AG 2006 03 20 - Laserfiche WebLink

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9. Mutual Covenants: It is mutually covenanted and agreed: (a) That if the leased premises shall be wholly or partially destroyed or damaged by fire, or other casualty, this lease shall not be terminated, but Landlord shall rebuild and restore said premises within a reasonable time and the minimum rent shall be abated proportionately until the leased premises shall have been restored; if fifty percent (50%) or more of the entire Shopping Center is destroyed by fire or other casualty, either party may, by written notice, given within thirty (30) days after such destruction, terminate this lease. (b) In the event any of the leased premises are taken by eminent domain, the minimum rent shall be abated proportionately from the date of such taking. If twenty (20%) percent or more of the leased space is so taken, the Tenant may, by giving written notice to the Landlord within thirty (30) days after receipt of notice of the condemnation proceedings, terminate said lease. If fifty percent (50%) or more of the entire Shopping Center is taken by eminent domain, Tenant may, by written notice given within thirty (30) days after knowledge of such taking, terminate this lease. All compensation awarded under any eminent domain proceedings shall be the property of Landlord regardless of whether such damages shall be awarded as compensation for the diminution in value of the leasehold or to the fee of the leased premises. Provided, however, Landlord shall not be entitled to any award made Tenant for depreciation to and cost of removal of equipment and fixtures. (c) If the Tenant shall be adjudicated a bankrupt or voluntarily petition for bankruptcy, or be placed in the hands of a receiver or make an assignment for the benefit of creditors, Landlord may, at its option, declare this lease terminated and take immediate possession of the premises. (d) Any fixtures or other property of the Tenant placed in or upon or affixed or attached to the leased premises shall remain its property and Tenant shall have the right to remove the same upon vacating the premises or at any time prior thereto, provided Tenant shall first make satisfactory arrangements to restore the premises, at its expense, to the same condition as when the fixtures were installed and providing all rents due and have been fully paid and Tenant is not in default in any way. (e) That this lease shall be subordinate to any mortgage that may be placed on the Shopping Center without any further action upon the part of the Tenant. Notwithstanding the 6 /=- - I (.0