4.5 SR 05-16-2022 - Laserfiche WebLink

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ARTICLE 15. EMINENT DOMAIN A. If the entirety of the Demised Premises are condemned (this term includes sales in lieu of condemnation, and so-called "quick takes"), then this Sub -Lease will terminate as of the date possession shall be taken by the condemning authority, and rent shall be paid to the date of such termination. Otherwise, this Sub -Lease will remain in effect notwithstanding any condemnation, but with an equitable abatement of Base Rent and/or Additional Rent based on the portion, if any, of the Demised Premises rendered unsuitable for office use and the extent of that unsuitability. Absent termination of this Sub -Lease, Landlord has the option of reducing or eliminating any unsuitability resulting from a condemnation by restoring or remodeling the Demised Premises or by making available substitute areas of the Property reasonably acceptable to Tenant. B. Landlord is entitled to all condemnation proceeds, no matter what the stated basis therefor; provided, however, that Tenant shall have the right to claim and recover from the condemning authority, but not from Landlord, such compensation as may be separately awarded or recoverable by Tenant in Tenant's own right on account of any relocation costs or any resulting damage to Tenant's business. Tenant shall have no claim against Landlord for the value of any unexpired term of this Sub -Lease. ARTICLE 16. DAMAGE OR DESTRUCTION In the event of any damage or destruction to the Property by fire or other cause during the term hereof, the following provisions shall apply: A. If the Building is damaged by fire or any other cause to such extent that the cost of restoration, as reasonably estimated by Landlord (and/or Property Owner), will equal or exceed thirty percent (30%) of the replacement value of the Building (exclusive of land value and foundations) just prior to the occurrence of the damage, then Landlord may, no later than the ninetieth (90th) day following the damage, give Tenant written notice of Landlord's election to terminate this Sub -Lease. In such event, this Sub -Lease shall be deemed to terminate on the thirtieth (30th) day after the date of Landlord's notice of election to terminate, and all rentals shall be paid up to said thirtieth (30th) day. Tenant shall have no claim against Landlord for the value of any unexpired term of this Sub -Lease. B. If the cost of restoration as estimated by Landlord (and/or Property Owner) is less than thirty percent (30%) of said replacement value of the Building, or if, despite the cost, Landlord does not elect to terminate this Sub -Lease, then Landlord shall restore the Demised Premises with reasonable promptness, subject to delays beyond Landlord's control and delays in the making of insurance adjustments; and Tenant shall have no right to terminate this Sub - Lease except as herein provided. Landlord shall not be responsible for restoring or repairing trade fixtures, leasehold improvements, personal property or equipment of Tenant. C. In any case where damage to the Demised Premises renders them materially unsuitable in whole or in part for office use, then unless such damage was wholly or partially caused by the negligence or breach of the terms of this Sub -Lease by Tenant, its employees or -6-