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18. Damage or Destruction. (a) No insured loss or damage <br />by fire or other cause resulting in a partial destruction of the <br />Improvements on the Land shall operate to terminate this Lease, <br />or to relieve or discharge Lessee from the payment of Rent or <br />amounts payable as Rent as they become due and payable, or from <br />the performance and observance of any of the agreements, <br />covenants and conditions herein contained on the part of Lessee <br />to be performed and observed. <br />(b) If the Improvements on the Land are totally or <br />substantially destroyed and such loss or damage is insured, <br />Lessee may at its option, repair, reconstruct or replace such <br />Improvements or elect to terminate this Lease by giving Lessor <br />written notice of termination (the "Termination Notice ") within <br />ninety days after such total or substantial destruction. Subject <br />to subsection 14(g), if Lessee elects not to terminate, Lessee <br />shall diligently and with reasonable dispatch repair, reconstruct <br />or replace the damaged or destroyed Improvements with <br />improvements of equivalent quality, character and quantity. If <br />Lessee elects to terminate this Lease, (i) rental obligations <br />hereunder shall terminate, (ii) Lessee shall apply the insurance <br />proceeds toward any amounts due the Mortgagees under the Mortgage <br />Loan Documents, then to any amounts due hereunder and the <br />balance, if any, to the Lessor, and (iii) immediately thereafter <br />redeliver the Land to Lessor whereupon this Lease shall <br />terminate. The term "substantially destroyed" as used in this <br />Section 18 shall mean destruction resulting in at least a 75% <br />reduction in value of the Land and Improvements. Should Lessor <br />and Lessee for any reason disagree as to whether any destruction <br />of such Improvements is substantial, the matter shall be <br />determined by arbitration in the manner provided in Section 31 <br />hereof. <br />(c) If the Improvements on the Land are partially, <br />substantially or totally damaged or destroyed and such loss, <br />damage or destruction is not fully covered by insurance, Lessee <br />C:GDLEASE.EHI - -25- <br />