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HomeMy WebLinkAbout0806 iuaprovements or personal property by f ire, windatora or any other casualty, whether-or not the casualty causing the daimage be insured against, and whether or not, if insured, any proceede are paid there- for, Lessee shall at its expense repair and reconatruct any and all ' improvements ao damaged to restore the same to the original condit- ion. If a loss occurs for which inaurance will be payable, and as often as such insurance money ahall be paid to Leesor and the Lessee, said sums so paid shall be deposited in a joint account of the Lessor and the Lessee in a bank designated by the Lessor and shall be available to Lessee for the reconstruction, repair or re- placement, as the case may be, of any of the said buildings, i.m- provements or personal property damaged or destroyed by f ire, wind- storm or other casualty for which insurance money ahall be payable and shall be, by the Lessor and the Lessee, paid out from said joint account from time to time on the estimates of an architect licensed as such in the State of Florida and having supervision of such can- ~ ~ ~ ~truction and repair, certifying that the amount of such estimate € ~ is being applied to the payment of the reconstruction, repair or ~ ~ replacement and at a reasonable cost therefor. Provided, however, ~ ~ that it shall be the ~3uty of the Lessee, at the time of creating ~ such joint bank accour~t, and fram time to titae thereafter. until the ~ ~ sai~ w~rk of reconstruction or repair shall have been cv~apleted and ~ paid for, to afford the Lessor adequate evidence of the fact that y at all ti.mes the undisbursed portion of the fund in said joint bank ~ ~ ~ account is suff icient to pay far su~h reconstruction, repair or re- ~ placement in its entirety; and if the said fund is at any time in- ~ ~ ~ suff icient to pay for the full cost of the job, the Lessee shall j ~ ~ o R ~i91 iSi~ ~ ~i92 ~4 -~z- ~ . - . _ _ ~ ~ ; s ~ ~ s ~x~ ~ ~ ' ~ , _L . ~ ~ _ .