HomeMy WebLinkAbout0825 para~Jral~i~, t~ic Lc~s.~c s2ia11 ; urr.i~h :>olicic,:; ir: ;uri:~:,~ ~:e ;
actual r`~~' :c.~.acnt cos~s, saii_ valuatioi: ~::ull 'ae wit:~out ~
deduci.;•~ .:~preciatioi~ insofar as suciz covcra~c r: ay be
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obtainu:. ~ a.:d such case the t~rrn "n;u~ir,:ar.2 insurabie ~
Vdlll~ uS L18~?CZ i'ivi 01T1 SI2d11 ::ear. t:1C c CtL:c'11. replace::lEY: ~ COS ~
of the proi~crty required to pe insured without deduction ;
for deprecia~i~n.
_ (1) All insurar.ce req~:irec? to b~ car.ricc
s:zall be effecten unc:er poiicies writi.en in suc:~:
form and issuen by suc:i co:::~?uaies as shall be GpLr~vec:
bv the Lessor, who shall no:. unreasonably withnoln such _
approval. .~11 policies shaii be tor the b~nefit of t~e ;
Lessor and the Lessee as their res~ective ir.~eres-~s -
. may ap~ear, and shall be s~:~ject to sucn provisions ~
as mortgagees of :Ize De:aised Prc:~lises may require .
13. Reco:~struction and Repair. Upo:~ ~he occurrence of a:~y
i:anage or toLal or par ~ial ciestruction to any por ~ion of tze De:nisec
Premises, wrether or not the cas~aalty causing such da.-nage be insured
against, and caheth~r or not, if insured, any proceeds are ~ u~.~ in
connection therewitii, the foregoi:~g provisions shall apply: ~
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a. Lease to Cor.tinue. The ccstructio:., altera~ion,
demolition or non-use or otner deL2rioratio:. in condi~ion
of the Demised Premises or any portio:~ t:iereo~, regardless of the
nature ther~of or events whic~i cause such destructior., alter-
ation, deric~ition or non-use, except takir.g by emi~ent c~o::ain,
snall not in any way reduce, ~a~e or suspena the Lessee's obli-
gations and covenants hereunaer nor shall the same effect a
termination in whole or ia part of this Lease.
p. ~econstructio:~ ar.d ~2~;~~_i~ by L~ssee. T:.e ~ essee,
at its ex~e:~se, s.,all repair and reco:zstruc~, if necessa~y,
any- and all i:::nrove~-nents, buildinss ar.d structures d~;:agec, _
and shall replace or repair a?1 persor.:?. ~ro~erry damage~
so as to r~s ~o~e the sa-ne ir.to good cc::~.~tior.. Fcr 4:
~
purposes o~ tris paragraph, as wzll as when used else~vnere
ir. ti~is Agree.=nent, "good concition" shall r~ean t:.e bes ~
' condition in wnicn it is reasonably ~ossibie to repluce
~t tze real ~r x~ersonal proper~y ir.volveci. Work necessary to
ac:.orlplish :,~.e replacing or re~air of any damaged or
~ des ~royed i.::prove:nents or pe~ sona 1 prooer ~y sha 11 be ccn-
~ - r;.enced no la ~er : han s ixiy ( c 0) days af ter the occurre: ce
of dar..age, and shall i~e corlnieted no later ti2an ten (10)
,«onths after date of co:r~encemen~, nroviaed, r,owever, t:.ese
ti:; e li,:itations shall be extendea by reaso:~ o~ any ti~e
~ lost due to ar. Act of Goa, war, civil insurrectio:~, strikes
or other events over which t.:ie Lessee has r:o controi .
~ t
~ c. P la :s , S~e~if ica ~ions a.^d ~sti:
iat~s . Witr.i;: t.ir ty ~
(30) cays Gf `~-r ~.:~e occ~rre:.ce o~ car::ar~ requiring replace-
r,tent or repair of iriprove.aents ~o e~enised 2rc~lises, ~
~
w'r.erei~ sucn re~lace^.:ent or re~air requires ~he issua:.~~= of i
~ by a:~d pursua :t ~c ~~~e ordi~.a:.c~s
a builciing or o..her perr:,i~ '
o= a goverr:.-r.en~al au~:zori~j , t:~~ ~essee shall s~:~oly to i:.c
~essor plans anci specifica~io: s:.or suciz rccar_struction a::ci
rea~;:ir. Said plans and s~eci~ica~ions shGll be preparec~ by
anc be ur.der t::e cer~ificate of an arc:zitec~ licer.se~ to
k_ p~ac~ice in :ze S~~~e of : ioriua. V:ithin t::irt.y (30) c~uys ;
~ ~.~-,er~~~ ~er the Lessee sl:all f::r:~ish to the Lessor a co:.~% of _ `
~ a cant~act execLted by ar. inc:e~ e;iuent, lic~nsed, ge :e~~::.~
~
conzrGc~or wi:erein ~he wor:~c, lar~or and :aaterials ir.::icatec,
~ -
~ ~y suc,: p? ar.s anu s~ecifica~~ons are to be fur: ishea at ar.
~ agreec price a: d a perfo ar,ce, cor.~pletion a:~d pay:~:~nt
bond is provineZ for.
~
. ProceeCS o~ I:~s~:~ a:.c~.
(1) 1 u, d. In ~i-.~: ev~:.t r.roceecs ot insurance
s:all be paya~ie by reason cf ca~ar,e and/or total ;
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i..AW OFFICES OF GOLD~EiN. FRAl~KLI~F. GY.CtiiN @ S:.HRANK, ?.A., ~~ZG Nlih~HEhST 163H~ STREET, thORTH M~A~S~ G_.CH. i~CR:~A :,.;~,;Z
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