5.2. SR 12-07-1998 - Laserfiche WebLink

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(b) If Net Proceeds equal or exceed Ten Thousand Dollars ($10,000) in amount, the written approval of such certificate by an independent engineer. (03) Lessee shall complete the repair, reconstruction and restoration of the Improvements, whether or not the Net Proceeds of insurance received by Lessee for such purposes are sufficient to pay for the same. (04) No destruction of or damage to the Improvements or any part thereof by fire or any other casualty shall permit Lessee to surrender this Lease Agreement or shall relieve Lessee from its liability to pay the full rent and Additional Rent and other charges payable under this Lease Agreement or from any of its other obligations under this Lease Agreement; and Lessee waives any rights now or hereafter conferred upon it by statute or otherwise to quit or surrender this Lease Agreement or the Leasehold Property or any part thereof, or to any suspension, diminution, abatement or reduction of rent or Additional Rent on account of any such destruction or damage. (05) Anything herein to the contrary notwithstanding if, during the last five (5) years of the term hereof, the Improvements are so damaged by fire or otherwise that the cost of replacement or restoration thereof shall exceed fifty percent (50%) of the then replacement value of the Improvements or portion thereof so damaged, then Lessee may decline to rebuild and this Lease Agreement shall terminate upon written notice by Lessee to Lessor. In the event of any such termination, this Lease Agreement and the term hereof shall end as of the effective date of such termination, the Net Proceeds shall be the property of Lessor and Lessee shall have no right or claim with respect thereto. No such termination shall release Lessee from any obligation hereunder for rent, Additional Rent, taxes and insurance premiums accrued or payable for or during any period prior to the effective date of such termination, and any prepaid rent, taxes and insurance premiums beyond the effective date of such termination shall be adjusted. ARTICLE 7. THE IMPROVEMENTS 7.1) Construction - Lessee will construct the Improvements on the Leasehold Property and in accordance with the Construction Plans approved by Lessor. Lessee shall begin construction of the Improvements within thirty (30) days from the date on which Lessor approves the Construction Plans, and shall diligently prosecute to completion the development of the Leasehold Property through the construction of the Improvements thereon, and shall achieve Substantial Completion of the Improvements no later than Lessee shall construct the Improvements in a safe and secure manner that minimiz~,~ any risk of injury or damage to persons or property and that causes the least possible disruption of the use of the adjoining city park. Lessee shall not cause or permit the storage or deposit of any debris, equipment or materials on the adjoining city park property. BURNIS 566679.3 8 of 22