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<br /> provided, Lessor shall proceed with reasonable diligence and at <br /> its sole cost and expense to rebuild and repair the <br /> improvements. If the Leased Premises shall be damaged or <br /> destroyed by fire or other casualty so as to render untenantable <br /> more than fifty per cent of the floor area of the entire <br /> building on the Leased Premises, then Lessor may elect either to <br /> terminate this Lease or to proceed to rebuild and repair the <br /> improvements. Lessor shall give written notice to Lessee of <br /> such election within 60 days after the occurrence of such <br /> casualty and, if it elects to rebuild and repair, shall proceed <br /> to do so with reasonable diligence and at its sole cost and <br /> expense. <br />11.3. Lessor's obligation to rebuild and repair under this article <br /> shall be limited to restoring the damaged portion of the Leased <br /> Premises to substantially the condition in which Lessor had <br /> placed the Leased Premises at the time of Lessor's tender of <br /> possession thereof to Lessee hereunder, as modified by ordinary <br /> wear and tear preceding such damage or destruction. Lessee <br /> agrees that, promptly after completion of such work by Lessor, <br /> it will proceed with reasonable diligence and at its sole cost <br /> and expense to rebuild, repair and restore its signs, fixtures, <br /> equipment and any other work necessary to open the Leased <br /> Premises for business. <br />11.4. During any period of reconstruction or repair of the Leased <br /> Premises, this Lease shall continue in full force and effect <br /> except that the fixed rental shall be abated for the length of <br /> time necessary for the reconstruction or repairs in proportion <br /> to the amount of floor area of the Leased Premises rendered <br /> unusable, but there shall be no abatement of any other amounts <br /> payable by Lessee under the terms hereof. <br />11. 5. Any insurance against casualty loss which may be carried by <br /> either Lessor or Lessee shall be under the sole control of the <br /> party carrying such insurance and the other party shall have no <br /> interest in any proceeds of such insurance. Lessor and Lessee <br /> hereby expressly waive any cause of action or right of recovery <br /> -12- <br />