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<br /> ^ shall not pxovide for any deductible aie�unt not approved in .
<br /> I writing by Beneficiary, shall provide that any losses shall be
<br /> gayab3e netwithstanding any act cr neg��gence of Grantor, shall
<br /> provide that no cancellation thereaf shall be effective until at
<br /> least thirty da�s after rece�pt by Granta�r and Beneficiary of
<br /> written notice thereof, and shall be sat3.sfactory to Beneficiary
<br /> � in all otber respects. Upan the execution Qf thzs indenture and �
<br /> thereafter not less than 15 dapa gri�r to the eagiration date of
<br /> any po2fcy delivered gursuant to �this instrument, Gran�or will
<br /> deliver to Heneficiary orfginals of any policy or renewal policy,
<br /> as the case taap be, requ�red by this instrument, bearing
<br /> notations evidencinq the payment of all premiums. In the event
<br /> of foseclosure, Grantor authorizes and empowers Heneficiary to
<br /> e€fect insurartc� u�c��- the �.ertgaged Premises in amounts aforesaid `
<br /> .. for a perfgd �o�ez�.�zg tla� �i.�ne of redemption from foreclosure �
<br /> ,: .;; � �sale provid�d •i�y �awg an� �� necessary therefor to cance2 any or
<br /> " .; �: all eacisting �insurance policies.
<br /> � � 9. Dantage to os Destruction of Mortgaged Premises.
<br /> (a) Notice. In case of any� material damage to or
<br /> �� � destruetion of the Mort+qaq�d gremises or any part
<br /> , thereof, Grantor shall promgtiy give written notice
<br /> thereof to �BeneficiarisE generaZ3y d�scribing the r.�ture
<br /> and extent of sucl��d�..�:age or c��s�.:uct��sn. .
<br /> tb) Resto�ation. In ca�� c� �:�y d�a,ge to or
<br /> destruction o. the Mortgaged �remises or any part �
<br /> � thereof, Grantor, provided that Beneficiary has made
<br /> available to Grantor (subject to the provisions of
<br /> Section 9(d) hereof) insurance proceeds, if any,
<br /> received by Heneficiary in connection with such damages
<br /> or destruction, and whether or not the insurance .
<br /> procee�s, if any, received on acceunt of such damage or
<br /> destruction ahall be sufficient for �he purpose, at
<br />� Grantor's expense, will pro:�p��� ca:..mence and complete � .
<br /> �subject to unavoidable dela�� oc�asioned by strikes, �. `-
<br /> � lockouts, acts of God, inability t� c�btain labor ar —
<br /> matera��s, governmental restrictierr: and similar causes
<br /> beyond the reasonable controZ of Grantor} the �•..�
<br /> �estoration, seplacement or �ebuilding of the Mortgaged �
<br /> Premises as nearly as possii�I� *o its value, condition :;, +•
<br /> and cha�acter immediaeely pricr to �crch damage or ,
<br /> destruc�ion. ,�
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<br /> (c) Ad�ustment of Losso Grantor hereby � �
<br /> authorizes Benefic ary, at Beneficiary's option, to
<br /> ad�uat and compromise any losses und�r any insurance
<br /> afforded, but unless 8eneficiary elects to adjust the
<br /> , losses as aforesaid, said ad;ustment and/or compramise
<br /> � shall be made by Grantor, subject t� final approval of
<br /> Heneficiary in the case of losses �rceeding $200,000.
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