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<br />Resolution, alt of the insurance proceeds shall be paid to Lessee, <br />which shall proceed to repair, restore, rebuild or replace the <br />damaged or destroyed facility as required in Sections 12.1 and <br />12.2 hereof. If the proceeds of such insurance are insufficient <br />for such purpose, Lessee agrees to prouide other funds sufficient <br />to complete the work (or cause such funds tc be pro~rided) or shall <br />agree to accept and continue leasing the Froject hereunder after <br />it has been repaired, rebuilt and rearranged to the extent permit- <br />ted from insurance proceeds. <br />Section 12.4 If a*_ any time during the life of this <br />Agreement, the Project, as then constituted, is totally destroyed <br />by fire or other casualty, Lessee and Region ITZ may elect that <br />the Project shall not be rebuilt, grovided that there are sufficient <br />moneys in the hands of the .Trustee, including insurance proceeds, to <br />pay in full the principal, premium, if arty, and interest on all <br />Bonds outstanding. Destruction or•damage which in Lessee's and <br />Region III's judgment renders the Project unusable or substantially <br />impairs the efficient usage of the Project by Lessee and F.egion IZI <br />concurred in by the Authority (which concurrence shall not be <br />unreasonably withheld) shall be deemed the total destruction of <br />the Project. If such election not to rebuild shall be made by <br />Lessee and Region III, this Agreement shall thereupon terminate, <br />except that Lessee's option to purchase the Project under Article <br />XVI hereof shall continue in effect and may be exercised for a <br />period of two (2) years after such termination. <br />-28- <br />