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to City's cost of procurement of such insurance upon receipt of billing <br />from City for said cost. <br />5. Lessee hereby releases City from all loss covered by Lessee's insurance. <br />D. Damage or Destruction of Improvements <br />In the event that, during the term of this Lease, any of the buildings, <br />structures, facilities and improvements located upon the premises shall be <br />damaged or destroyed by fire or other casualty, the following requirement shall <br />apply: <br />1. In the event of a casualty that occurs prior to completion of <br />construction of any improvements, Lessee shall promptly construct. <br />2. In the event of casualty after completion of construction of the <br />improvements, Lessee with due diligence shall restore the premises to a <br />good and tenantable condition and fit for use by Lessee, subject to <br />provisions and conditions that are hereinafter established. <br />3. In the event of uninsured casualty at any time during the term of this <br />lease in excess of fifty percent (50%) of the then restoration or <br />replacement cost of the improvements, Lessee may, upon giving sixty <br />(60) days prior written notice to City, terminate this lease, in which <br />event Lessee and City shall not have any further obligation under this <br />lease except as may have accrued prior to termination, provided, <br />however, that Lessee shall pay to City the proportion of such restoration <br />or replacement cost that the expired portion of the term of the lease <br />bears to the full term of the lease. To the extent that insurance <br />proceeds are paid to City as the result of a partially insured casualty, the <br />obligation of Lessee to pay restoration costs to City shall be reduced <br />accordingly. <br />4. In the event of casualty that occurs within the last three years of the <br />term of the lease and results in damage or destruction in excess of. (a) <br />in the event of an insured casualty, fifty percent (50%) of the then <br />replacement cost of the improvements; and (b) in the event of an <br />uninsured casualty, not caused in whole or part by Lessee's negligent or <br />wrongful act or omission, twenty five percent (25%) of the then <br />replacement cost of the improvements, Lessee in either case may, upon <br />giving sixty (60) days prior written notice to City, terminate this lease. <br />If Lessee terminates this lease in the event that the casualty occurs <br />during the last three (3) years of the term of the lease, City shall be <br />entitled to all insurance proceeds except for insurance proceeds covering <br />damaged fixtures and furnishings which Lessee is permitted to remove <br />upon termination of this lease. In the event of termination of this lease, <br />as provided in this paragraph, Lessee and City shall not have any further <br />obligation under this Lease except as may have accrued prior to <br />termination. In case of damage or destruction except as indicated <br />above by termination, there shall be no abatement or reduction of <br />24 <br />