1995 S Purchasing - Lease Renewal of Carrboro Plaza Driver License Bureau

Browse Search

14. SUBROGATION. Notwithstanding any other provision contained in this Lease, each of the parties hereby waives any rights it may have against the other party on account of any loss or damage to its property which arises from any risk generally covered by fire and extended coverage insurance or any other insurance required to be carried hereunder, whether or not such other party may have been negligent or at fault in causing such loss or damage. Each of the parties shall obtain a clause or endorsement in the policies of such insurance which each party obtains in connection with the Premises to the effect that the insurer waives, or shall otherwise be denied, the right of subrogation against the other party for loss covered by such insurance. 15. DAMAGE TO PREMISES. If the leased premises shall be damaged by fire, the elements,unavoidable accident or other casualty, but are not thereby rendered untenantable in whole or in part, LANDLORD shall promptly at its own expense cause such damage to be repaired, and the rent shall not be abated; if by reason of such occurrence, the premises shall be rendered untenantable only part, LANDLORD shall promptly at its own expense cause such damage to be repaired, and the minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenantable,if by reason of such occurrence the premises shall be rendered wholly untenantable,LANDLORD shall promptly at its own expense cause such damage to be repaired, and the minimum annual rent meanwhile shall be abated in whole, except that if at the time of such total destruction there shall be twenty-four months or less remaining of the term of this lease within ninety (90) days after said occurrence either COUNTY or LANDLORD at his option may give written notice that it has elected to terminate this lease, in which event the lease and the tenancy hereby created shall cease as of the date of said occurrence, and the minimum rental and the percentage rental shall be adjusted as of such date. Unless the parties shall otherwise agree in writing, LANDLORD shall have no interest in the proceeds of any insurance carried by the COUNTY on COUNTY'S interest in its lease and COUNTY shall have no interest in the proceeds of any insurance carried by LANDLORD. 16. CONDEMNATION. If any portion of the Premises shall be taken by the exercise of the power of eminent domain(or sold to the holder of such power pursuant to a threatened taking) this Lease shall terminate upon such taking or when such sale is completed. COUNTY shall not be entitled to any part of the condemnation award or purchase price and COUNTY expressly waives any rights thereto; provided, however, nothing contained herein shall be construed to preclude the COUNTY from prosecuting any claim directly against the condemning authority in such condemnation proceeding for loss of business, or depreciation to, damage to or costs of removal of or for the value of COUNTYS trade fixtures, furniture, other personal property belonging to COUNTY, excluding the value, if any, of COUNTY's leasehold interest. 17. ASSIGNMENT. COUNTY shall not voluntarily, involuntarily or by operation of law, assign, transfer, mortgage or otherwise encumber (herein collectively referred to as an "assignment")this Lease or any interest of COUNTY herein,in whole or in part, nor sublet the whole or any part of the Premises, nor permit the Premises or any part thereof to be used or occupied by others,without first obtaining in each and every instance the prior written consent of LANDLORD. LANDLORD acknowledges that although the County of Orange is the named tenant of this lease, the North Carolina Department of Motor Vehicles, Driver License Division, will be the principal 5