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Ord 2009-045
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Ord 2009-045
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Last modified
10/21/2009 10:55:49 AM
Creation date
8/20/2009 4:54:10 PM
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City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Zoning
Number
2009-45
Date
8/4/2009
Volume Book
182
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O}= I`HE RELEASE SET FORTH 1 THIS P '1AGRA*H AND ,VILL HAVE THE PROPERTY INSURANCE <br />:POLICIES FNDORSED. I, NECESSARY, TO PREVENT iNVALDATION OF COVERAGE. THIS RELEASE !PILL <br />NOT APPt Y M IT RA'ALIDATFS TFIF PROPERTY INSURANCE CO11F'k{'iE OF THE RFLEASTNG ?ARTY. <br />THE RELEASE IN THIS PARAGRAPH WILL APPLY EVEN IF THE DAMAGE OR LOSS IS CAUSED IN <br />NVIIOLL OR IN PART BY THE ORDINARY ti FGLIGENCE OR STRICT LIABILITY OF THE RELEASED <br />PARTY BUT WILL NOT APPLY TO THE EXTENT THE DAMAGE OR LOSS IS CAUSED BY THE GROSS <br />NEGLIGENCE OR WILLFUL MISCONDUCT OF THE RELEASED PARTY. <br />CasualpylTotal or Partial Destruction <br />a. If the Premises are damaged by casualty and can be restored within ninety <br />days, Landlord will, at its expense, restore any leasehold improvements <br />within the Premises that are not within Tenant's Rebuilding Obligations to <br />substantially [lie same condition that existed before the casualty and <br />Tenant will, at its expense, replace any leasehold improvements that are <br />within Tenant's Rebuilding Obligations. If Landlord faits to complete the <br />portion of the restoration for which Landlord is responsible within ninety <br />days from Cie date of written notification by Tenant to Landlord of the <br />casualty, Tenant may terminate this lease by written notice to Landlord <br />before Landlord completes Landlord's restoration obligations. <br />b. If Landlord cannot complete the portion of the restoration for which <br />Landlord is responsible within ninety days, Landlord has an option to <br />restore the Premises. If Landlord chooses not to restore, this lease will <br />terminate. If Landlord chooses to restore, Landlord will notify Tenant in <br />writing of the estimated time to restore and give Tenant an option to <br />terminate this lease by notifying Landlord in writing within ten days from <br />receipt of Landlord's estimate. IfTenant does not notify Landlord timely <br />of Tenant's election to terminate this tense, the lease will continve and <br />Landlord will restore the Premises as provided in a. above. <br />C. To the extent the Premises are untenantable after t?re casualty, the Rent <br />will be adjusted as may be fair and reasonable. <br />COttde)i;tlationlSttbstantial orPartial Tahng <br />a. If the Premises cannot be used for the purposes contemplated by this lease <br />because of condemnation or purchase in lieu of condemnation, this lease <br />will terminate. <br />b. If there is a condemnation or purchase in lieu of condemnation and this <br />lease is not terminated, Landlord will, at Landlord's expense, restore the <br />Premises, and the Rent payable during the unexpired portion of the Tenn <br />wiII be adjusted as may be fair and reasonable. <br />C. Tenant will have no claim to the condemnation award or proceeds in lieu <br />E
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