Agmt25 YMCA-SV Second Amendment - Laserfiche WebLink

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Exhibit D ATTY/AGR/2025/AMEND NO.2 – YMCA MASTER PROJECT AGREEMENT REV: 07-17-25 VR of the full replacement cost of the improvements, then Tenant may elect, by written notice to Landlord within Thirty (30) days from the occurrence of the damage, either: (i) to construct on the YMCA Site YMCA-SV’s then-current prototypical building; (ii) to restore the destroyed improvements to substantially the same condition as they were in immediately before destruction; or (iii) not to restore the improvements. If Tenant elects either clause (i) or (ii) then such construction or restoration shall be subject to then-applicable Governmental Requirements, and Landlord shall not be entitled to any insurance proceeds payable as the result of such damage or destruction. If Tenant elects clause (iii), then Landlord shall be entitled to receive and retain any and all insurance proceeds payable as a result of such damage or destruction, except that Tenant shall be entitled to retain that amount of any insurance proceeds which is attributable to Tenant’s personal property, fixtures and equipment and the unamortized value of the building on Tenant’s books; and except further, if, within Thirty (30) days of Landlord’s receiving the notice of Tenant’s election, Landlord so requires and notifies Tenant, Tenant shall remove any improvements remaining and restore the YMCA Site to grade, in which case the Lease will not terminate until Tenant returns the YMCA Site to Landlord in the condition required and Tenant may also retain from the insurance proceeds the reasonable cost of performing the removal work and restoring the YMCA Site to grade. If Tenant elects clause (iii) and Landlord does not elect to have Tenant remove improvements and grade the YMCA Site, the Lease shall terminate Thirty (30) days after Tenant gives Landlord notice that it will not restore the New YMCA. Page 9 of 50