Orange County NC Website
insurance, protect and hold Landlord harmless and shall pay all <br /> costs, expenses and reasonable attorney' s fees incurred or paid by <br /> Landlord in connection with such litigation. <br /> 14 . SUBROGATION. Notwithstanding any other provision <br /> contained in this Lease, each of the parties hereby waives any <br /> rights it may have against the other party on account of any loss <br /> or damage to its property which arises from any risk generally <br /> covered by fire and extended coverage insurance or any other <br /> insurance required to be carried hereunder, whether or not such <br /> other party may have been negligent or at fault in causing such <br /> loss or damage. Each of the parties shall obtain a clause or <br /> endorsement in the policies of such insurance which each party <br /> obtains in connection with the Premises to the effect that the <br /> insurer waives, or shall otherwise be denied, the right of <br /> subrogation against the other party for loss covered by such <br /> insurance . <br /> 15 . DAMAGE TO PREMISES . In the event the Premises are <br /> hereafter damaged or destroyed or rendered partially untenable for <br /> their permitted uses by fire or other casualty insured under the <br /> coverage which Landlord carries, and Landlord' s architect certifies <br /> that the extent of such damage or destruction is less than 209,5 of <br /> the replacement value of the premises immediately prior to the <br /> occurrence of such damage or destruction, then Landlord shall <br /> promptly repair said Premises and restore the same substantially to <br /> the condition in which they were immediately prior to the happening <br /> of such casualty (excluding wall coverings and drapes) . <br /> Notwithstanding any such casualty, until the Premises are so <br /> repaired and restored, rental payments shall not abate and the full <br /> rental reserved herein shall be due and payable. Anything contained <br /> herein to the contrary notwithstanding, in the event that the <br /> Premises shall be damaged or destroyed and Landlord' s architect <br /> shall certify that the extent of such damage or destruction is 2096' <br /> or more of the replacement value thereof immediately prior to the <br /> occurrence of such damage or destruction, Landlord shall have the <br /> option to terminate this Lease by giving notice in writing any time <br /> within ninety (90) days after the occurrence of such casualty. <br /> Unless this Lease is terminated by Landlord, Landlord shall repair <br /> and restore of the Premises, including heating, ventilation and <br /> air conditioning, and Tenant shall repair, refixture and restock <br /> the interior of the Premises, all in a manner and to a condition <br /> equal to that existing prior to the destruction or casualty. After <br /> such damage and destruction, and during any repair or restoration <br /> period in which the Premises are not available, in whole or in <br /> part, for occupancy by Tenant, rental hereunder shall abate <br /> proportionately. <br /> 16 . CONDEMNATION. If any portion of the Premises shall be <br /> taken by the exercise of the power of eminent domain (or sold to <br /> the holder of such power pursuant to a threatened taking) this <br /> Lease shall terminate upon such taking or when such sale is <br /> 5 <br />