HomeMy WebLinkAbout0759 Lessee covenants that within sixty (60) days of its written
notice to Lessor to terminate this lease, Lessee will level,
clear and remove all debris and construction material,
including foundations, and grade the land on the leased
premises to its natural level with clean fill. No debris- or
materials or foundations will be buried on the premises.
2. In case the buildings are destroyed or dgmaged~by
fire or other unavoidable casualty, Lessee shall use the
proceeds of the insurance which may be payable to rebuild
and restore the buildings to their condition prior to ,the
destruction and if such proceeds are not sufficient to pay_
the entire cost of reconstruction then Lessee shall be
liable for such additional costs; on the other hand, should
the buildings be so destroyed or damaged that Lessee is
entitled to, and does, decide to terminate the Lease then,
in that event, the insurance proceeds shall be applied,
first, to the payment of the balance due on any mortgage
which encumbers the premises and all other insurance monies
will be paid over to Lessor at the termination of the Lease,
as liquidated damages for the destruction or damage to the
buildings.
IX
f TAXES
Lessee shall. be obligated to pay all assessments
and ad valorem taxes assessed on the premises during the
term of this lease and all renewal terms hereof; provided,
further, the ad valorem taxes for the year 1979 shall be
prorated between Lessor and Lessee as of November 1, 1979.
Lessee covenants that it will annually furnish evidence
~ to Lessor of Lessee's payment of said ad valorem taxes.
X
e INSURANCE
Lessee shall maintain, during the entire term of
this lease, at Lessee's expense, insurance in solvent insurance
~ ~~331 p~ 759
-6-
_ w'__.
- - - - -