11. Loss and damage to the leased property
11.1 Lessee hereby assumes and shall bear from the commencement of the initial term referred to in Article 2 hereof the entire risk of loss or damage to the Leased Property or any part thereof whatever cause arising (ordinary wear and tear only excepted).
11.2 In the event of any loss or damage to the Leased Property, Lessee, at its cost and expense and at the option of Lessor, shall immediately
11.3 Notwithstanding paragraph (2) of this Article, in the event that the whole of the Leased Property is lost for any reason whatsoever (including damage impossible of repair or in case of any event mentioned in paragraph (2) and paragraph (4) of Article 9 of this agreement and the leased Property cannot be obtained as provided therein) Lessee shall pay to Lessor the stipulated loss value described in item 6 of Schedule as per the stipulated loss value of the year that event take place.