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17. Default by Landlord. <br />Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord <br />within twenty (20) days after written notice by Tenant to Landlord and to the holder of any <br />mortgage or deed of trust covering the Leased Premises which describes the default; provided, <br />however, that if the nature of Landlord's obligation is such that more than twenty (20) days are <br />required for performance, then Landlord shall not be in default if Landlord commences <br />performance within such twenty (20) day period and thereafter diligently prosecutes the same to <br />completion. <br />18. Damage or Destruction. <br />18.1 Destruction. <br />If the Leased Premises or the Building in which the Leased Premises are located <br />are destroyed or damaged such that the cost of repair exceeds fifty percent (50%) <br />of the value of the structure before the damage, either party may elect to terminate <br />the Lease as of the date of the damage or destruction by notice given to the other in <br />writing not more than sixty (60) days following the date of damage. If neither party <br />elects to terminate, Landlord shall diligently proceed to restore the Leased <br />Premises to substantially the same or better form as prior to the damage or <br />destruction so as to provide Tenant with useable space equivalent in quantity and <br />character and in the same location as existed prior to the damage or destruction. <br />Tenant shall be responsible for the cost to rebuild any fixtures or improvements not <br />insured under the insurance policy referred to in Section 14,1 unless such damage <br />or destruction was caused or by the gross negligence of Landlord, its agents or <br />employees, or persons under the control or supervision of Landlord, in which event <br />Monthly Base Rent shall abate only to the extent Landlord receives proceeds from <br />Landlord's rental income insurance policy to compensate Landlord for loss of rent. <br />Work shall commence as soon as reasonably possible and thereafter shall proceed <br />without interruption except for work stoppages on account of labor disputes and. <br />matters beyond Landlord's reasonable control. <br />18.2 Rent Abatement. <br />Rent shall be abated during the repair of any damage to the extent the Leased <br />Premises are un-tenantable, except that there shall be no rent abatement where the <br />damage occurred as the result of the negligence of Tenant, its employees, agents <br />or contractors. <br />18.3 Damage Late in Term. <br />If damage or destruction to which Section 18.1 would apply occurs within one year <br />before the end of the then-current Term, either party may elect to terminate the <br />Lease by written notice to the other given within thirty (30) days after the date of the <br />damage. <br />18.4 Express Agreement. <br />Lease Agreement - 14 Ple se Initi <br />andlord Tenant <br />