NYC 9/11 Public Portal Document
immediately preceding paragraph of this Anicle 13.
ARTICLE 14
CONDEMNATION
If the whole of the Demised Premises shall be taken in condemnation, this Lease shall
terminate upon the vesting of title in the condemnor and all rent and other charges paid or payable
by Tenant shall be apportioned as of the date of vesting of title in such condemnation proceeding.
If less than all but more than 30% of the useable area of the Demised Premises shall be
so taken in condemnation, then Tenant may either terminate this Lease as to the remainder of the
premises on ten (10) days written notice to Landlord or remain in possession of the remaining
portion of the premises under all of the terms, conditions and covenants of this Lease, except that
the rent thereafter shall be apportioned and reduced from the date of each such partial taking to
the amount equal to the product of the dollar amount of rent payable on such date and the number
of square feet in the part remaining. The proceeds of any award for partial taking shall be
applied by Landlord to the repair, restoration or replacement of the remaining premises, and if
there be any deficiency, it shall be made up by Landlord, but if there be any surplus, it shall
belong to the Landlord. Said repairs, restoration or replacement of the remaining premises shall
be completed within nine (9) months of the aforesaid taking in condemnation, pursuant to plans
and specifications approved by the Tenant. In the event said repairs, restoration or replacement
are not completed within said nine (9) month period. Tenant, in addition to any other remedy it
may have, may terminate this Lease or perform said repairs, restoration and replacement and
deduct the cost thereof from any rent which may be due and payable under this Lease.
Landlord shall be entitled to receive the entire award in any proceeding with respect to
any taking provided for in this Article without deduction therefrom for any estate vested in
Tenant by this Lease and Tenant shall receive no pan of such award, except as hereinafter
expressly provided in this Article. Tenant hereby expressly assigns to Landlord all of its right,
title and interest in or to every such award. Notwithstanding anything herein to the contrary.
Tenant may, at its sole cost and expense, make an independent claim with the condemning
authority for Tenant's moving expenses, the value of Tenant's fixtures or Tenant's alterations
which do not become part of the Building or property of the Landlord, provided however that
Landlord's award is not thereby reduced or otherwise adversely affected.
ARTICLE 15
DESTRUCnON BY FIRE OR OTHER CASUALTY
(A) If the whole of the Demised Premises is totally destroyed or damaged by fire or
other casualty, or destroyed or damaged to such an extent that they are unsuitable or untenantable
for use for the purpose for which they are leased, then from the date of such damage or
destruction the rent shall cease until such time as Landlord fully repairs and restores the same to
suitable and tenantable condition (excluding Long Lead Work) and Tenant/DRES certifies in
F;\CR\LHC\ 4219.1016\NEWLSE.FNL 32
NYC-WTC_000166964
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