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In ~ny inst~nc~ ~vt?er~ th~.~ proceeds of insurance
for dam~~ge or destruction siiall be less than ~5,000.00 for
reason th~t it reasonably appears that the cost of repair
or reconstruction shall be le~s than $5~000.00, then the
proceeds of insur3nce sh~ll be pay~ble to the Lassee
dir~ctly~ to be disburscd by it for th~ purpose of paying
. for the reconstruction and re~,air,
(3) Notwithstdndiny ~nything contained herein to the
contrary, the provisions of any inortyage now or hereafter
encumbcring the Uemised Pre~nises relativ~ to insurance and
proceads thereof shall havc: priarity and shall sup~.~rcede
all of the provisions of this Lease. In the event a mort-
gac~te shall have an opti.on to apply insurance proceeds to
the reduction or payment of the mortgage debt and so elects
to apply the same or some portion thereof. the Lessor shall
be reyuired ~rithin 120 days after the application of said
funds by such mortgagee to create from its own funds or
~rom the proceeds of a new mortgage upon the Demised Premises
the amount of monies so a~plied by such mortgage;e, the
said monies to be held by the Lessor in a special fund
pursuant to the provisions of sub-paragraph (1) of this
Article, ~s if the same were the proceeds of insurance. If
a mortc~agee shall elect to submit the application of insurance
proceeds to reconstruction and repair, such mortgagee may
hold such funds and may impose such terms and canditions
relative to requiring the Lessee to supplement such funds
in such amounts as may be necessary to pay for reconstruction
and repair, to disbursements of the same, and to such other
matters relating to suc~~ funds and proceeds as such
~ mortyagae may require.
~ 14. Lessor' s k<i ht to A 1 F~unds Held on Behalf of the Lessee.
~ - If at any time during t e term o this Lease_t e Lessor sha ave in
~ its possession monies otherwise belonging or payable to the Lessee, and
4 ~ the Lessee shall at the time said money or fvnds would otherwise be
~ payable to it be in default in the payment of any of its obligations
provided for herein, the Lessor shall have the right to apply such
~ proceeds against all existing defaults to the extent available or
~ necessary to cure such defaults.
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= 15. Eminent Domain.
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; a. As to Demised Premis~~s.
; (1) T~t~l Takin . Ir duriny the term of this Lease
the entire emise Fre~nises shall be taken as a result of
` the exercise of the power of eminent domain, herein called
€ "proceeding", this ~.ease and all ri~ht, title and interest
6 of the Lessee hereunder shall cedse and come to an end on
the date of the vestirig of title purusant ta such proceeding
~nd the Lessor shall be entitl~d to ~nd shall receive .
; the total ~tivard made in such proceeding and the Lessee
~ hereby absolutely assigns such award to the Lessor.
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(2) I~rtial Taking. If during the term of this Lease
less thdn the ent~re Demised Premises stiall be taken in any
such proceeding, this Lease shall terminate as to the part
! sc taken and the Lessor shall be entitled to and shall }
receive the total award made in any such proceeding and the j
Lessee hereby assigns such award to Lessor, but the Lessee ~
in such case covenants and agrees that at Lessee's sole ~
cost and expense (subject to reimbursement as- hereinafter
provided) prom~,tly to restore, repair and replace those
portions of thg buildings on the Demised Premises not so
taken to complete architectural units and replace
building totally taken for the use and occupancy oF the
Lessee as in this Lease expressed. T'he Lessor agrees in
connection with such restoration to anply or cause to be
eoo~ 22~ Pac~ $~1
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