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Home My WebLink About1808 . • ~ a. Lease to continue. The destruction, alteration, dem- . olition or non-use or o er deterioration in cor~dition oP the Demised Premises or ar~y portion thereof, re~ardless or the na- ture thereof or even~g which cause such destruction, alteration, demolition ox non-use, except taking by eminent domain, shall not in any w~y reduce, abate or suspend the Lessee~s obligations . and covenants hereunder nor shall the same effect a termination in whole or in part of this Lease. b. Re~construction and Repair by Lessee. The Lessee~ at its expense, s a repa r an recons ruc , necessary, anbr and all improvements, buildings and structures damaged, and shall re- place or repair all personal property damaged so as to res~ore the same into good condition. For the purposes of this paragraph, ~ as wel7. as when used elsewhere in this Agreement, "good condition" shall mean the best condition in~which it is reasonably possible - to replace the real or personal property involved. Work neces- sary to accomplish the replacing or repair of any d~maged or de- stroyed imgrovements or personal property shall be commenced not later than sixty (60) days after the occurrence of damage, and ' shall be completed no later than ten (10) months after.date of commencement, provided, however, these time limitations shall be extended by reason of~any time lost due to an Act of God, war, civil insurrection, strikes or other events over which the I~essee has no control. , c. Plans, Specifications and Estimates. Within thirty (30) ~ days after e occurrence o amage requ ng replacement or.re- . pair of improverr.ents to ~ the Demised Premises, wherein such replace- ment or repair requires the issuance of a building or otner permit by and pursuant to the ordinances of a governmental authority, the Lessee shall supply to the Lessor plans and specifications for such reconstruction and repair. Said plans and specifications shall be prepared by and be under the certiFicate of an architect licensed to practice in the State of Florida. Within thirty (30} days there- ~ ~ after the 7~essee shall furnish to the Lessor a copy of a contract executed by an independent, licensed, general contractor wherein the work, labor and materials indicated by such plans and specifi- cations are to be f'urnished at an agreed price and a performance, completion and payaaent bond is provided for. i _ ; d. Proceeds oP Insurance. ~ ~ (1) Fund. In the event pr~oceeds of insurance shall be payable~y reason of damage and/or total or partial ~ .destruction of the Demised Premises, or any portion there- of, and as often as such insurance proceeds shall be pay- able, the sarae shall be paid to the Lessor, an,d said sums so paid shall be deposited in a special account of the Les- sor in a bank in St. Lucie County, Florida, and such sums shall be available to the Lessee for the nurpose of recon- ~ ~struction and repair pursuant to the provisions of tr,is paragraph. Such monies shall be paid out of said special account from time to time by the Lessor upon the certiPi- cate of the Lessee or of the contractor ~aho has contracted for the performance of such reconstruction an8 repair, cer- tifying that the amount of the payment is being applied to tr.e payment of obligations incurred for such recons ~ruction and repair, provided, however, the Lessor shail have the ~ :igr.t to make such payment directly to the sub-contractor ~ -or materialman to whom su.•ns of r.~oney r.zay be due ar.d ots~ng from time to time, as reflected in such certificate, arxi f provided, Purther, that the Lessor snall have the right to j require the Lessee at the time of contracting for or iznder- taking such repair or reconstruction, ard/or at such addi- tional tirr,e thereafter as may be appropriate, to provide evider.ce satisfactory to the Lessor that at all ~i,~s the undisbursed portion of such fund in said bank account is ~ sufficient to pay for the recor.struction and repair in its er,tirety, and if at any t~~r~e it should reasonably appear to the Lessor tnat said funds will be insuufPicient t,o pay ~ -9- ~ o~~$$ ~~E1805 ~ LAW OrfIGEf OF GOLGiTEtN, FRANKLIN, CMONIN ~ fCNRANK. r. A., 2020 NORTM[AiT I63~D iTR[ET, NORTN MIAMI BEAGH, RLORlDA 9J162 , _ _ _ _ _ _ . - ~W ~ r~ : ~ _