200909920 - Laserfiche WebLink

Browse

200909920 taken; or (4) if a part only of the leased premises shall be so condemned and Lessee or its sublessee cannot reasonably, efficiently and economically operate in the remainder of the business being conducted on the leased premises at the time of any such taking. If, during the term of this Lease, title to less than the whole ar substantially all of the leased premises or parking area shall be taken in any condemnation proceeding and Lessee or its sublessee can reasonably, efficiently and economically operate in the remainder of the leased premises, and use the remaining parking, the business conducted on the leased premises at the time of such taking, then: (a) this Lease shall terminate as to the part so taken; (b) the rent payable hereunder shall be adjusted so that Lessee be required to pay for the remainder of the term only such portion of such rent as the value of any part remaining after the condemnation bears to the value of the entire leased premises at the date of vesting of title in the condemnor; (c) Lessor shall, at Lessor's cost and expense, make all necessary repairs and alterations to the building and other improvements on the leased premises to restore the same to an architectural unit as nearly like their condition prior to such taking as shall be practicable; and (d) there shall be an abatement of rent during such restoration to the extent not otherwise provided herein. 17. Surrender at End of Term. At the expiration of the Lease term, the Tenant shall surrender the Leased Premises in as good condition as they were in at the beginning of the term. 18. Alterations Required by Law. In the event that any governmental organization, bureau or agency through laws, ordinances, regulations, codes or other enactments or directives shall require changes, alterations, improvements or repairs to the leased premises which require the expenditure of additional sums of money, such changes, alterations, improvements or repairs shall be accomplished entirely at the expense of the Lessee. 19. Waiver of_Subrogation Rights. It is agreed that if the leased premises shall be destroyed in whole or in part by any cause or causes covered by standard fire and extended coverage insurance farms, the Lessee shall not be liable for ar responsible to Lasser or any insurer or insurers of Lessor and the Lessor shall not be liable for or responsible to Lessee or any insurer or insurers of the Lessee for and in respect of any such damage or destruction, and the Lessor hereby specifiically waives any and all rights of subrogation which the insurer or insurers may have against the Lessee for such losses, damages or destruction, and the Lessee hereby specifically waives any and all right of subrogation which the insurer or insurers may have against the Lessor for such losses, damages or destruction, all notwithstanding the fact that the same is caused in whole or in part by the neglect of the Lessee or any of the Lessee's officers, agents, employees, invitees or otherwise or by the neglect or negligence of the Lessor or any of the Lessor's officers, agents, employees, invitees or otherwise. It is further understood and agreed that in the event that this Section should render any insurance coverage null and void, this Section shall became ineffective as between the parties hereto. 20. Notices. Whenever in this Lease Agreement notice is to be given to the Lessee by the Lessor or to the Lessor by the Lessee, such notice shall be by certitaed mail directed to the Lessee at 3341 West State Street, Suite D, Grand Island, Nebraska 68803, or the Lessor at 3421 W. State, Plaza 4, Grand Island, NE 68803, and notice so sent shall be considered as notice to the Lessee ar the Lessor. "I"he mailing of such notices shall be considered as delivered to the other party when such notice is placed in the United States mail.