24. DESTRUCTION OF PREMISES BY FIRE OR OTHER CASUALTY
(a) If the Premises are partially damaged by fire or other casualty,
the damages shall be repaired by and at the expense of Landlord
and restored to the condition which existed immediately prior
to such damage and the Base Rent and additional rent shall be
apportioned from the date of such fire or other casualty until
substantial completion of the repairs, according to the part of
the Premises which is usable by Tenant. Landlord agrees to repair
such damage within a reasonable period of time after receipt from
Tenant of written notice of such damage, subject to any delays
caused by Acts of God, labor strikes or other events beyond Landlord's
control. Landlord shall not be liable for any inconvenience or
annoyance to Tenant or injury to the business of Tenant resulting
in any way from such damage or the repair thereof. Tenant acknowledges
notice that (i) Landlord shall not obtain insurance of any kind
of Tenant's furniture or furnishings, equipment, fixtures, alterations,
improvements and additions, (ii) it is Tenant's obligation to
obtain such insurance at Tenant's sole cost and expense, and (iii)
Landlord shall not be obligated to repair any damage thereto or
replace the same.
(b) If, in the reasonable opinion of Landlord, the Premises are
(i) rendered substantially untenable by reason of such fire or
other casualty, or (ii) twenty (20%) per cent or more of the Premises
is damaged by said fire or other casualty and less than two (2)
years would remain in the current Lease term upon substantial
completion of the repairs and restoration, Landlord shall have
the right, upon written notice to Tenant within thirty (30) days
after said occurrence, to elect not to repair and restore the
Premises, and in such event, this Lease and the tenancy hereby
created shall cease as of the date of said occurrence, the Base
Rent and additional rent to be adjusted and apportioned as of
said date.
(c) If, in the reasonable opinion of Landlord, the Building shall
be substantially damaged by fire or other casualty, regardless
of whether or not the Premises were damaged by such occurrence,
Landlord shall have the right, upon written notice to Tenant within
thirty (30) days after said occurrence, to terminate this Lease,
and in such event, this Lease and the tenancy hereby created shall
cease and the Base Rent and additional rent shall be adjusted
and apportioned as of the date of said termination unless terminated
as of the date of said occurrence in accordance with paragraph
20 (b) above.
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