10.2. SR 08-04-2014 - Laserfiche WebLink

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t question shall be submitted to arbitration as provided in Article 12 hereof . 10.4) If the Premises, or any part thereof, is damaged or destroyed by the willful or negligent conduct of Tenant or its agents, employees, or independent contractors, Tenant shall promptly repair such damage or replace such improvement so destroyed; provided that if such damage or destruction is caused by negligence and is or would be covered by the insurance required to be procured and maintained by the terms of Article 8 then, to the extent that the cost of repairing or replacing such damage or destruction does not exceed the amounts of such insurance, Tenant shall be relieved from such obligation to repair or replace. Base Rent and Additional Rent shall not be abated as a result of willful conduct of Tenant or its agents, employees, or independent contractors which result in or cause such damage or destruction. ARTICLE 11. CONDEMNATION 11. 1) If during the Term of the Lease the entire Premises shall be taken as a result of the power of eminent domain, condemnation proceedings, or other like proceedings (the Proceedings) , the Lease and all right, title, and interest of Tenant hereunder shall cease and come to an end on the date of taking of possession pursuant to the Proceedings. During the first ten (10) years of the term of this Lease, Tenant shall be entitled to and shall receive the first Forty Thousand and 00/200 Dollars ($40, 000. 00) of any award which is allocable to the Premises. Landlord shall be entitled to and shall receive that portion of any award which is granted during the first ten (10) years of the Term of this Lease allocable to the Premises in excess of Forty Thousand and 00/100 Dollars ($40, 000 .00) and the entire portion of any award allocable to the Premises granted after the first ten (10) years of the Term of this Lease. In addition, at all times during the Term of this Lease, Landlord shall be entitled to and shall receive the total award in the Proceedings which are not allocable to the Premises. 11.2) If during the Term less than the entire Premises, but twenty-five percent (25t) or more of the Improvements (calculated by the number of square feet of floor space) or fifty percent (50U or more of the Land shall be taken by the Proceedings, the Lease shall, upon taking of possession pursuant to the Proceedings, terminate as to the portion of the Land and Improvements so taken, and Tenant may terminate the Lease as to the remainder of the Premises. Such termination as to the remainder of the Premises shall be 'effected by a notice to Landlord in writing given not more than sixty (60) days after the date of taking of possession pursuant to such Proceedings, and shall specify a date not more than sixty (60) days after the giving of such notice as the date of such termination. Upon the 8 .