Laserfiche WebLink
21. Condemnati._.i: If any part of the prem—as shall be taken <br />or condemned for public use, and a part thereof remains which is <br />susceptible of occupation hereunder, this lease shall, as to the <br />part taken, terminate as of the date the condemnor acquires <br />possession, and thereafter Lessee shall be required to pay such <br />proportion of the rent for the remaining term as the value of the <br />premises remaining bears to the total value of the premises at the <br />date of condemnation; provided however, that Lessor may at his <br />option, terminate this lease as of the date the condemnor acquires <br />possession. In the event that the demised premises are condemned <br />in whole, or that such portion is condemned that the remainder is <br />not susceptible for use hereunder, this lease shall terminate upon <br />the date upon which the condemnor acquires possession. All sums <br />which may be payable on account of any condemnation shall belong to <br />the Lessor, and Lessee shall not be entitled to any part thereof, <br />provided however, that Lessee shall be entitled to retain any <br />,k <br />amount awarded to him for his trade fixtures or moving expenses. <br />/ All sums which may be payable on account of any condemnation shall <br />belong to the Lessor and Lessee shall not be entitled to any part <br />thereof, provided however, that.r_othing in this section shall be <br />deemed to deprive tenant of any right he may have to compensation <br />for the value of tenant's business, for tenant's removal expenses <br />or for the value of any fixtures or personal property taken from <br />tenant. <br />22. Insolvency: In the event that a receiver shall be <br />appointed to take over the business of the Lessee, or in the event <br />[-7 <br />