Res 2011-054 - Laserfiche WebLink

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City of San Marcos ARTICLE 8. CONDEMNATION Airport 8.01. Total: If the whole of the LEASED PREMISES is taken by eminent domain, then this LEASE shall terminate as of the date the title vests in the proceeding. 8.02. Partial: If a portion of the LEASED PREMISES is taken by eminent domain, and the partial taking renders the remaining portion unsuitable for the business of the LESSEE, then this LEASE shall terminate. If the partial taking is not extensive enough to render the premises unsuitable for the business of the LESSEE, then this LEASE shall continue in effect, except that the fixed annual rental shall be reduced and adjusted in an appropriate manner. 8.03. If this LEASE is terminated as provided in this section, rent shall be paid up to the date that possession is taken by the condemning authority, and the LESSOR shall make an equitable refund of any rent paid by the LESSEE in advance. 8.04. Division of Award: The LESSOR and the LESSEE shall each be entitled to receive and retain separate awards, or portions of lump sum awards, as are allocated to their respective interests in the condemnation proceeding. Without limiting the generality of the preceding sentence, the LESSOR has no interest in any award made to LESSEE for LESSEE's moving and relocation expenses or for the loss of LESSEE's leasehold interest, fixtures and other tangible personal property if a separate award for such items is made to LESSEE. The termination of this LEASE under this Paragraph shall not affect the rights of the respective parties to such awards. ARTICLE 9. DAMAGE BY CASUALTY 9.01. The LESSEE shall give immediate verbal notice, and prompt written notice to the LESSOR of any damage caused to the LEASED PREMISES by fire or other casualty. 9.02. In the event that any improvements on the LEASED PREMISES are damaged or destroyed by fire or other casualty covered under insurance, and the LESSEE does not elect to terminate the LEASE, the LESSEE shall proceed at its sole cost and expense to promptly and diligently rebuild and repair the improvements. If the FACILITIES are damaged or destroyed by fire or other casualty that renders more than Fifty Percent (50 %) of the floor area of the FACILITIES unusable, then the LESSEE may elect either to terminate this LEASE or to proceed to rebuild and repair the FACILITIES. The LESSEE shall give written notice to the LESSOR of this election within Ninety (90) days after the occurrence of the casualty. If the LESSEE elects to rebuild and repair, it shall proceed to do so with diligence and at its sole cost and expense. 9.03. During any period of reconstruction or repair of FACILITIES on the LEASED PREMISES, this LEASE shall continue in full force and effect except that the Commercial Land Lease Page 8 of 18