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'y' "t2'.;' .�3'-1`il�.^lF•ft�v7[F74Y►... _` <br /> sn�Vt. � _ . � � :. ,,• M'�if.`�tt�.t�i�".+`�!`C�i�'A�^��ti j `if•L�' 'i,�T� . . , . - p 1}�4k.�.�l�i ,_._-3,. . . — <br />-.1- , r� �� '. � . -•a�, .r1'� 1�(i��,•-;�rr �} :.:.: . . . . ' � .. �, ,�j y'�r -- -- <br /> 'yt�.'.'S+`�r:. . ' ' ."yi`�����s��.Pal,i-.R{�+.d,7� .. - _ t f rA.. . '.. _ .. <br /> r .�eiS� fdil`.�.,._ :.1.IL..�.�.N.!`a�� <br /> � , . .. .--_.--- -- <br />.r... ._...4 .. .. :. . . .. .� � '�Sqy :.....�- � , ,...o� <br /> . ��.�- . . �. ,.xr:.�}.id...iiv,�iin�.o<<... - . ..z i ..,... .—__,-�� �--;�-- <br /> .� .. ., .,-.•...,.t•... .....��.. ...� . . . <br /> ..+fi+p.s. ..... . � ...-_ -._ _.. <br /> . . .. . . � ..�... . .. .... .. . . _ .. _ ` <br />::_{. .. -.� .. <br /> '"�:� <br /> =:�:�w'FI"'.�. <br /> .f�"Jt'1�.t <br /> �a[+: " <br />��"`� �` S. It is mutually agraed that: <br /> -- � g'T- �1433� <br /> �^.f,�� 1. Application ot Insurance or Condemnatlon Proceeds. All sums paid under any <br />� �'� insurance poltcy or condemnadon award shall be paid to the &neficiary. Beneficiary agrees to <br /> . - ... <br /> `� 'f""' allow the use af sums paid for rcpair and reconstruction af the Property provided: <br /> _ ';�,a;. <br /> _.:ri�"���` <br /> �°�''���� (a) there exists no default or other event which with the passing of titme or the giving of <br /> --:,��<_�.•�� <br />_.:��,�� notice or both would constitute a default under the Note or tbis lleed of Trust; <br />_ -==�`°�;' (b) all proceeds end addidonal€unds c�eposited by the Trustor with Beaeficiary prior to <br />�,�;�;_M���; the c.ommencement of any repair or reconstruction are adequate,as determined by <br /> Beneficiary,to complete repair and reconstruction of the Property pursuant to plans <br /> ''U��` and specifications appruved by Beneficiary; <br />_=-;:j� <br />.'Y`:�.r�V�}tS� <br /> (c) if,in Beneficiary's determinadon,the loan to value rado, upon completion of repair <br /> ..�:iJr,s�; <br /> ,:,.;,i� or restoradon,w1U exceed seventy-five percent (759b),the balance due on the Note <br />-=:;:�;:'� shall be red�uced to an amount which, reduas the loaa to value zatio, as calculated <br />����:?:�_ by Beneficiary� to no more than sevenry-five percent(759b). Ia such a case, the <br />-�_�:"�s�'• ' remaining monthly payments of principal and interest may be adjusted to amortize <br /> W,.'cE�_- . <br /> Y-�'�"-:-- the:edur.ed pr3acig�.1 b�anc�aver tbe remaining terrn af the I.a�n, at L'eB�fici:ry's <br />`��'�-�'''� ` discretion. An amount re aid under this ravision ma be aid without a <br /> _���;� Y P P P Y P <br /> -"'�'"`';� prepayment chazge, provided howe�rer, any addidonal amount Trustor desires to <br /> `��w"`�'°� re a , if an . shall be sub ect to a licable re a ent char es. <br />_�:.;:;�,,:s,,. P F Y Y .1 PP P P Y� � <br />�_ _o. ,wti�r� <br /> i_ v�.s. <br /> _=°`� y (d) disbursement procedures acceptable to Beneficiary are in place; <br />��`� .c <br />._�.,,..�--f�,,. _ <br /> ,..�.K� (e) Beneficiary shall have received acceptable estoppels,consents and assurances fram <br />��=�,��__;�� municipal authorities, tenants in the Property, and others, as Beneficiary may <br /> ;r<_��r_s�� , requ�st; and <br />�=-�;:� <br /> `'�-"-��� (fl Beneficiary has receiveci evidence satisfactory to it,tbat reconstrucrion and/or repair <br />_,:.: ,r...r <br /> -_ � _ can be completed at least three(3)months prior to the date the Note secured by this <br />_ �:�� �c�ti af Trust is due and paya�,te. <br /> �_�.;";��. <br /> -•�•�;-,: <br />_��-�� If the above conditions are not sadsfied as to th� application of the proceeds or any awazds, <br /> :,Y"',�``��- Beneficiary shall apply the same(after first deducting therefrom Beneficiary's reasonable expenses <br />-;"'`�"�''��� incuned in collecting the same, including but not lunited to reasonable attorneys' fees) to the <br />- `� '���• reduction of the outstanding principal balance �f the Loan (the "Principal Balance") without a <br /> „ prepayment charge or to payment of the restoration, repair, replacernent or rebuilding of the <br /> property that is darnagetl, destroyed or taken in such ma�er as B�eneficiary may determine. = <br /> I <br /> � Dcod of 1tusG Assfgnmrnt ot Retit�,Security Agreement u�d Fixture Filing(NB-9r97) ; <br /> PAGH I1 <br /> P:ICLOSING\ABSNDIKIDOCS\19971PAZOLI'S\97042314\DOT.W P6 <br /> { <br /> _-� <br /> _� , <br /> � •r: , . .. . . .. .. .. .... . . _ ... . . . . � . ,� __...:- <br /> i , <br />