25C - AGMT FIFTH ST PARKING LEASE

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herein to the contrary, the insurance obligations of Tenant set forth in this Lease may be satisfied by endorsements to existing excess/umbrella policies written by companies of recognized standing showing a self-insurance retention of not less than the public liability requirement." Tenant shall maintain the foregoing insurance coverages in force throughout the term of this Agreement. The requirement for carrying the foregoing insurance coverages shall not derogate from the provisions for indemnification of Landlord by Tenant under the Agreement. Landlord or its representatives shall at all times have the right to demand the original or a copy of all these policies of insurance, which Tenant shall provide within fifteen (15) days of Landlord's request. ARTICLE 5 —TERMINATION RIGHTS Section 5.01 Termination in the Event of Casualty or Condemnation/ (a) In the event of any damage, destruction or condemnation of the Parking Structure or the Lease Area, which renders the Lease Area unusable, inaccessible or inoperable in Landlord's reasonable good faith. judgment, Tenant shall have the right, but not the obligation, to terminate the Agreement with respect to all or the inaccessible/unusable portion of the Lease Area by giving written notice to Landlord within thirty (30) days after such damage, destruction or condemnation. If Tenant does not elect to terminate,,then Landlord shall repair the damage and, to the extent Tenant's use of the Lease Area is rendered unavailable, Compensation shall be abated on proportional basis until Landlord's repairs have been completed. If Landlord's repairs to the Lease Area have not been completed within ninety (90) days from the date of the/damage, destruction or condemnation, Tenant shall again have the right to terminate this Agreement upon thirty (30) days' notice to Landlord, unless all -repairs are completed within such 30 -day period. (b) In the event,.of condemnation, unless Tenant is allowed by the condemning authority to'continue its use of the Lease Area, this Agreement shall terminate as of the date title to the Property vests in the condemning authority or Tenant is required to cease its use, whichever is earlier. If any property described herein or hereinafter added hereto is taken in eminent domain, the entire award shall be paid to Landlord. (c) Subject to the provisions of Section 8.01, and if Tenant opts to not terminate this Agreement pursuant to Section 5.01, with respect to some or all of the parking spaces within the Lease Area, the City will work with Tenant to provide reserved parking spaces at the closest City owned lot where parking is available at rates charged to Tenant at the time of the event. If the parties cannot mutually agree upon a replacement location, the parties retain their right to terminate this Agreement. 7 25C-13