FIRE CLAUSE. It is mutually agreed that in case of injury to the premises by fire, the Landlord shall cause the damage to be repaired, the rent suspended only for such a time, an only in the proportion, as the premises shall remain untenantable; but if the building be destroyed or so damaged that the Landlord shall, in its sole discretion, decide it is not advisable to repair, this Lease shall cease and terminate and the Tenant shall pay the rent to the time of injury. If the Leased Premises or any other part of the Building is damaged by fire or other casualty resulting from any act or negligence of Tenant or any of Tenant’s agents, employees, or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible for the costs of repair not covered by insurance. Landlord shall maintain fire and extended coverage insurance on the Building and the Leased Premises in such amounts as Landlord shall deem appropriate. Tenant shall be responsible, at its expense, for fire and extended coverage insurance on all of its personal property, including removable trade fixtures, located in the Leased Premises.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement