COM 0726.001 2006-2008 - Laserfiche WebLink

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wastes, toxic substances, and any and all other substances or materials defined as or included in the definition of "Hazazdous Substances", "Hazardous Wastes", "Hazardous Materials" or "Toxic Substances" under or for the purposes of the Hazardous Materials Laws. If Lessee fails to comply with the provisions of this paragraph prior to the expiration or the earlier termination of the Term, or prior to Lessee's vacating the Premises, then upon the expiration or the eazlier termination of the Lease Term or Lessee's vacation of the Premises, Lessor shall have the option either to consider this Lease as having ended or to treat Lessee as a holdover Lessee in possession of the Premises. However, Lessee will still be responsible for any hazardous materials or contamination created during their tenancy, regazdless of whether the lease has been terminated or expired. ARTICLE XV DESTRUCTION OF OR DAMAGE TO BUILDINGS Section 15.01. Repairs by Lessor. If the Premises or any portion of the building in which the Premises aze located should be damaged or destroyed during the Term hereof by any casualty insured under the standard fire and extended coverage insurance policies, or should such building be damaged to an extent less than twenty-five percent (25 percent) of the then tax assessed value thereof by any other casualty, Lessor, subject to any delay for inability from causes beyond Lessor's control, shall repair and/or rebuild to the same substantial condition in which the same were immediately prior to such damage or destruction. Section 15.02. Non-insured Casualty. If the building in which the Premises aze located should be damaged or destroyed by a casualty not insurable under the standard fire and extended coverage policies to the extent of twenty-five percent (25 percent) or more of the then tax assessed value thereof, then Lessor may either terminate this Lease or elect to repair or restore the damage or destruction, in which latter event Lessor shall repair and/or rebuild the same as provided in section 15.01. Lessor shall advise Lessee in writing whether Lessor intends to rebuild or repair within thirty (30) days after such casualty. If Lessor elects not to repair or rebuild, this Lease shall terminate without further notice, in which event all further obligations of either party shall cease, effective as of the date Lessee shall cease business in the Premises. If such damage or destruction occurs and this Lease is not so terminated by Lessor, this Lease shall remain in full force and effect and the parties waive the provisions of any law to the contrary. Lessor's obligations under this paragraph shall in no event exceed the scope of the work to be done by Lessor in the original construction of said building and the Premises. Section 15.03. Continuation of Business. Lessee agrees during any period of reconstruction or repair of the Premises and/or of said building, to continue the operation of its business in the Premises to the extent reasonably practicable from the standpoint of good business. Section 15.04. Repairs by Lessee. Lessee shall, in the event of any damage or destruction affecting the Premises, unless this Lease shall be terminated as provided in section 15.02, forthwith replace or fully repair all plate glass, exterior signs, trade fixtures, equipment, display cases, and other installations originally installed by Lessee. Lessor shall have no interest 15