English to Russian Other Law: Contract(s) Loan of UAV

In the event of loss, damage or destruction the Borrower at the lender's sole option shall:
a) repair the damaged Equipment; or
b) replace the lost or unrepairable Equipment; or
c) pay to the Lender the full replacement value of the Equipment.
Upon the Lender's receipt of the replacement Equipment or payment as provided in (b) or (c) hereof, the Borrower shall be entitled to Lender's interest in the said item for salvage purposes, in its then condition and location, without warranty, express or implied, subject to the terms of the insurance policy or certificate of insurance specified in Asticle 8 below.