Res 2011-093 - Laserfiche WebLink

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business of the Tenant, 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 Landlord shall make an equitable refund of any rent paid by the Tenant in advance. 8.04 Tenant will have no claim to the condemnation award or proceeds in lieu of condemnation, except for relocation or other benefits that are payable to Tenant by the condemning authority but that do not reduce the award or proceeds payable to the Landlord. Article 9. Damage by Casualty 9.01. The Tenant shall give immediate verbal notice, and prompt written notice to the Landlord 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 Landlord does not elect to terminate the Lease, the Landlord 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 50% of the floor area of the Facilities unusable, then the Landlord may elect either to terminate this Lease or to proceed to rebuild and repair the Facilities. The Landlord shall give written notice to the Tenant of this election within 60 days after the occurrence of the casualty. If the Landlord 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 rental shall be abated for the length of time necessary for the reconstruction or repairs in proportion to the amount of floor area of the Leased Premises rendered unusable, but there shall be no abatement of any other amounts payable by the Tenant under the terms of this Lease. 9.04. Any insurance against casualty loss which may be carried by either the Landlord or the Tenant shall be under the sole control of the party carrying the insurance, and the other party shall have no interest in any proceeds of this insurance. Landlord and Tenant expressly waive any cause of action or right of recovery which either of them may have against the other for any loss or damage to the Leased Premises or to the contents caused by fire, explosion, or other risk covered by the casualty insurance. Article 10. Assignment and Subletting 12 Tenant:IL-Landlord: