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Lessee shall maintain in force fire, casualty and extended coverage
insurance, naming Lessor as insured, insuring the demised structures.
Lessee shall be responsible for the insuring of its furniture,
furnishings, equipment, leasehold improvements, or other personal
property against damage due to fire, water or other hazard, and the
Lessor shall in no waq be held responsible for such damage.
9. DBSTRUCTION OR DAMAGE TO PREMISES. It is mutually agreed
in consideration of the rent to be paid and the other conditions of
this Lease, that Lessee shall not be held responsible by Lessor for
damage to the demised premises or any part thereof due to fire or
other hazard. In the event the leased premises shall be partially
damaged by fire or other hazard, the Lessee shall have the right to
repair same. The rent shall not be apportioned or abated during the
time the demised premises are unusable by the Lessee. If the leased
premises are totally damaged or rendered wholly untenantable by fire
or other causes, or if -the -building shall be so_ damaged. that_ Lessor
shall decide~to demolish it or not to repair it, Lessor and Lessee
shall have the option to terminate this Lease by giving ten (10) days
notice in writing to the other party, and the insurance proceeds shall
be paid to Lessor. Such notice may be given only within thirty (30)
days of the date of such damage. In the event the parties elect to
rebuild the demised premises after such .total damage and not to
terminate this Lease, then during such period of construction, there
shall be no abatement of rent. Such notice shall be given thirty (30)
days in advance.
10. CONDEMNATION. If the whole of the premises hereby demised
shall be taken or condemned by any competent authority for any public
use or ,purpose, then the term hereby granted shall cease on the day
prior to the vesting of title in such authority and rent hereunder
• shall be paid and adjusted as of that day.
If a portion of said demised premises equal to at least
one-third (1/3} thereof shall be taken and, as a result thereof,
there shall be such a major change in the character of the premises
as to prevent Lessee from using the same in substantially the same
Initialed y Lessors Initials by Lessees
on ~ ~f/ 1979. on 1979.
~ 1~1
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