condemned by any public authority, or shall be damaged by fire or otherwise, so as to render same or any portion thereof, in the opinion of Landlord, untenantable, Landlord shall have the right, at any time within ninety (90) days after the condemnation or fire, to cancel and terminate this lease, by giving to Tenant, within said ninety (90) day period, written notice of Landlord's intention to do so. If the lease is not terminated by Landlord, the demised premises shall be restored, with reasonable dispatch, by and the expense of Landlord, and the rent due hereunder shall be proportionately abated, according to the loss of use until said premises are substantially restored.
