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commenced affecting, the Premises or Lessee's interest in the Premises, Lessee shall give <br />Lessor notice of such lien or action within three (3) days after Lessee receives notice of the <br />filing of the lien or the commencement of the action. In the event that Lessee shall not, within <br />twenty (20) days following the imposition of such lien, cause such lien to be released of <br />record by payment or posting of a proper bond, Lessor shall have, in addition to all of the <br />remedies provided herein and by law, the right, but not the obligation, to cause the same to <br />be released by such means as Lessor shall deem proper, including payment of the claim <br />giving rise to such lien or posting of a proper bond. All such sums paid by Lessor and all <br />expenses incurred by Lessor in connection therewith, including attorneys' fees and costs, <br />shall be payable to Lessor by Lessee as Additional Rent on demand. <br />15. CASUALTY INSURANCE <br />For as long as this Lease is in effect, all alterations, improvements and additions made in, on or <br />about the Premises by Lessee or owned by Lessee upon the Premises, whether new or existing, <br />shall be insured by Lessee, at its sole cost and expense, against loss or damage by fire or other <br />casualty, with extended coverage endorsements, in the joint names of Lessor and Lessee, and any <br />lender ("Lender') who executes Lessor's Lender's Agreement as provided in Section 20 of this <br />Lease. The amount of insurance shall be equal to the full insurable value of the improvements <br />insured, and the insurance company selected by Lessee shall be subject to Lessor's and Lender's <br />prior approval. Lessee shall pay all insurance premiums and related charges and, within ten (10) <br />days after the end of each year that this Lease is in effect, shall furnish Lessor and Lender an <br />updated certificate from the insurance carrier stating the current status of such insurance policy. <br />In the event any material portion of Lessee's improvements on the Premises is damaged or <br />destroyed by fire or other casualty as to render it unft for occupation or use, and as often as the <br />same shall occur, if the damaged improvement can, in Lessor's sole opinion, be restored within <br />ninety (90) days after the occurrence of such fire or other casualty, Lessee shall repair or restore the <br />damaged improvement with reasonable diligence and in accordance with original plans thereof or <br />with such modified plans as shall have been previously approved by Lessor in writing. All funds <br />received in connection with said insurance, together with funds supplied by Lessee from other <br />sources to make up for any defciency in said insurance proceeds, shall be deposited in a national <br />bank or trust company (most conveniently situated) in the names of both Lessor and Lender. All <br />funds so deposited shall be used to repair or restore any damage to the improvement insured, and <br />shall be disbursed to Lessee by Lessor and Lender as the work progresses upon presentation of <br />proper architect's or engineer's statement of expenses in connection with such repair or restoration <br />work. If the insurance proceeds received for such damage shall not exceed the sum of Ten <br />Thousand Dollars ($10,000), the requirement for impounding the insurance proceeds may be waived <br />but Lessee shall nevertheless repair or restore the damaged improvement in the manner as herein <br />provided. If Lessee refuses or fails to repair or restore the damaged improvement, Lessee shall be <br />deemed to be in default hereunder. Should Lender fail or refuse to undertake such work on behalf <br />of Lessee upon notification of such default, then Lessor may terminate this Lease forthwith. Upon <br />termination, all unexpended insurance proceeds so collected and deposited shall, after payment to <br />Lender of sums owed under any existing financing agreement, be applied by Lessor to the removal <br />from the Premises of Lessee's damaged improvement and to the restoration of the Premises; the <br />balance, if any, shall be applied to any damages suffered by Lessor as a result of such default and <br />termination. The rights of Lender under any such insurance policy, or policies as the case may be, <br />shall be subject to and limited by the foregoing provisions. <br />If, however, any material portion of Lessee's improvements on the Premises is so damaged by fire <br />Document 0011 <br />Page 10 of 20 <br />