Res 2007-159 - Laserfiche WebLink

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party hereto, its agents, officers, or employees, and covenants that no insurer shall hold any right of subrogation against such other party. ARTICLE XIII. Section 13.1. Loss or Damage to Tenant's Property. Landlord and Landlord's agents and employees shall not be liable to Tenant for any injury to person or damage to property caused by the Demised Premises or other portions of the Shopping Center becoming out of repair or by defect or failure of any structural element of the Demised Premises or of any equipment, pipes or wiring, or broken glass, or by the backing up of drains, or by gas, water, steam, electricity or oil leaking, escaping or flowing into the Demised Premises (except where due to Landlord's willful failure to make repairs), nor shall Landlord be liable to Tenant for any loss or damage that may be occasioned by or through the acts or omissions of other Tenants of the Shopping Center or of any other persons whomsoever, excepting only duly authorized employees and agents of Landlord. With respect to latent or patent defects in the Demised Premises or in the building of which they are a part, Landlord's liability hereunder shall be limited to the repair of such defects, provided such liability shall not extend beyond one year beyond the date of substantial completion of the construction of the Demised Premises, whether or not such defects are discovered within such one-year period. ARTICLE XIV. Section 14.1. Damage or Destruction by Fire or Other Casualty. Tenant shall give immediate written notice to Landlord of any damage caused to the Demised Premises by fire or other casualty. In the event Tenant shall fail to give written notice to Landlord of any such damage within twenty-four (24) hours after any, such occurrence, Tenant shall be responsible for and shall indemnify and hold Landlord harmless from any and all consequential damages arising or to arise in connection therewith. In the event that the Demised Premises shall be damaged or destroyed by fire or other casualty insurable under standard fire and extended coverage insurance and Landlord does not elect to terminate this Lease as hereinafter provided, Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Demised Premises. In the event (a) the building in which the Demised Premises are located shall be destroyed or substantially damaged by a casualty not covered by Landlord's insurance, or (b) such building shall be Destroyed or rendered untenantable to an extent in excess of fifty percent (50%) of the first floor area by a casualty covered by Landlord's insurance, or (c) such building shall be damaged to such extent that the remaining term of the lease is not sufficient, to amortize the cost of reconstruction, or (d) the holder of a mortgage, deed of trust or other lien on the Demised Premises at the time of the casualty elects, pursuant to such mortgage, deed oftrust or other lien, to require the use of all or part of Landlords insurance proceeds in satisfaction of all or part ofthe indebtedness secured by the mortgage, deed of trust or other lien, then in any such eventuality Landlord may elect either to terminate this Lease or to proceed to rebuild and repair the Demised Premises. Landlord shall give written notice to Tenant of such casualty and if it elects to rebuild and repair shall proceed to do so with reasonable diligence and at its sole cost and expense. Landlord's obligation to rebuild and repair under this Article XIV shall in any event be limited to restoring the Demised Premises, exclusive of any alterations, additions, improvements, fixtures and equipment installed by Tenant, to substantially the same condition in which the same existed prior to the casualty, as the case may be. Tenant agrees that promptly after completion of such work by Landlord, Tenant will proceed with reasonable diligence and at Tenant's sole cost and expense to restore, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant and promptly reopen for business in the premises. INlTlAL~ 15