Orange County NC Website
<br />insured by County; County shall also insure any improvements and <br />betterments made by it to the leased premises. to the insurable <br />value thereof. Unless the parties hereto then agree otherwise <br />and as provided in this lease, the proceeds collected upon all <br />such policies of insurance shall be used to repair and/or <br />replace the leased premises, improvements or betterments so <br />damaged or destroyed, and such repairs or replacements shall be <br />prosecuted promptly by both Landlord and County with such <br />insurance funds; and in the event such funds are not adequate, <br />then the deficiency shall be made up by Landlord as to the <br />leased premises as leased. <br />In the event of the total destruction of the building <br />located on the leased premises by fire or other casualty, this <br />lease shall terminate as of the date of such destruction, unless <br />Landlord and County both agree to have the premises rebuilt or <br />restored, during which rebuilding and restoration period County <br />shall be excused from the rental payment. <br />'In the event of partial destruction of the building on the <br />leased premises, rendering it unsuitable for County's business, <br />the parties shall repair and restore the building on 'the leased <br />premises as quickly as practical and during such period of <br />repair and restoration there shall be an abatement to County of <br />the rental amount proportionate to the portion of the floor area <br />of the building on the leased premises rendered unsuitable for <br />County's business. <br />10. Indemnity: County agrees to indemnify Landlord and <br />5 <br />