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condition in which they existed upon commencement of this Lease. Lessee shall, at its sole <br />cost and risk, be responsible for rebuilding or repairing any damaged improvements made by <br />Lessee. If the Premises are untenantable in whole or in part following such damage, the rent <br />payable during the period in which they are untenantable shall be adjusted equitably. In the <br />event that Lessor should elect not to so rebuild or repair the Premises or fails to complete <br />such rebuilding or repairs within 180 working days after the date of Lessor's receipt of <br />insurance proceeds in connection with the casualty, Lessor or Lessee may terminate this <br />Lease by written notification. Upon such notification, all rights and obligations under this <br />Lease shall cease. <br />10.04. If the destruction (in whole or in part) of the Premises is the result of or caused by (in whole or in <br />part) any act or omission of Lessee, or any person in or about the Premises with the express or <br />implied consent of Lessee (including, without limitation, Lessee's representatives, agents, <br />invitees, and contractors), Lessor may elect (at its sole option and in its sole discretion) to rebuild <br />the Premises and the building or structure of which the Premises may be a part. If Lessor so elects <br />to rebuild, Lessee shall pay Lessor the difference between the actual cost of rebuilding and any <br />insurance proceeds received by Lessor as a result of the casualty destruction. Lessee's obligations <br />under this paragraph shall survive the termination of this Lease. <br />ARTICLE 11: ASSIGNMENT AND SUBLETTING <br />11.01. The Lessee shall not assign or sublet all or part of its interest in this Lease without the advance <br />written consent of the Lessor. Consent by the Lessor to one (1) or more assignments or <br />sublettings shall not operate as a waiver of the Lessor's rights as to any subsequent assignments <br />or sublettings. Notwithstanding subletting, the Lessee shall remain fully responsible and liable <br />for the payment of the rent and for compliance with all of its other obligations under this Lease. <br />11.02. In the event of an assignment by the Lessor of all of its interest in this Lease to a person, firm or <br />corporation that assumes all of the Lessor's obligations, the Lessee agrees to look solely to the <br />responsibility of the successor -in- interest of the Lessor. Any security given by the Lessee to <br />secure performance of its obligations may be assigned and transferred by the Lessor to its <br />successor -in- interest, and the Lessor shall be released of any further obligations under this Lease. <br />ARTICLE 12: EVENTS OF DEFAULT AND REMEDIES• TERMINATION <br />12.01. The following events shall be events of default by the Lessee under this Lease: <br />a. The Lessee fails to pay when due any rental or any other sums or charges due under this <br />Lease, and such failure continues for seven (7) days following written notice thereof <br />(provided, however, that Lessor shall be obligated to give only two such notices in any <br />calendar year, and after such two notices, Lessor will no longer be obligated to give any other <br />notice under this Section within such calendar year). <br />Page 12 of 20 <br />