Laserfiche WebLink
DO NOT RECORD <br />Lessee shall maintain the foregoing insurance coverages in force throughout the torah of <br />this Agreement. The requirement for carrying the foregoing insurance coverages shall <br />not derogate from the provisions for indemnification of Lessor by Lessee under tlhe <br />Agreement. Lessor or its representatives shall at all times have the right to demand the <br />original or a copy of all these policies of "insurance, which Lessee shall provide within <br />fifteen (15) days of Lessor's request. <br />ARTICLE 5 — TERMINATION /DE)A AUL "I" <br />Section 5.01 Termination <br />(a) In the event of any damage, destruction or condemnation of the property, <br />which renders the property unusable or inoperable in Lessor's judgment, <br />Lessee shall have the right, but not the obligation, to terminate the <br />Agreement with respect to the subject Property by giving written notice to <br />Lessor within thirty (30) days after such damage, destruction or <br />condemnation. If by virtue of such casualty or condemnation, Lessor <br />determines that the Property is no longer adequate for Lessee to continue its <br />operations, or any repairs to the Property have not been completed or cannot <br />reasonably be completed within sixty (60) days from the date of the damage, <br />destruction or condemnation. This Agreement will become null and void. <br />(b) In the event of condemnation, unless Lessee is allowed by the condemning <br />authority to continue its operations in the Property, this Agreement shall <br />terminate as of the date title to the Property vests in the condemning <br />authority or Lessee is required to cease its operations, whichever is earlier. If <br />any property described herein or hereinafter added hereto is taken in eminent <br />domain, the entire award shall be paid to Lessor. <br />(c) This Agreement may be terminated on fifteen (15) days prior written notice <br />by either party upon a default of any covenant or tern hereof by the other <br />party, which default has been noticed and is not cured within thirty (30) days <br />of receipt of written notice of default, provided that the grace period for any <br />monetary default is only ten (10) days from reccipt of notice. <br />ARTICLE 6 — ASSIGNMENT, ABANDONMENT, DEFAULT, INSOLVENCY <br />Section 6.01 Assignment <br />Lessee shall trot, either voluntarily or by operation of law, assign, transfer, mortgage, <br />pledge, or encumber this lease or any interest therein, and shall not sublet said Property <br />or any part thereof, or any right or privilege appurtenant thereto, or allow any other <br />person (the employees, agents, servants, and invitees of Lessee excepted) to occupy or <br />use said Property, or any portion thereof, without the prior written consent of the Lessor. <br />25E -10 <br />