HomeMy WebLinkAbout1524 able to it be in default in the payment of any of ita obligationa pro-
vided for herein, the Lessor shall hava the right to apply such proceeds
agafnat all existitlg defaults to the eatent available or necessary to
cure su~h dePaults. _
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15. Eminent Domain.
- a. As to Demised Premisea.
(1) Total Taki . If during the ter~a of this Leaae
thg entire e se remiaes shall be ta~aen as a result of
the eaercise of the po~?er af eininent domain, herein called
"proceeding", this Lease and all right, title and interest ~
of the Lessee hereunder shall aease and come to an erxi on
the date of the vest3ng of title pursuant to such proceed-
ing and the Leasor shall be entitled to and shall receive
the total aKard made in such proceeding and the I.~essee here-
by absolutely assigns such award to the Lessor.
(2) Partiai T~a~k~~~in~ . IP during the term of this Lease
less than en~
r'3~ised Premises shall be taken in ar~y
such proceeding, this Lease shall terminate as to the part
so tak~en arid the Lessor shall be entitled to ani shall re-
ceive the total award madg in any such proceeding and the
Lessee hereby assigns such a~rard to Lesao~, but the Lessee
in such case covenants and agrees that at Lessee's sole s
-cost and e~cpense (sub~ect to reimbursement as hereinafter t
provided) promptly to restore, rep~ir anci replace those
portions of the buildings on the Demised Premises not so
~ taken to complete architectural units gnd replace build-
ings totally takan for the use,and occupancy of the LeaBee
as in this Lease expresaed. The-Zessor agrees in connec-
tion Kith such restoration to app`ly or cause to be applied
the net amount of any award Por damage to the building or
- buildings on the Demised Premiaes that may be received by
it in any such proceeding toMard the cost of such reator-
ation and replacement (but the amount so ~pplied shall not
inalude the coat oP any alteration, construction, change
or improv~ement the Lessee may desire to- make that its not
necessary to restore that portion of the buildings not so
taken to a complete architectural unit or to replace build-
~ ings totally taken to substantially the same usefulness,
~ design, and construction as imene3lately before such taking,
' it being ur~derstood that no alteration or change in the
basic conf'iguration of the improvement ahall b~ made Mith-
out the appr•oval of the Lessor), and the said net aMard
shall be pa3d out from time to time to the Lessee as such
restoratfon and rep~acement progresaes upon the~Mritten
certiPicate oP the Lesaee or of the contractor Nho has con- ;
tracted for the performance of euch restoration and replace- `
ment, all in the same manner, and sub~ect to the same pro-
visions, as set forth for disbursal of funds Por reconatruc-
tion and repair in paragraph 13 d. (1) hereoP.
(3) If payment of the net award as aforesaid shall ;
, not be received by Lessor in time to permit payments as ;
- the work of reatoration and replacement progresses, the Les- _
see shall,. nevertheless, perform and ft~lly pay for such ~
work r+ithout delaq (eacept Por unavoidable delapa over Mhich
the Lesaee has no control) and payment of the amount to
Nhich I~sntc ~c~titled ahall thereafter be made by Les-
sor out of said net aMard aa and Mhen gayment of auch net
award ia received by Lesaor. If the funde to be applied by
Leasor be inaufricient to pay ~he entire cost of auc~ restor-
~ ation, the Lesaee agreea to pay any deficiency and to depos-
it the amount of auch dePiciency, as eatimated by the archi-
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LAW OFFICES OF GOLDSTEIN. FRANKLIN. CHON~N Q SCHRANK, P. A.. 2020 NORTHEAST 163no STREET. NORTH MIAMI BEACH. FLORIDA 33162 !
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