HomeMy WebLinkAbout1541 all ~r~pro~~e::~rits, bt~ildin~;s and si-rucL-ur.:~ d~in~~;ed, an_i s1~1~:1 re-
' place or re~air ~ 11 »ei•son~l property dar~~~:~;ed ~o as to :~estc;r~,
the sGn;e inta ~.ooci coi~aition. For the purposes of i.l,j.s par; ~;r~:z~lz,
as 1•:cll as ~~,~1~11 used e.lce~•~.~er~ in th~s ~~reetn~nt, "good coi:~ii.ttor," `
sha11 ~nean the b~st; co~:d3tion in which it; is i°easoi~ably pos~~bl.e
to replace tt~~ r~al ar pcrson~l pro~~erty invol.ved. tilorlc n~~ces-
sary to acom~lish t}ie replacln~ or repair of any danL~~ed or dc-
stro5?~e~ ir,ipY•over,.~nt;s or personal propei•ty sllall b~ coi:.r.:~need not
later than sixty (60) days afLer the occurrence of d2cr.~~e, aiY3
shall be completed no l~.te?~ than tei~ (10) months aft;er date of
commencement, provided, ho?•:ever, tlisse time lir~iLations shall Ue
extended byr reason of any tin~e lost due to an Act of God, z~:ar, _
civil insux~r•ection, stril;es or other events over which th~~ I,eJsee
has no contrel.
c. Plans, Sp~cifications arr3 Estim~tes. ldithin thirty (30)
days after occtirrence' o~'~"Ic 'ai :age requ3r~~g replaeem~nt or re»
pair of improver,.~31ts to the D;;mised Prer?iises, wherein such r-eplace-
ment or repair requires the issuance of n buildir~ or oth°r perr~it.
by and pursuant to the ordinances of a governr,:°_ntal authority, th~
Lessee shall supply to the Lessor plans and specifications for such
reconstruction and repair. Said plans and specifications shall be
prepared by a.nd Ue ur.der the certificate of an architect licensed
to practice in th2 StaLe of Florida. «ithin thir~y (30) days therc-
after the Lessee sha~l furnish to the Lessor a copy of a contract
executed by nn 3ndep~nden~, licensed, ~eneral contractor vrherein
the i•~ork, 11Uor and rnaLerials in3icuted by such p.lans and specifi-
cations are t;o bcs furnist~cd a~ an a~reed price arxt a perforrr~ance,
completion anci payment bond is provided for. .
d. Proceeds of Insurance.
i -
(1) _T~~nd. In the evant proceeds oi' insurance sha11
be payaUle y
reaso~l of ctazrc-~ge and/or total or partial
destruction of the Demi~ed Prernises, or any portion thcrc--
of, and as often as such insur~nce proceeds shall b~ pay-
able, the sa~n~~ shall be paid to the Lessor, anr3 said st:ms
s~ paid ~}~all be depos:Lted in a special account of t}ie Les-
; sor in a b~nli iti St. Lucie CounLy, Florida, an3 such sut::~
sha11 be a~alZable to tll~ Lessee for the pui~ose of recon-
s structi~n and rep~tir pizi°suanL to the provislons of~ this
f paragra~~h. Svc~i munies sh~Zl Ue paid out of said sp~•cj.~ 1
~ account frorn time to titr.~ by t1~e IPSSOr unon th° certif
~ cate of the Lessec or of the contractor who has cc~r~i;ractid
for the perfor~r~nce of such reconstruction art:l re~ai.r, cer-
~ tifyin~ that ttie amouiit of the payr:tent is bcin~; a~plic:d to
s the p~3y~nent oi' oU L3.~ai;ioi~s incurre3 for sucl~ recor~struct9_on
~ and re air rovidcd ho~,~ever tl~e Lessor shall have t.l.~~
~ P` , ~ , s
ri~h~ to m=?.l:e ~uc}i p~ty?~;e.~t cliY'eC~ly to the sub-cont;~~ac ~~r
oi~ matf:rj~l_n~an t.o whom sur;~ of money may be due ar~1 01•Ii_il~;
_ from ~irr:~~ ta time, as rei'l.ected in such certti'icate, ~1~,~
s; provided, further, that Lhe Lessor shall have tih° rf~h'•:, to
requir•e the I.essee at the tirr~ of contractii-,
; for or ui~:3cr•-
takin~ sucl. r•epair• or r~construc ~ion, an3 /or at St1G~l a.ci~ i-
~ tion~l tirr~ thereafter a~ may be appropriat•e, Lo ~rovicie
evider:ce satisfac~ory t.~ the I,essor th3t aL all tirr:~s th~
_ unclisLursed portion oi"' stich furr~i ~n said bank acco:ln~ 3s
` sufficient Lo p3y for t}.e reconstruction anc~ r~pa~r in ~s
entireLy, an:] if' a't any ~it?:~ ii; sliou7u. reasonaUly apL~~~t^
: to tne Less~r that; : aid f. un:is vrill re insui f? cie~lt; to ~.~y
t~~e full cost of said re~air and rec~nst;ruc~ion, the L~s--
se~ t•:i~] im::~dia:;~i.y ~~.nr', fort},i~.ith dep~sft :iiito s,~id it?%,~l
such ~:cldit ior~~ 1 inc~ni es as m~ST ~e reasoi,abJ ~r reccs~~.i•y to
= pay ~vcti ful.l co;t~ , tT~~o:~ Lhe co ~:pletion oi thc satd r~-
cons4i,rL?Ci•~011 a.r.d/oi~ re~~.ir, and t.pon the Lessor h~_vir~.,;
been provicic:ci tYit.h r•eeelp~ed bi7.1s ~ txi fu17. and fznal ~:~.i
~ ers oi' lien ~.s to a?_1 1~Urk pYrfar~;.~d arz~ ~:ateri ct?. s~t~ ~ c:.:, ;
,
~j ~ny r.'UfijC~ r•e"~~i:~in;~ in saicl sr~ctal accounL sY:~ll b~~ ~:_~i:; ~
over an i disburs~l u;~ L};e j,f'.~SUI• to th:~ In ~
_ ~
' (2) In 2.21~,t J~:~.:ar.~:e ti~~~:^r~ tliA ~?roceeds o° in,>»r:.r,^c:
- for d^r,~t~•e or dL::t:r•vcti~_~:1 s1~3.1~ be l.e~s tl~~n ~~`~,UG:).CC? i'~-~,~
r•~::~sc~n t;}~ :t -i t~-•~__~..:c::~~:,.~,-, ap~~e~r., th^.t t}~:~ cos~ of ~~.~t~_:.__;
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