Laserfiche WebLink
Casualty Damage. (ii) Lhe IloIder of any Security Instrtm milt requires any insurance proceeds with respect to such Casualty Damage to be applied to <br />the outstanding balance of the obligation secured by such Security Instrument, (iii) the cost of the Restoration is not fully covered by insurance <br />proceeds available to Landlord and/or payments received by Landlord from tenants, (iv) Tenant shall be entitled to an abatement of Rent under this <br />Section 13.1 for a period of time in excess of thirty-three percent (33%) of the remainder of the Term, or (v) such Casualty occurs during the last <br />eighteen (18) months of the Term (disregarding Extension Terms, if any). Stich right of termination shall be exercisable by Landlord by delivery of <br />written notice to Tenant at any time following the Casualty until sixty (60) days following the later of: (A) delivery of the Dunage Notice or (B) <br />Landlord's discovery or determination of any of the events described in clauses (i) through (v) of the preceding sentence, and shall be effective upon <br />delivery of such notice of termination (or if Tenant has not vacated the Premises, thirty (30) days thereafter). <br />13.1.3 Waiver. Landlord and Tenant agree that the provisions of this Section 13.1 and the remaining provisions of this Lease <br />Shall exclusively govern the rights and obligations of the parties with respect to any and all damage to, or destruction of, all or any portion of the <br />Premises or the Project. and Landlord and Tenant hereby waive and release each and all of their respective common law and statutory rights <br />inconsistent herewith, whether now or hereinafter in effect (including, without limitation, Sections 1932(2) and 1933(4) of the California Civil Code, <br />as amended from time to time). <br />13.2 Taking. If the whole or a material portion of the Premises, the Building or the Project shall be taken under the power of eminent <br />domain. or sold to prevent the exercise thereof (collectively, a "Taking"), this Lease shall automatically terminate as of the earlier of the dale of <br />transfer of title resulting from such Taking or the date of transfer of possession resulting fou such Taking (the "Taking Date"). In the event of a <br />Taking of such portion of the Project, the Building or the Premises as shall, in the opinion of Landlord, substantially interfere with Landlord's <br />operation thereof, Landlord may terminate this Lease upon thirty (30) days written notice to Tenant given at any time within sixty (60) days <br />following the Taking Date. If a portion of the Premises is so taken and this Lease is not terminated: (a) Landlord shall, with reasonable diligence <br />and at Landlord's cost (to the extent of the condemnation award received by Landlord), proceed to restore (to the extent permitted by Laws and <br />covenants, conditions and restrictions then applicable to the Project) the Premises (other than Tenant's Personal Property and Leasehold <br />Improvements that are not consistent with then Building Standards) to a complete, functioning unit and (b) the Base Rent payable hereunder shall be <br />reduced proportionately based on the portion of the Premises so taken. Except as expressly provided otherwise in this Section 13.2, the entire award <br />fm any Taking shall belong to Landlord (without deduction for any estate or interest of Tenant), except that Tenant shall be entitled to independently <br />pursue a separate award for the loss of, or damage to, Tenant's Personal Property and Tenant's relocation costs directly associated with the Taking <br />(but Tenant shall not otherwise assert any claim against Landlord or the condemning authority). No Taking of any portion of the Premises, the <br />Building or the Project (or any portion thereof) for a period of less than two hundred seventy (270) days (a "Temporary Taking") shall terminale <br />this Lease or entitle Tenant to any abatement of the Rent payable to Landlord under this Lease; provided, however, that any award for any such <br />Temporary Taking shall belong to "Permit, but only to the extent that the award applies to any time period during the Term of this Lease. This <br />Section 13.2 shall be Tenant's sole and exclusive remedy in the event of a Taking. Each party hereby waives the provisions of Sections 1265.130 <br />and 1265.150 of the California Code of Civil Procedure and the provisions of any successor or other law of like import. <br />ARTICLE 14—INDEMNIFICATION AND INSURANCE <br />14.1 Waiver of Liability and Indemnification. Except to the extent expressly provided to the contrary herein, Tenant hereby waives <br />all claims and causes of action against Landlord and all of the other Landlord Parties for any damage to persons or property (including, without <br />limitation, loss of profits and intangible property) in any way relating to Tenant's use and occupancy of the Premises from any cause whatsoever, <br />including, without limitation fire, explosion, falling plaster, steam, gas, air contaminants or emissions, electricity, electrical or electronic emanations <br />or disurbance, water, rain or snow or leaks from any part the Building or from die pipes, appliances, equipment or plumbing works or from the roof, <br />street or sub -surface or from any other place or caused by dampness, vandalism, malicious mischief. Tenant shall indemnify, defend, protect and <br />hold harmless Landlord and each of the Landlord Parties from and against any and all Claims that arise out of, are occasioned by or are in any way <br />attributable to: (a) the use or occupancy of the Premises or any portion of the Project by Tenant, (b) the acts or omissions of] enant or any Tenant <br />Party, (c) any default of this Lease by Tenunt, or (d) any litigation or other proceedings between Tenant and any third party; provided that Tenant <br />shall not be required to so indemnify, defend orhold Landlord or any ofthe other Landlord Parties harmless to the extent that any such Claims arise <br />out of tine gross negligence or willful misconduct of Landlord, its agents or employees. <br />142 Insurance. At all times during the Term of this Lease, Tenant shall: (a) procure and maintain, at its sole expense, the insurance <br />policies described in Exhibit - G", attached hereto and (b) otherwise comply with each and oil of the obligations and requirements set forth in Exhibit <br />"G. Landlord makes no representation that the insurance coverage specified to be carried by Tenant pursuant to this Exhibit "G" is adequate to <br />protect Tenant against Tenant's undertakings under the terms of this Lease or otherwise, and ifTenant believes that such insurance coverage required <br />uncicr this Lease is insufficient, at its own expense, Tenant shall provide such additional insurance as Tenant deems adequate. <br />14.3 Waiver of Subroaation. Notwithstanding any provision of this Article 14 to the contrary. Landlord and Tenant intend that their <br />respective properq damage loss risks shall be borne by their respective insurance carriers to the extent of the property damage insurance that each of <br />Landlord and Tenant are required to carry uncicr Exhibit "G", and except as expressly provided otherwise in this Lease, in the event ore property <br />Toss, each of Landlord and "tenant hereby agree to look solely to, and seek recovery only from, their respective property damage insurance carriers to <br />the extent that such property loss is of a type that is covered by the property damage insurance it is required to carp, under Exhibit "G". As long as <br />such waivers of subroemion are reasonably available, each orlhe parties hereto hereby waives all of its rights and claims against each ofthe other <br />parties hereto for such losses, and provided such waiver of subrogation shall not affect the right of such party as tine insured under its popere <br />damage policy (or policies) to recover thereunder, waives all of the rights of subrogation ofits property dannage insurers. The polies herelo further <br />acre shat, so long is no material additional premium is chorged therefore, their respective property insurance policies are now, or shall be, endorsed <br />such that the foregoing oniver nfsubroeution shall not affect the righl. ofthe insured to recover thereunder. <br />ARTICLE 15—EVENTS OF DEFAULTAND REMIJAES <br />15.1 Events of Default By Tenant, ]lie occurrence orally ofthe following shall coustinle a material default and breach of dais <br />Lease by Tenant (an Event of Default"): <br />801 H'Chir Center Dr—Cio 01Savvn.4 na Lease -13- <br />