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~~- <br />~ ~~ <br />7. Damaae Destruction and Condemnation.. <br />a_ If any .structure located an the Premises is <br />destroyed (in whole or in part.} or is damaged by fire or other <br />casualty to such extent that the claim for loss, under the <br />insurance policies required to be carried by this Lease, <br />resulting from such. destruction or damage is not greater than <br />$10q,00q, Tenant {i} will promptly repair, rebuild or restore the <br />property damaged or destroyed to substantially the-same condition <br />as it existed prior to the event causing such damage. or <br />destruction, with. such changes, alterations and modifications <br />{including the substitution and addition of other property) as <br />maybe desired },y Tenant and as will not impair operating unity <br />or productive capacity or the character of the Premises as a <br />manufacturing plant.,. and {i:i) will apply for such purpose so much <br />as may be necessary of any Net Proceeds of insurance resulting <br />from such claims for lasses, as well as any additional moneys of <br />Tenant necessary therefor. All Net Proceeds c£ insurance <br />resulting from such claims for losses not in excess~of $lOq,OgO <br />shall be paid to Tenant, <br />If. the Premises is destroyed (in whole or in part.) or is <br />damaged by fire or other casualty to such extent that the claim <br />for lass under the insurance policies required to be carried by <br />this Lease hereof resulting from such destruction or damage is in <br />excess of $~.oq,gg0, Tenant shall promptly give written notice <br />thereof to Landlord. All Net Proceeds of insurance resulting. <br />from such claims for losses in, excess of $100,Og0 shall be <br />received by Tenant., in trust, and applied by Tenant promptly to <br />repair, rebuild or restore the portion of the Premises damaged or <br />destrayed.ta substantially the same condition as it existed prior <br />to the event causing such damage or destruction, with such <br />changes, ahteratons and modifications {including the <br />substitution and addition of other property) as may be desired by <br />Tenant and as will not: impair operating unity or productive <br />capacity or the character cif the Premises as a manufacturing. <br />plant. In the event said.. Net Proceeds are not sufficient to pay <br />in full the costs of such: repair., rebuilding or,restoratian, <br />Tenant will nonetheless complete the work thereof and will pay <br />that. portion of the costs thereof in excess of .the amount of said <br />Net Proceeds.. Any balance of such Net Proceeds remaining after <br />payment of all the casts. of such repair,, rebuilding or <br />restoration-, upon concurrence of Landlord, that repair, <br />rebuilding or restoration complies with the requirements of Ghis <br />paragraph, are released from the trust created here. and shall be <br />.paid to Tenant, except rent loss insurance proceeds which. shall <br />be payable to Landlord.' <br />If the structures on the Premises shall have been damaged or <br />destroyed {i) to such extent that., in the opinion of an <br />Lndependent Engineer expres ed. in a certificate filed with <br />Landlord, it cannot be reasonably restored within a period of six <br />consecutive months to the condition thereof immediately preceding <br />such damage or destruction, ar iii} to such extent that, in the- <br />1q <br />