81-002 Ordinance - Laserfiche WebLink

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#? * • • ? . `°? ? ? 11. Insurance Policies to Remain With Lessee, Said policy or policies of insurance shall remain in the possession of said Lessee, but upon demand said Lessee shall furnish said Lessor from time to time with satisfactory proof that the amount and type of insurance hereby required - is actually being carried by said Lessee upon said _ premises. ' 12. Mortgagee Entitled to Use Insurance Proceeds. Any mortgage of the leasehold interest created hereby shall require the mortgagee to make the proceeds available to the Lessee for reconstruction, and should Lessee fail promptly to repair, restore or rebuild the building or buildings upon said real estate as required in Paragraph 15. below, and Lessor does not undertake to do so, such repairing, restoring or rebuilding may be undertaken by any mortgagee or mortgagees appearing as such upon the mortgage records in the office of the Recorder of the county wherein the demised real estate is located, who shall have notified said Lessor in writing of their mortgage or mortgages. In such event, said mortgagee or mortgagees shall be entitled to use for those purposes any insurance monies which may be available for such uses to the same extent and in the same manner as the Lessee might have done. 13. Delay in Building on Account of Strikes, Etc. If said Lessee should proceed in good faith and with reasonable diligence with the repair, restoration or rebuilding of any building or buildings upon said real estate, under any of the provisions of this lease permitting or requiring such steps, and should be delayed in the progress thereof on account_of any strike, act of God,_ or actions of a public enemy, whereby Lessee shall be unable to procure the, > 9 -