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79004536
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Last modified
1/13/2010 2:20:11 AM
Creation date
1/13/2010 2:19:23 AM
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DEEDS
Inst Number
79004536
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<br />79-~-U4~36 <br />pm <br />(b) If th35damsge or destruction reftrred to in Section {a) hereof <br />amounts to at least of the leased premises and occurs d~u•ing the last two <br />years of the entire term of this lease or during the last two years prior to any <br />optional termination date under Section (b) of Article 3, then and in such events, <br />both Landlord and Tenant shall each have the right sad option, st the election of <br />either of them, to terminate this lease effective ae of the date of such happening; <br />and anq vaearaed rents paid in advance shall be refunded. Landlord shall not have <br />the right to exercise the option under this Section during any period which shall <br />be lass than twenty°four months and mare than six months prier to any optional <br />termination date wader Section (b) of Article 3 if Tenant shall, within one month <br />after such happening, advise Landlord that Tenant will not exercise Tenant's option <br />wader Section (b) of Article 3 to terminate this lease as of the next optional <br />teaination date thereunder, and, further, landlord shall have the right to exercise <br />the option corder this Section during any period which shall be six months or lees <br />prior to sap optional termination date under Section fb) of Article 3 Delp if Tenant <br />shall have theretofore exercised Tenant`s option under Section {b) of Article 3 to <br />termiaate this least as of the next optional termination date thereunder. If this <br />lease shall sot be so terminated, the building snd gremisea shall be regaired and <br />rtstared as hereinbefore provided. <br />(c) If 5t1% ar mare o£ the total area of all of the buildings in said <br />Shc~ping Center be damaged or destroytd by fire ar other casualty, Tenant shall <br />have the right and option, at Tenant's electiaa, to terminate this cease by <br />-~~--.• - r;~ =f*_er rhr.. tenths from the Batt of such hap- <br />ppL1Ce tv L6IR every „t auy ~- _ <br />peeing; pravlded, however, that if within said three months Landlord shall have <br />co~encad to repair and restore the buildings so damaged or destroyed, and shall <br />thereafter proceed with due diligence and carplete same within sine months, thin <br />and in such events Tenant shall eat have the right to so terminate, If because <br />of such fire or other easualtp, the business described in <br />Se~~ion (a) of Article 8 shall be closed, thin and in such event, and until <br />said busiaeas shalt have reopened in appraaimately the same location and <br />with approxiaatelp the ssse area Yeaaai may close its store without liability <br />far the pay'ent of any seats during such period; but if Tenant does not close its <br />store, than for and during such period the rents wader Article 2 shall be awpeadad <br />and the mly real to be paid by Yenaat shall be a sum egwel to - - <br />Z§ i of the monthly cash receipts of sales, as <br />defined itt Section (b) of Article ?, up to and including <br />s1~7,boo.oe, <br />plus 2X of the monttaiy cash receipts of sales as defined in <br />Section {b? o£ Article Z in excess of $17'+,b~D DO <br />ptyabla an or before the 30 th of the nezt aueeeediag swath; sale to ba pra- <br />portlooatsly adjusted as to tap such rent foz lass than a full calendar swath, <br />Ij~- 17, Landlord may at reasonable tiles enter the leased prasnlaea for the <br />lord's piagoaa cf sxainisg and of mating repairs, aad during the last two sonihs of <br />tight the tea asp place usual "Far trttt" •i~t, but not sa as to interfere with Tenant's <br />lc In- bwsinesa, <br />speet <br />Surs'eadar 18. At the tzpiratlaa ar terainatiaa of this lease, Yeatat shall surrendtr <br />3aediate posseasiaac of the iwastd presi.aes in as good condition as when delivered <br />to Tssawt, raaamabla wear aad tear, chaagea and alterations, dsmagc by €ire, <br />casualty sad Cha tlesents, and ether repairs which art Landlord's obligation ex- <br />eapted, Atty holdi~ over by Yeast shall not operas*, except by written agree- <br />aarst, to ext~ or rermw this least ar to iapip or create a new lease, but in <br />sash tW Laedlord's rights shall be lisited to either the iamediate termination <br />of Tesaat`s occupancy or the treatscat of Tenant's occuptncp as a south to <br />sr~aisth try, ~ eusttsa or law to the coslzary nctwithataading. Teasel shall <br />repair dass~s ceased by the raasrsa! of Tenant'• fixtures s~ equipseat. <br />-8- <br /> <br />
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