Laserfiche WebLink
Section 8.05. Deposit of Insurance With Landlord and Lender <br />Tenant shall, within 10 days after the execution of this lease and promptly thereafter when any such <br />policy is replaced, rewritten, or renewed, deliver to Landlord and Lender a true and correct copy of each <br />insurance policy required by this Article of this lease or a certificate executed by the insurance company or <br />companies or their authorized agent evidencing that policy or policies. <br />Section 8.06. Notice of Cancellation of Insurance <br />Each insurance policy required under this Article shall contain a provision that it cannot be cancelled <br />for any reason unless 30 days' prior written notice of the cancellation is given to Landlord and to Lender in the <br />manner required by this lease for service of notices on Landlord by Tenant. <br />ARTICLE 9 <br />CONDEMNATION <br />Section 9.01. Total Condemnation <br />If, during the term of this lease, fee title to all of the Premises or to all of the Improvements, or the <br />entire leasehold estate of Tenant is taken under the power of eminent domain by any public or quasi - public <br />agency or entity (a "Total Taking "), this lease shall terminate as of 12:01 A.M. on whichever of the following <br />occurs first: (1) the date legal title becomes vested in the agency or entity exercising the power of eminent <br />domain, or (2) the date actual physical possession is taken by the agency or entity exercising the power of <br />eminent domain. Thereafter, both Landlord and Tenant shall be released from all obligations under this, lease. <br />Section 9.02. Partial Taking- Parking Areas <br />If, at any time during the term of this lease, a taking occurs that is less than a Total Taking and affects <br />the parking areas for the Community Center, all compensation and damages payable for that taking shall be <br />made available to and used, to the extent reasonably needed, by Tenant to repair any portion of the remaining <br />parking areas damaged by the taking and to replace the parking areas taken with other new parking areas on <br />the portion of the Premises not taken, provided that replacement is then permitted by existing law. Plans and <br />specifications for the replacement parking areas must first be approved in writing by Landlord. <br />Notwithstanding anything to the contrary in this Section, if the portion of the parking areas taken by eminent <br />domain results in a net loss of 25 percent or more of the area of the Premises that can, after considering any <br />replacement parking areas that can be lawfully constructed on the remaining portion of the Premises by <br />reasonable methods, be devoted to parking areas as compared with the area devoted to those parking areas <br />immediately before the taking, Tenant may terminate this lease in the manner prescribed by Section 9.04 of <br />this lease. <br />Section 9.03. Partial Taking - Improvements <br />If at any time during the term of this lease a taking occurs that is less than a Total Taking and affects <br />the rentable portion of the Improvements on the Premises, all compensation and damages payable for that <br />taking (excluding any portion payable for a taking of parking areas) shall be made available to and used, to the <br />extent reasonably needed, by Tenant to repair any portion of the remaining rentable portion of the <br />Improvements damaged by the taking and to replace the rentable portion of the Improvements taken with other <br />new rentable space on the portion of the Premises not taken, provided that replacement is then permitted by <br />existing law. Plans and specifications for the replacement rental space must be compatible, in terms of <br />architecture and quality of construction, with the Improvements not taken and must be first approved in <br />writing by Landlord. Notwithstanding anything to the contrary in this Section, if the rentable portion of the <br />