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DocuSign Envelope ID:66F168C2-3C54-4274-9428-4F16B3F1802A <br /> create the same liability on the part of insurer as though separate policies had been written for <br /> Lessee and Lessor. <br /> Lessee will provide Lessor with copies of all policies and renewals of policies. All <br /> policies will also contain endorsements providing that they will not be cancelled, reduced in <br /> amount or coverage, or otherwise modified by the insurance carrier without at least thirty(30) <br /> days' prior written notice to Lessor. Lessor will be entitled to participate in the settlement or <br /> adjustment of any losses covered by the policies of insurance. <br /> 9.4 DAMAGE OR DESTRUCTION: Subject to the insurance provisions of any <br /> declaration of covenants or unit ownership which will control over this lease, if the <br /> Improvements are damaged or destroyed by fire or other casualty, Lessee will promptly restore <br /> the Improvements to their condition preceding the damage and continue to pay the Ground Lease <br /> Fee unless <br /> a. The full repair or restoration is not reasonably practicable or <br /> b. The available insurance proceeds of the insurance policies maintained in <br /> accordance with Section 9.3 are less than eighty percent (80%) of the cost of the repair or <br /> restoration. <br /> In either event, Lessee may terminate this lease after giving Lessor written notice within sixty <br /> (60) days of the loss and allowing Lessor sixty(60) days from the receipt of the notice to either <br /> a. Seek an adjustment from the insurer to increase the amount of insurance proceeds <br /> to cover at least eighty percent (80%) of the cost of the repairs or restoration, or <br /> b. Make arrangements to use the available proceeds to restore or replace the <br /> damaged Improvements with Improvements of reasonably equivalent quality with a floor area of <br /> at least eighty percent(80%) of the damaged Improvements. <br /> If Lessor fails, within sixty days of receipt of Lessee's notice, to give Lessee notice that it <br /> has made arrangements to increase the insurance proceeds or restore or replace the <br /> Improvements as specified above, this Lease will terminate and the proceeds of the insurance <br /> maintained by Lessee will be paid in the following priority: <br /> a. To the payment of the expenses of collection of the proceeds; <br /> b. As may be permitted in any Permitted Mortgage then encumbering the Lessee's <br /> leasehold estate; <br /> C. To the Lessee up to the then applicable Resale Formula Price as of immediately <br /> prior to the casualty calculated pursuant to Article 10. <br /> d. The balance of the proceeds, if any, to Lessor. <br /> 9.5 EMINENT DOMAIN AND PUBLIC DEDICATION: If the entire Leased Premises <br /> are taken by eminent domain, this lease will terminate as of the date the Lessee is required to <br /> surrender possession of the Leased Premises, and the condemnation award will be allocated in <br /> the same manner as a casualty loss as set out in Section 9.4. <br /> If less than the entire Leased Premises are taken, Lessor will in its discretion allocate <br /> some or all of the proceeds to enable Lessee to repair and restore that which may remain thereof <br /> while retaining the balance of the award. If the Lessor determines that the Leased Premises <br /> cannot be restored to a residential use consistent with this Ground Lease, the award will be <br /> distributed in accordance with Section 9.4. The prosecution or defense of any proceedings in <br />