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CITY-OF-BATESVILLE
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675
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4/30/2019 1:37:32 PM
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Page 4 <br />6.(a) If the structural portion of the main industrial <br />building situated upon the leased premises shall be totally de- <br />stroyed by fire, flood, windstorm or other casualty or sub- <br />stanti.ally destroyed to the extent that it shall be rendered un - <br />tenantable for occupancy by the Lessee, then the Lessee shall have <br />the right to terminate this lease upon written notice to the <br />Lessor, and the total amount collected under any and all policies <br />of insurance covering such casualty (other than policies of in- <br />surance with respect to property owned by the Lessee) shall be <br />paid to the Lessor. <br />(b) If the Lessee elects not to terminate this lease as <br />hereinbefore permitted by subsection (a) or if any of the build- <br />ings or improvements on the leased premises or any of the machinery <br />and equipment located therein owned by the Lessor shall be damaged <br />or partially destroyed by fire, flood, windstorm or other casualty, <br />there shall be no abatement or reduction in the rent payable by <br />the Lessee to the Lessor, all policies of insurance covering <br />such casualty shall be paid to the Lessee, and the Lessee shall <br />repair and restore such damages. Such restoration or repairs <br />may be made in a manner so as to make the facilities more useful. <br />Notwithstanding the foregoing provisions of this paragraph 6 <br />Lessee shall not be required to repair, restore, replace or re- <br />build if Lessee, pursuant to the provisions of paragraph 11, <br />shall proceed to exercise Lessee's option to purchase set forth <br />in said paragraph 11 within thirty (30) days after the leased <br />premises shall be so damaged or destroyed and shall pay the <br />purchase price required by said paragraph 11. In the event <br />Lessee exercises its option to purchase and pays the required <br />purchase price, proceeds of any insurance shall be paid and <br />delivered to the Lessee. <br />7. (a) If the leased premises, or any part thereof, <br />shall be appropriated and taken for any public use by virtue <br />of eminent domain or condemnation proceedings or if by reason <br />of any law or ordinance the use of the leased premises by <br />
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