A nonconforming structure which is damaged by fire, flood, or act of God to an extent exceeding fifty percent of its fair market value shall not be restored or reconstructed except in such a manner and for such a use as will conform to the regulations for the district in which it is situated. Provided, however, that a nonconforming structure which is a residential structure located in any zone may be restored or reconstructed even if it is one hundred percent destroyed or damaged by fire, flood, or an act of God, provided that the structure does not exceed by more than five percent in square footage or five percent ground coverage the structure which has been destroyed by any such fire, flood or an act of God.