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". ARTICLE VII <br />Damage, Destruction and Condemnation <br />Section 7.1. Damage and Destruction. Unless the <br />Lessee shall have exercised its option to purchase pursuant <br />to the provisions of Section 11.2(a) hereof, if prior to <br />full payment of the Bonds (or provision for payment thereof <br />having been made in accordance with the provisions of the <br />Indenture) the Project is destroyed (in whole or in part) or <br />is damaged by fire or other casualty to such extent that the <br />claim for loss under the insurance policies required to be <br />carried pursuant to Section 6.3(a) and (b) hereof resulting <br />from such destruction or damage is not greater than $100,000, <br />the Lessee, or the Lessor, at the Lessee's direction and <br />expense, (i) will promptly repair, rebuild or restore the <br />property damaged or destroyed to substantially the same <br />condition as it existed prior to the event causing such <br />damage or destruction, with such changes, alterations and <br />modifications (including the substitution and addition of <br />other property) as may be desired by the Lessee and as will <br />not impair productive capacity or the character of the <br />Project as a manufacturing and distribution plant, and (ii) <br />will apply for such purpose so much as may be necessary of <br />any Net Proceeds of insurance resulting from such claims for <br />losses, as well as any additional moneys of the Lessee <br />necessary therefor. All Net Proceeds of insurance resulting <br />from such claims for losses not in excess of $100,000 shall <br />be paid to the Lessee. <br />Unless the Lessee shall have exercised its option to <br />purchase pursuant to the provisions of Section 11:2(a) <br />hereof, if prior to full payment of the Bonds (cr.provision <br />for payment thereof having been made in accordance with the <br />provisions of the Indenture) the Project is destroyed (in <br />whole or in part) or is damaged by fire or other casualty to <br />such extent that the claim for loss under the insurance <br />policies required to be carried pursuant to Section 6.3(a) <br />and (b) hereof resulting from such destruction or damage is <br />in excess of $100,000, the Lessee shall promptly give written <br />notice thereof to the Trustee. <br />All Net Proceeds of insurance resulting from such <br />claims for losses in excess of $100,000 shall be paid to and <br />held by the Trustee in a separate trust account, whereupon <br />(i) the Lessee, or the Lessor, at the Lessee's direction, <br />will proceed promptly to repair, rebuild or restore the <br />property damaged or destroyed to substantially the same <br />condition as it existed prior to the event causing such <br />damage or destruction, with such changes, alterations and <br />VII-1 <br />