HomeMy WebLinkAbout2077 pursuant to such praceeding and tl~e Lessor sl~all be entitled to and
shall receive the tofial award made in such proceeding and t}~e Lessee
hereby absolutely assigns such award to the Lessor.
(2) Partial Taking. If during the tenn of this Lease less than
the entire D~nised Premises shall be taken in any such proceeding,
this lease shal~ terminate as to the part so taken and the Lessor
shall be entitled to and shall receive the total award made in any
such proceeding and the Lessee hereby assigns such award to Lessor,
but the Lessee in such case covenants and agrees that at Lessee'~
sole cost and expense (subject to reimbursement as hereinafter
provided) promptly to restore, repair and replace those portions
of the buildings on the Demised Premises not so taken to complete
architectural units and replace buildingstotally taken for the use
and occupancy of the Lessee as in this Lease expressed. The Lessor
agrees in connection with such restoration to apply or cause to be
applied the net amount of any award for damage to the building or
buildings on the Demised Premises that may be received by it in
any such proceeding toward the cost of such restoration and replace-
f inent (but the amount so applied shall not include the cost of any
alteration, constructiu~i, enang~ a~ ~.mprovement the Lessee may desire
to make that its not necessary to restore that portion of the -
buildings~,n ot~ so taken to a complete architectural unit or to re-
place buildings totally taken to substantially the same usefulness,
design, and construction as immediately before such taking, it being
understood that no alteration or change in the basic configuration uF
the improvement shall be made without the approval of the Lessor), :
and the said net award shall be paid out from time to time to the :
Lessee as such restoration and replacement progresses upon the
written certificate of the Lessee or of the contractor who has
contracted for the perfonnance of such restoration and. replacement,
all in the same manner, and subject to the same provisions, as set
forth for disbursal of funds for reconstruction and repair in =
~ paragraph 13 d(1) hereof. i
° (3) If payment of the net award as aforesaid shall not be
~ received by Lessor in time to peYmit payments as the work of ~
~ restoration and replacement progresses, the Lessee shall, neverthe- :
; less, perform and fully pay for such work without delay (except i
~ for unavoidable delays over which the Lessee has no control) and ;
navment of the amount to which Lessee may be entitled shall there-
; after be made by Lessor out of said net award as and when payment
; of such net award is received by Lessor. If the funds to be applied
~ by Lessor be.i.nsufficient to pay the enfiire cost of such restoration,
; the Lessee agrees to pay any deficiency and to deposit the amount
; of such deficiency, as estimated by the architect or contai.ned in a
; contract with Lessor to perform such work, prior to the work being
~ performed.
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~ (4) From and after the date of vesting of title in such
~ proceeding, a just proportion of the rent, according to the nature
~ and extent of such taking, shall abatc the remainder of the term
~ of this Lease.
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~ (5) If after making the payments provided for i.n Paragraph ;
t 15 a(2) there remains any balance in Lessor's hands, it shall be -
retained by Lessor as its property. `
i
~ (6) A Taking of Less than Fee Simple Title. If all or any of F
the Demised Premises shall be taken by exercise of the right of ~
eminent domai.n for governmental occupancy for a limited period, this ~
Lease shall not te Mninate and the Lessee shall continue to perform
~ and observe all of its covenants as thaugh such taking had not =
occurred. In the event of such a taking the Lessee shall be entitled ;
~ to receive the entire amount of any award made for such taking
(whether paid by way of damage, rent or otherwise), unless the ~
~ 3.
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_ 11 _ BooK 237 PACE 2075
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