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Home My WebLink About1903 . , ~ • . t Lease ~o con~inue. Tho destruction, Kltera~ion, de::ti - olition or non-usc or o~ cr deter~~oration in corr3ltion cP tr.E ~ Dernised Prem3ses or any portion thereof, r~~ardle~s oP the r.~- , ture thereof or ovenL-s which cause such destruction, altcrat:ian, demolition or non-use, except takin; by eminen~ dor.~ain, shall ' riot in any way reduce, abate or suspettid the I.essee ~ s obligations ; • and covon2.nts hereunder nor sha? 1 the sarr~e effect a terznination : in whole or in part oF this Lease. _ 1 . ~ b. Reconstruction and Repair by Lessee. The Lesse~,at its expense, s a repa r an recons ruc , ~ necessary, ar~ arxl ~ all improvements, buildirk;s and structures darra~ed, and sr.all re- place or repair all personal property dama~ed so as to restore the sama into good condition. For the purposes of this varagraph, as well as when used elsewhere in this ~reement, "good condi~~an" shall mean the best condition in which it is reasonably possible to replace the real or personal property involved. Worit neces- sary to accomplish the replacing or repair of any dama.ged or de- stroyed improvements or personal property shall be co:a,^~enced not . later than sixty (60) days after ~he occurrence of dar.iaoe, and ' shall be completed no later than ten (10) months a~ter date o~ congnencement, provided, however, these time limi~ations shall be extended by reason of any time lost due to an Act of God, war, civil insurre~ction, strikes or other even~s over which the Lessee has no control. . c. Plans, Speciiica~ions and Estimates. With#.n thirty (30} days after e occurrence o nar~age requir ng replacemant or re- . . pair of improvements to the Demised Premises, wr.erein such replace- ment or repair requires the issuance of a builciing or o~.her per:nit ~ by and pursuant to tne ordinances of a governmental aut'r.ority, the ~ Lessee shall supply to the Lessor olans and specifications for such reconstruction and repair. Said plans and specifications sha?l be prepared by and be under the certificate of an architect licensea - to practice in the State of Florida. Within thirty (30} ciays tnez~e- ~ after the Lessee shall ~urnish to the Lessor a copy of a ccntract . executed by an independEnt; licensed, general contractor w'r~rein ~ ~ the work, labor and materials indicated by such plans and speci~i- cations are to be furnished at an agreed price and a performance, F completion and payment bond is provided Por. I . I d. Proceeds of Insurance. ~ (1) Fund. In the event proceeds of insurance shall ~ be pay~ble-"6y reason of damage and/or total or partial ~ destruetion of the Demised Pre:nises, or any vortion tne~e- of, and as of~en as such insurance proceeds shsll be pay- E ~ able, the same shall be paid to the i,essor, an+d said sums. so paid shall be deposited in a special account o~ the i.es- . sor in a bank in St. Lucie County, ~lorida, and sucn sums ~ shall be available to the_Lessee for the purpose oi recon- struction and repair pursuant to ~he provisions of t'r.is ~ paragraph. Such monies shall be paid out of said s~ecial _ . account from tirre to ti~:~e oy ~he. Lessor u~oon the cer~ifi- cate of the Lessee or o£ the contractor t,rno has contrac ~ed for ~r.e perPormance oP such reconstruction and r~pair, ce~- tifying that the amount of ~ne paymeni. is bexr.g anul~ed to ~ tr~e payrr~ent of obli~ations incurred for such reco~s ~ruction and renair, provided, however, ~he i,essor shai~ ~.ave ~r,e ~ ' rig'r.t to make such payraent directl,y to the sub-cor.~ractor ~ or materialraan to whom su.-r.s of r.~ar.ey ;~.ay 'oe duz ara oc~*~.:~; ~ ~ror, ~~me ~o tir,:e, as reF~ected _n suc'r, cer~~ficate, arxi ~ ~ provided ~urtner, that the Lessor s'r.ali nave ~::e r=g::t to ~ ~ reo.uire the Lessee at the ti~~~ o~ contract~r,g ;or or under- taki n~ such repair or reconstructi or., a::ci/o~ at suc:~ addi- tional tirr,e tibereafter as r+.ay be 2ppropria~e, to ~rcvide _ evicier.ce satisfac~ory to tY.e Lessor t:~z ~t al~ ti: ~zs ~he ur.disbursed aortion of suc; ~und in saici bank account is sufficient to pay fbr the :~construc ~ior. and rzpair ~n its er,tirety, and if at any ti~r~e it sa~ould reasonably ap~eaz~ to the Lessor that said funds will 'oe insuuf~icient to pay - 9- d00K ~~O PACf LAW OFFlGES OF GOLDSTEtN, FRANKLIN, GHONIN A ~CMRANK. P. A., 2020 NOR7HEASi 163l10 STREE7. NOR71i 6t1AN.1 SEACFi. FLOn;~A 33102 ~ ~ ~ • - ~~s~-~,-,°"~'~ ~ ~ = ~r - :s-~~~.. > - _ -x~- . . - _ _ _....~:c;?=_= . . _