Orange County NC Website
too530 pAct 127 <br /> improvements shall be deemed leasehold improvements and shall <br /> be the property of the Lessee. Any additional ad valorem <br /> taxes resulting from any such permanent improvements shall be <br /> the responsibility of the Lessee. <br /> 10. Assignment. This lease shall not be <br /> transferred or assigned. Lessee may sublet all or any part <br /> of the premises and shall have no obligation, to notify Lessor <br /> of any such sublease. <br /> 11. Fire or Other Casualty. Should the main <br /> E building (formerly housing a supermarket) on the premises be <br /> A <br /> damaged by fire or other casualty, and that building become <br /> untenantable either in whole or in part, Lessee at its option <br /> 0 exercisable by delivery of written notice to Lessor within <br /> thirty (30) days after the occurrence of such damage may <br /> 0 <br /> elect to repair or rebuild it. If this option is exercised <br /> such repairs or rebuilding shall be commenced and completed <br /> with reasonable dispatch, and the rent shall be abated during <br /> 2 the time, and to the extent to which the premises shall be <br /> untenantable. Provided, however, that in the event the <br /> 8 damage is caused by the negligent acts of the Lessee, its <br /> agents or employees, then there shall be no rent abatement. <br /> In the event Lessee exercises its option to rebuild, it shall <br /> do so at its own expense, subject however, to the provisions <br /> contained herein in the paragraph titled °Insurance." In the <br /> event Lessee does not exercise its option to repair or <br /> rein ld the main building, then this Lease shall terminate as <br /> 6 <br />