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<br />In the event that the Premises or the building of which the Premises are a part are <br />damaged by fire or other perils covered by extended coverage insurance, Landlord agrees <br />to forthwith repair the same; and this Lease shall remain in full force and effect, except <br />that Tenant shall be entitled to a proportionate reduction, to be based upon the extent to <br />which the making of such repair shall materially interfere with the business carried on by <br />the Tenant in the Premises. <br /> <br />In the event that the Premises or the building of which the Premises are a part are <br />damaged as a result of any cause other than the perils covered by fire and extended <br />coverage insurance, then Landlord shall repair the same, provided the extent of the <br />destruction be less than ten percent (10%) of the then full replacement cost of the <br />Premises or the building of which the Premises are a part. In the event the destruction of <br />the Premises or the building is greater than ten percent (10%) ofthe full replacement cost, <br />then Landlord shall have the option: (1) to repair or restore such damage, this Lease <br />continuing in full force and effect, but the rent to be proportionately reduced as <br />hereinabove in this article provided; or (2) give notice to Tenant within sixty days (60) of <br />the damage, at which time this Lease shall expire and all interests ofthe Tenant in the <br />Premises shall terminate on the date so specified in such notice and the rent, reduced by a <br />proportionate amount based upon the extent, if any, to which such damage materially <br />interfered with the business carried on by the Tenant in the Premises, shall be paid up to <br />the date of such termination. <br /> <br />The Tenant shall not be entitled to any compensation or damages from Landlord for loss <br />ofthe use of the whole or any part ofthe Premises, Tenant's personal property, or any <br />inconvenience or annoyance occasioned by such damage, repair, reconstruction, or <br />restoration. <br /> <br />15. <br /> <br />LIABILITY INSURANCE. <br /> <br />Tenant at its sole cost and expense shall maintain during the term of this Lease <br />public liability and property damage insurance with a single combined liability limit of five <br />hundred thousand ($500 000.00) dollars and property damage limits of not less than one <br />hundred thousand ($100 000.00) dollars, insuring against all liability of Tenant and its <br />authorized representatives arising out of and in connection with Tenant's use or occupancy <br />of the Premises. Both public liability insurance and property damage insurance shall insure <br />performance by Tenant of the indemnity provisions in Sub-paragraph (d) below, but the <br />limits of such insurance shall not, however, limit the liability of Tenant hereunder. Both <br />Landlord and Tenant shall be named as additional insureds and the policies shall contain <br />cross-liability endorsements. If Tenant shall fail to procure and maintain such insurance, <br />the Landlord may but shall not be required to procure and maintain same at the expense of <br />Tenant and the cost thereof together with interest thereon at the rate of ten (10%) percent <br />per annum shall become due and payable as additional rental to Landlord together with <br />Tenant s next rental installment. <br /> <br />16. DEFAULT, REMEDIES. <br /> <br />A. Default. The occurrence of anyone or more of the following events shall constitute a <br />default under this Lease by Tenant: <br /> <br />4 <br />