HomeMy WebLinkAbout2075 of the Lessor and the Lessee as t}~eir respective interests may
appear, and shall be subject to such provisions as mortgagees o£
the Demised Premises may require.
13. Reconst~etion and Repair. Upon the occurrence of any damage
or total or partial destruction of any portion of the Demised Pr~nises,
whether or not the casualty causing such damage be insured against, and
whether or not, if insured, any proceeds are paid in connection there-
with, the following provisions shall apply:
a. Lease to continue. The destruction, alteration, demolition
or non-use or other~deterioration in condition of the Demi.sed
Premises or any portion thereof, regardless of the nature thereof
or events which cause such destruction, alteration, demolition or
non-use, except taking by eminent domain, shall not in any way
reduce, abate or suspend the Lessee's obligations and covenants
hereunder nor shall the same effect a termination in whole or in part
of this Lease.
b. Reconstruction and Repair by Lessee. The Lessee, at its
expense, shall repair and reconstruct, if necessary, any and ali .
improvements, buildings and structures damaged, and shall replace
or repair all personal property damaged~ so as to restore the
same into good condition. For the purpose of this paragraph, as
well as when used elsewhere in this Agre~nent, "good conditiont' shall
mean the ~iest condition in which it is reasonably possible to re-
place the real or personal property involved. Work necessary to
accomplish the replacing or repair of any damaged or destroyed
improvements or personal property shall be commenced not later than
sixty (60) days after the occurrence of damage, and shall be completed
no later than ten (10) months after date of conunencement, provided,
however, these time limitations shall be extended by reason of any
time lost due to an Act of God, war, civil insurrection, strikes
; or other events over which the Lessee has no control.
~ c. Plans, S ecifications and Estimates. Within thirty (30) days
E after the occurrence of daanage requiring replacement or repair of
improvements to the Demised Premises, wherein such replacement
( or repair requires the issuance of a building or other permit by and
E pursuant to the ordinances of a governmental authority, the Lessee
° shall supply to the Lessor plans and specifications for such reconstruc- _
~ tion and repair. Said plans and specifications shall be prepared
; by and be under the certificate of an architect licensed to practice
z in the State of Florida. Within thirty (30) days thereafter the
; Lessee shall furnish to the Lessor a copy of a contract executed
% by an independent, licensed, general contractor wherein the work,
labor and materials indieated by such plans and specifications are
~ to be furnished at an agreed price and a performance, completion
~ anct payment bond is provided ior. .
:
~ d. Proceeds of Insurance.
; (1) Fund. In the event proceeds of in surance shall be
= payable by reason of damage and/or total or partial destruction
of the Demised Premises, or any portion thereof, and as often as
; such insurance proceeds shall be payable, the same shall be paid
g to the Lessor, and said sums so paid shall be deposited in a special
= account of the Lessor in a bank in St. Lucie County, Florida, and
such sums shall be available to the Lessee for the purpose of :
= reconstruction and repair pursuant to the provisions of this para-
graph. Such monies shall be paid out of said special account from
time to time by the Lessor upon the certificate of~the Lessee or _
~ of the contractor who has contracted for the performance of such
reconstruction and repair, certifying that the amoimt of the payment
is being applied to the payment of obligations incurred for such ;
reconstruction an d repair, provided, however, the Lessor shall ~
_ _
:Y ~ 2073
- - BaOK VAGE ;
.
~
~
~
-
~ _ ~ _ . _ . . . _ . . _ _L~