ARTICLE XVIII - DAMAGE BY FIRE 18.0 In the event of the destruction of the building in which the demised premises are located by fire, explosion, the elements, or other casualty during the term of the Lease, the Landlord, at its sole expense shall properly restore the leased property as nearly as possible to its condition prior to such damage or destruction, provided that the cost of repairs are covered by insurance. The restoration work shall commence without delay after receipt of insurance proceeds. All insurance proceeds received by the Landlord or mortgagee pursuant to the provisions of this Lease shall be applied to the payment of such restoration as such restoration progresses, and any mortgage to which this Lease shall be subordinate shall so provide. 18.1 There shall be no abatement or reduction of Fixed Rent, Additional Rent, or other sums payable by the Tenant hereunder by reason of any such damage or destruction to the building or any part thereof on the leased premises, or by reason of any repair, replacement, restoration or re-building, nor shall the Tenant be entitled to surrender possession of the leased premises, to terminate this Lease, or to violate any of its provisions on account thereof. This is applicable only during a period of renovations, not to exceed Ninety (90) days.
Question: in this landlord/tennant commerical lease. Does the tanant have to pay any rent due at all if everything was 90% destroyed by fire and rebuilding is taking over 1 year.
Landlord and landlords insurance company want tennant to pay 90days worth of rent. What do you think?
Question: in this landlord/tennant commerical lease. Does the tanant have to pay any rent due at all if everything was 90% destroyed by fire and rebuilding is taking over 1 year.
Landlord and landlords insurance company want tennant to pay 90days worth of rent. What do you think?
