Orange County NC Website
17 <br />the minimum annual rent meanwhile shall be abated in whole, except that if at the time of such <br />total destruction there shall be twenty -four months or less remaining of the term of this lease <br />within sixty (60) days after said occurrence either Tenant or Landlord at his option may give <br />written notice that it has elected to terminate this lease, in which event the lease and the tenancy <br />hereby created shall cease as of the date of said occurrence, and the minimum rental and the <br />percentage rental shall be adjusted as of such date. Unless the parties shall otherwise agree in <br />writing, Landlord shall have no interest in the proceeds of any insurance carried by Tenant on <br />Tenant's interest in its lease and Tenant shall have no interest in the proceeds of any insurance <br />carried by Landlord. <br />ARTICLE XII <br />EMINENT DOMAIN <br />If the whole or any substantial part of the Shopping Center shall be taken by eminent <br />domain or in any manner for public use, the Landlord may at its option terminate this lease and <br />the estate hereby granted by giving written notice of such termination to Tenant and upon the <br />giving of such written notice by Landlord the estate hereby granted and all rights of Tenant <br />hereunder shall expire as of the earlier of the date when title to or the right to possession of the <br />Shopping Center or a substantial part thereof shall vest in or be taken by public authority as <br />aforesaid and any rent paid for any period beyond said date shall be repaid to Tenant. Tenant <br />shall not be entitled to any part of any award or payment which may be paid to Landlord or <br />made for Landlord's benefit in connection with such public use and Tenant shall have no claim <br />or rights as against Landlord for the value of any unexpired term of this lease. However, the <br />widening of any street abutting the Shopping Center shall not affect this lease, provided that no <br />part of any building is so taken. <br />ARTICLE XIII <br />ASSIGNMENT AND SUBLETTING <br />Tenant shall not assign of sublet any part of the Demised Premises without the prior <br />written consent of the Landlord, which may be reasonably withheld. The consent of Landlord <br />to any assignment or subletting or other act of Landlord, however, shall not constitute a waiver <br />of the necessity for such consent to any subsequent assignment or subletting; in all events, the <br />Tenant shall remain fully liable and shall not be released from performing any of the terms of <br />this lease. <br />ARTICLE XIV <br />