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<br /> 25K <br /> -12- <br /> to rebuild and repair the Demised Premises. If the building in <br /> which the Demised Premises are located shall be destroyed or <br /> substantially damaged by a casualty not covered by. Landlord's <br /> insurance, or be destroyed or rendered untenantable to an extent in <br /> excess of fifty (50) percent of the first floor area by a casualty <br /> covered by Landlord's insurance, then Landlord may elect either to <br /> terminate this lease or to proceed to rebuild and repair the <br /> Demised Premises. Landlord shall give written notice to Tenant of <br /> such election within sixty (60) days after the occurrence of such <br /> casualty and if it elects to rebuild and repair shall proceed to do <br /> so with reasonable diligence and at its sole cost and expense. <br /> 13.03 Landlord's obligation to rebuild and repair under this <br /> ~ <br /> Article XIII shall in any event be limited to restoring to <br /> substantially the original construction the condition in which the <br /> same existed prior to the casualty, and Tenant agrees that, <br /> promptly after completion of such work by Landlord, it will proceed <br /> with reasonable diligence and at its sole cost and expense to <br /> rebuild, repair, and restore its s:i,gns, fixtures, equipment, and <br /> the other items of Tenant's work. <br /> 13.04 Tenant agrees that during any period of reconstruction <br /> or repair of the Demised Premises it will continue the operation of <br /> its business within the Demised premises to the extent practicable. <br /> During the period from the occurrence of the casualty until <br /> Landlord's repairs are completed, the minimum guaranteed rental <br /> shall be reduced to such extent as may be fair and reasonable under <br /> the circumstances: <br />