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08/07/2018
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08/07/2018
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14. Total Destruction of Premises by Casualty. It is mutually covenanted and agreed <br /> that if, during the term of this Commercial Lease Agreement, the Leased Premises, or any <br /> portion thereof, is damaged by fire or other casualty to such an extent as to render the Leased <br /> Premises wholly unfit for occupancy, or if said Leased Premises are so seriously damaged by fire <br /> or other casualty that it shall be impractical or uneconomical to rebuild the building, then, and in <br /> that event, either the Lessee or the Lessor may cancel this Commercial Lease Agreement by <br /> giving notice in writing to the other party by certified mail, such notice to be sent no later than <br /> thirty (30) days after the damage to said building shall have occurred, whereupon the giving of <br /> said notice to the other party, this Commercial Lease Agreement shall terminate and all rights <br /> and obligations of the Lessor and the Lessee hereunder shall cease. <br /> 15. Partial Destruction of Premises by Casualty. In the event that the Leased <br /> Premises should be partially damaged by fire or other unavoidable casualty, but not to such an <br /> extent as to make it impractical or uneconomical to completely rebuild or reconstruct, then and in <br /> that event, it shall be the duty of the Lessor to IMMEDIATELY commence the work of repairing <br /> the Leased Premises, restoring the said building and the Leased Premises to a condition equally <br /> desirable as that before its destruction by fire or other casualty. Provided, however, that <br /> throughout the period during which the Leased Premises are wholly or partially untenantable by <br /> reason of fire or other casualty,there shall be an abatement of rent in proportion to the portion of <br /> the Leased Premises rendered untenantable for the purpose of the Lessee's business during the <br /> period of time which such repairs or reconstruction are in process, and provided further, that in <br /> the event of damage to the Leased Premises by fire and other casualty, any portion of rent paid in <br /> advance by the Lessee to the Lessor, and not earned by reason of the Lessee's occupancy, shall <br /> be refunded to the Lessee by the Lessor immediately upon the happening of any fire or other <br /> casualty which shall prevent the Lessee from using the said Leased Premises in the conduct of <br /> Lessee's business. <br /> 16. Alterations Required by Law. In the event that any governmental organization, <br /> bureau or agency through laws, ordinances, regulations, codes or other enactments or directives <br /> shall require changes, alterations, improvements or repairs to the Leased Premises which require <br /> the expenditure of additional sums of money, such changes, alterations, improvements or repairs <br /> shall be accomplished entirely at the expense of the Lessee. <br /> 17. Waiver of Subrogation Rights. It is agreed that if the Leased Premises shall be <br /> destroyed in whole or in part by any cause or causes covered by standard fire and extended <br /> coverage insurance forms, the Lessee shall not be liable for or responsible to Lessor or any <br /> insurer or insurers of Lessor and the Lessor shall not be liable for or responsible to Lessee or any <br /> insurer or insurers of the Lessee for and in respect of any such damage or destruction, and the <br /> Lessor hereby specifically waives any and all rights of subrogation which the insurer or insurers <br /> may have against the Lessee for such losses, damages or destruction, and the Lessee hereby <br /> specifically waives any and all right of subrogation which the insurer or insurers may have <br /> against the Lessor for such losses, damages or destruction, all notwithstanding the fact that the <br /> same is caused in whole or in part by the neglect of the Lessee or any of the Lessee's officers, <br /> agents, employees, invitees or otherwise or by the neglect or negligence of the Lessor or any of <br /> the Lessor's officers, agents, employees, invitees or otherwise. It is further understood and agreed <br /> that in the event that this Section should render any insurance coverage null and void, this <br /> 4 <br />
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