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201008237
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Last modified
11/5/2010 2:25:34 PM
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11/5/2010 2:25:32 PM
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DEEDS
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201008237
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2oioos23� <br />ARTICLE XI <br />Condemnation <br />11.1 If the leased premises or any portion thereaf are taken under the pawer of eminent <br />domain, or sold under the threat of the exercise of said power (all of whicla are herein called <br />"condemnation"), this Lease with Purchase Option shall remain in full force and effect and <br />Lessee shall be entitled to all praceeds accasioned by such taking which equate to its leasehold <br />interest and Lessor shall be entitled to all remaining proceeds occasioned by such taking. <br />ARTICLE XII <br />Damage or Destru,ction af Buildin During,Lease Term <br />12.1 If the building herein leased to Lessee shall be destroyed or damaged by fire or by <br />the elements, and if such darnage results in a substantial reduction of the usability of the building <br />by Lessee, Lessor and Lessee each shall have the option within ten (10) days af the darnage to <br />terminate this Lease with Purchase Option by mailing written notice to the other. If the Lease <br />with Purchase Option is not so tertninated, Lessor shall repair or rebuild the building. If Lessee <br />cannot reasonably use any of the building, then Lessee shall pay no rent until the leased premises <br />have been restored to their former condition and shall have been fully occupied by Lessee and <br />fully reopened for business, in which event the rz►onthly rental shall accrue from the date of the <br />reopening of business. If, however, Lessee can reasonably use any portion of the building, then a <br />just and proportionate part of the monthly rent shall abate u�atil the leased premises shall have <br />been completely repaired and restored by Lessor, at which time the liability for the payments of <br />all monthly repairs herein stipulated shall again accrue. Such repair or rebuilding shall be done <br />as soon as reasonably possible after such damage occurs. <br />ARTICLE XIII <br />Assi nments or Sublettin <br />13.1 In the event Lessee desires to sublet or assign al1 or any portion of its interest in <br />the building or assign its interest in tlais Lease with Purchase Option, such actions shall not be <br />permitted without Lessor's prior written consent, which consent shall not be unreasonably <br />withheld; provided, however, notwithstanding the foregoing, Lessee may assign its purchas� <br />option to Erin Sullivan and Dena Sullivan, husband and wife, owners of Lessee without <br />limitation or required consent. Such consent shall be deemed to be unreasonably withheld i:Fthe <br />proposed assignee is of such financial standing and responsibility at the tirne of such assignrnent <br />as to give reasonable assurance of the payrnent of all rents and other amounts reserved in this <br />Lease with Purchase Option and compliance with all of the terms, covenants, provisions and <br />conditions of this Lease with Purchase Option. No assignment or subletting of this Lease with <br />Furchase Option at any time shall relieve Lessee of any obligations required to be perfoz�med by <br />Lessee. <br />[:� <br />
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