Orange County NC Website
• <br /> of the time of the occurrence of such damage and rent paid to <br /> Lessor for the year in which the termination occurs shall be <br /> rebated to Lessee pro rata. <br /> The loss or destruction of any building on the <br /> premises other than the main building shall not affect this <br /> lease. However, Lessee may at its option and upon giving the <br /> notice provided above to Lessor, repair or rebuild any such <br /> building. Repair or rebuilding of any building other than <br /> • the main building shall be done at Lessee's expense, subject <br /> 5 <br /> however; to the provisions contained herein in the paragraph <br /> A <br /> titled "Insurance. " <br /> 12. Insurance. It shall be the responsibility of <br /> the Lessee to insure the premises for fire and extended <br /> coverage during the term of this lease and to maintain said <br /> insurance on the premises for the term of this lease. In the <br /> event this lease is terminated because of damage by fire or <br /> other casualty as provided herein in the paragraph titled <br /> "Fire or Other Casualty, " the proceeds of such insurance <br /> shall be paid to Lessor and Lessee as their interests shall <br /> S appear. In all other cases of loss by fire, other casualty <br /> or any other cause resulting in insurance claim and payment, <br /> the entire proceeds of such insurance shall be paid to Lessee <br /> • notwithstanding any provision in the insurance policies <br /> • concerning payment. Should Lessor receive any such insurance <br /> payment from the insurance carrier, it shall immediately pay <br /> over or assign over to Lessee any such payment. <br /> 1 <br />