Housing Consortium of the East Bay Ground Lease 20231030

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33 Section 13.1 Damage or Destruction to Leased Premises. Lessee shall give prompt written notice to Lessor after the occurrence of any material fire, earthquake, act of God or other casualty to or in connection with the Leased Premises, the Improvements or any portion thereof (hereinafter sometimes referred to as "Casualty"). Subject to Section 13.2 below, if during the Term the Improvements shall be damaged or destroyed by Casualty, Lessee shall repair or restore the Improvements, so long as Lessee determines, in its sole discretion, that it is feasible to do so and in such event Lessee provides or causes to be provided sufficient additional funds which, when added to such insurance proceeds, will fully effect such repair or restoration. Upon the occurrence of any such Casualty, Lessee, promptly and with all due diligence, shall apply for and collect all applicable insurance proceeds recoverable with respect to such Casualty. In the event that Lessee shall determine, by notice to Lessor given within thirty (30) days after receipt by Lessee of any such insurance proceeds, that it is not economically practical to restore the Improvements and/or the Leased Premises to substantially the same condition in which they existed prior to the occurrence of such Casualty, then Lessee may terminate this Ground Lease as of a date that is not fewer than thirty (30) days after the date of such notice. If Lessee terminates this Ground Lease pursuant to this Section 13.1, Lessee shall surrender possession of the Leased Premises to Lessor immediately and assign to Lessor (or, if same has already been received by Lessee, pay to Lessor) all of its right, title and interest in and to the proceeds from Lessee's insurance upon the Leased Premises, as referenced in Section 13.2 below. Section 13.2 Distribution of Insurance Proceeds. In the event that this Ground Lease is terminated pursuant to Section 11.1 hereof, the insurance proceeds received as the result of such Casualty shall be distributed as follows: (a) first, such insurance proceeds shall be paid to Lessee or, (b) as applicable pursuant to Section 11.1 above, assigned or paid over to Lessor. Section 13.3 Insurance Requirements. Nothing in this Article 11 does or shall be construed as permitting Lessee to maintain less than the minimum insurance requirements set forth in this Ground Lease. ARTICLE 14. EVENTS OF DEFAULT Section 14.1 Events of Lessee Default. Each of the following shall be an "Event of Default" by Lessee hereunder: (a) failure by Lessee to pay any Rent or Additional Rent when due if such failure shall continue for a period of thirty (30) days after notice thereof has been given by Lessor to Lessee; (b) Lessee's default in the performance of any term, provision or covenant under this Ground Lease (other than an obligation enumerated in this Section 14.1), and unless such provision specifies a shorter cure period for such default, the continuation of such default for thirty (30) days in the event of a monetary default or sixty (60) days in the event of a non- monetary default following the date upon which Lessor shall have given written notice of the default to Lessee, or if the nature of any such non-monetary default is such that it cannot be DocuSign Envelope ID: 6E2EA799-6D74-41E3-B3EE-3CD67DC0ACD0