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therefrom. The Lessor shall, in good faith, execute all actions necessary to apply <br />any such proceeds to the Demised Premises and its reconstruction or <br />refurbishment for its purpose as intended pursuant to this Agreement within sixty <br />(60) days after the casualty loss. If the reconstruction or refurbishment of the <br />Demised Premises to allow Lessee to use the Premises for its intended purpose <br />pursuant to this Agreement has not been initiated in good faith or has not been <br />fifty percent (50%) completed within one hundred eighty (180) days of the receipt <br />of the insurance proceeds, and fully completed within two hundred seventy (270) <br />days of the receipt of the insurance proceeds, Lessee shall receive $127,000 of <br />such proceeds. <br />16. Failure by the Lessee to perform any obligation or covenant listed in <br />the Interlocal Agreement shall constitute a breach of the Interlocal Agreement and <br />be termed an Event of Default. Any Event of Default shall subject the Lessee. to <br />ejectment by the Lessor and termination of the Interlocal Agreement by Lessor for <br />just cause. <br />VI. LESSOR COVENANTS <br />During the Agreement Term, Lessee shall peaceably and quietly hold and enjoy <br />the Demised Premises without hindrance or interruption by Lessor, or anyone claiming <br />by, through or under the Lessor, for the purposes herein enumerated, so long as Lessee <br />observes all terms, covenants and conditions to be performed and observed, with the <br />7 <br />C~ _. <br />