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<br />VDL 241r~H633 <br /> <br />8.03 If this Lease is terminated as provided in this section, rent shall be paid up to the date that <br />possession is taken by the condemning authority, and the lessor shall make an equitable refund <br />of any rent paid by the Lessees in advance. <br /> <br />8.04 Division of Award: The Lessor and the Lessees shall each be entitled to receive and retain <br />separate awards, or portions of lump sum awards, as are allocated to their respective interests in <br />the condemnation proceeding. The termination of this Lease under this Paragraph shall not affect <br />the rights of the respective parties to such awards. <br /> <br />Article 9. Damage by Casualty <br /> <br />9.01. The Lessees shall give immediate verbal notice and prompt written notice to the Lessor of <br />any damage caused to the Leased Premises by fire or other casualty. <br /> <br />9.02. In the event that any improvements on the Leased Premises are damaged or destroyed by <br />fire or other casualty covered under insurance, and the Lessees do not elect to terminate the <br />Lease, the Lessees shall proceed at their sole cost and expense to promptly and diligently rebuild <br />and repair the improvements. If the Hangar is damaged or destroyed by fire or other casualty that <br />renders more than 50% of the floor area of the Hangar unusable, then the Lessees may elect <br />either to terminate this Lease or to proceed to rebuild and repair the improvements. The Lessees <br />shall give written notice to the Lessor of this election within 60 days after the occurrence of the <br />casualty. If the Lessees elect to rebuild and repair, it shall proceed to do so with diligence and at <br />its sole cost and expense. <br /> <br />9.03. During any period of reconstruction or repair of improvements on the Leased Premises, this <br />Lease shall continue in full force and effect, except that the rental shall be abated for the length <br />of time necessary for the reconstruction or repairs in proportion to the amount of floor area of the <br />Leased Premises rendered unusable, but there shall be no abatement of any other amounts <br />payable by the Lessees under the terms of this Lease. <br /> <br />9.04. Any insurance against casualty loss which may be carried by either the Lessor or the <br />Lessees shall be under the sole control of the party carrying the insurance, and the other party <br />shall have no interest in any proceeds of this insurance. Lessor and Lessees expressly waive any <br />cause of action or right of recovery which either of them may have aga.inst the other for any loss <br />or damage to the Leased Premises or to the contents caused by fire, explosion, or other risk <br />covered by the casualty insurance. <br /> <br />Article 10. Assignment and Subletting <br /> <br />10.01. The Lessees shall not assign or sublet all or part of its interest in this Lease without the <br />advance written consent of the Lessor. Consent by the Lessor to one 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 any assignment or subletting, the Lessees shall remain fully <br />responsible and liable for the payment of the rent and for compliance with all of their other <br />obligations under this Lease. <br /> <br />COSM Form 1/99 <br /> <br />6 <br />