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HomeMy WebLinkAboutScan_1222 22 polioie8 oovering said insuranoe 8hall from time to time, a' i08ued, be aepoeited ~ith sald fruotee, it being under,tood, however, that all a~ounts oolleoted OD 807 8uoh polloles ahal ~- be available to the leosees for the400notruotion or repair, ao the oa~e ~ be, of any 8uoh bullcUog or bulldill8s, f111:ture. fiDd lmproveJ:Mtnt8 lDJured or destroyed by tire. and ahall be paid out by the oaid Truetee from time to tiBe, as the wrok of re-buildiD8, reoonstruotion or repair ohall progro08, on bona fide arohitect'a oertlfioate8 or builder'a e8tlmatee, ahowing the applioatlun of the amount paid to ouoh re~ir or reoonatruotion. ~ROVIDED, however, that it first be made to appear to the eatiofaotion of the trustee that an.J amount neoeoeary to provide for the reoonstruotionof any buildings, fixturee or improvemente 80 deetroyed or injured, aooording to thAt plaDS therefor whim Dla7 be io exoee8 of the amount reoeived upon ouch polioies, has bee n provided by tM leoseee for suob purpose, and i t8 ap-: pliC8.tioD to such purpose assured. In oase a~ queetion shall ariee under thlB paragraph lt shall be settled by arbitration ae set forth on page 8 of thie lea8j. In oaee there shall be at any time any 811:088a remaining with the ~ru8tee fro. suoh colleotlon, after the repair or reconstruotion of any suoh bulldinea, fixture8 or improvelll8nts to a oondition equal to or better than t.he former condltlon tbareof, or the oondition in whioh the oame would have been at the time of the destruction thereof, then, 1f there at that time be DO defSll t on the part of the 180seeo in their )lerforllBnoe of the covenaDto and oonditione he~- in, any such amount shall be by th8 truotee p1d to the 16s88e8; and in OO8e of the leeseet not entering upon ths reconstruotion or :repair of eaid buildings, fixtures or Improv811l8nte I wi thin B period of four monthe after sU:lh destrw t ion or inJuJ'1 by fire, a as thereafter d iU-- I gently and oontlDuoue17 prooeoutlIlg same to oompletion within a reasonable tirL8 after the i damage or lose oocure, then the amount so oolleoted, or aIG' portion thereof reuaiDing 111 I the banda of tbe trustee, as afore8a id, ahall be retained by the trustee ae oeouri t;y to th l8aeol'W for the contiDued performanoe and observance by the leseeeo of the covenants 8.i:l4 oondi t10ns herein oontained; upon it so deY..:>lving no plrt thereof shall be paid to thl leesees except after the complete reotorat ion of the bUildings, ft1l:tures or improvements b. the leeoeeo, during the oontinuanoe of th1e l008e; and 1t shall be at the option of the le080rs in suoh caoe to termilUite this loos8 and to deDBm of and rece lYe 'from the tl"Jl8tee all moneys oollected by said tru8tee ae aforesa1d, and retain suoh alOOunt as liquidated damges resultlD8 to the leseore frOOl fa 11ure upon behalf of the 18se880 to proper17 and within a reasonable time oomplece such work of reconatruotioD, alterat10n or repair. PROVIDED HOWXVER, tba t in the event the leaeees herein oannot ber1D the erect ion of a bUilding in aocordance with the terma and oond1t10no hereof within four months after the destruction by fire of th8 bulldinga then situated UpOD sald premise., then and in suo event, the le08eso ahall have the privilege of giving a bond in a reeponeible surety oom- Jl8D7 authorized to do businees in the State of Florida. or a personal bond eatIefaotory to the le0801'8, 1n a sum equal to ei~teen months rental computed from tbe date of said Bond conditioned that the said le8se"e will begin the wom ot erecting said building within one year from the date of the giT1ng of said bond, and w111 diligent17 and continuously pro- I ..cute said "ark or reoonstruoting oa1d building to cou:pletlon wltbin a reallonable time j froll the date of beginning suoh wo rk, and that the lea.eea .Ul "ell and truly perform and comp17 with all the terlll8 and cond i tlone of said leaee dur 1ng said twelve !JIOnthe period, i whiob ennt the time for tho beginning of suoh build iag shall be en'Dded for a period of one year tram tbe date of giTing of e8 id bond. Said bond wst be executed and delivere" to the lessore, bowever. wi tb1Jl four month. from the t 1me 0 f tbe deetru at l.On of thl bu1ld- . ing or buildings by fire. .:~;~~~~:.'~'~~.~:-:~~~. D! I a .) ) q .] ~ :~ , "--,. '.' ~ t-:~i~~~~~~~~.7- :.:.}~~.f.' _ '. >;:.,. /~ ~~'~c.., : .:..;.~.