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<br /> � ` �O���n
<br /> 1.1�.2 Notwithstandinq the pzovisions of �Section
<br /> 1.11.1, Mortqaqor shall have the riqht to q�rant ar aonvey, €ree o€
<br /> the I.�en of this Kortqaqe, easement os riqht of way interests ia =__ _ __ _—_
<br /> - the I�iortqaqed ,Propes^t� to . any ra�.]soad. telephone ot utility .
<br /> - company,, munic:palit�� ar other governmental subdivision €or the
<br /> limited purpose of .psovidinq rail, telepbon� or utility services
<br /> to the Premises or increasin� eatistinq rail, telephone or util�ty
<br /> services available to the Premises or providfng or i.mptovfnq acdes6 ,
<br /> to the Impz�s*tements if, after � givinq e�fect to such proposed
<br /> release and tt�e grant oL .the ir►terest in the Mo=tqaqed Fzaperty
<br /> proposed to be �eleased, the value,. utilit�- ancl s n�axketalaility� of
<br /> the ,Mortgaged•:,Praper�y would not be less than t�t�:''value., �utili�y
<br /> and marketahility� thereoE ,prior�� to su�k� proposed release at�:� _ :
<br /> Mortqaqor sh.3t1 have deliYered� to MortqaqPe a certffi�ate of the
<br /> � � officer of I�vr�gaqos to sucti..effeat, accom anied� by a �PY .
<br /> . „ � ; _ instrument proposect: to evidence such grant or conveyance.
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<br /> SEC'1�ZON 1.12 . Destruction: Condemnation.
<br /> . 1.12�.1 . Destruction: Insurance Proceeds: � In case
<br /> of anp dasac�e .to,: �r.:loss or destiKiction of, th� �m��n� �d .
<br /> Person�I Pr�perty Qr any part �r.�eof (each, a ;�' estruction"� . . :
<br /> Mortqagor �b�a13 promptly s�rtd to I�ort,qagee a noti�� settfnq forth
<br /> the nature and extent og -�ch �estruetion. The preceeds of any
<br /> � insuranae payable in ra�gect of such. Destruction are hereby �
<br /> assigned and shall be pa�c� to Mortgaqee. If these has occurred an ;
<br /> Event of Default, Mortqaq�e is hereby authorized and empowered. by ; . .
<br /> � �Kortgaqor to settle, adjust or compromise any claims for such
<br /> da�aqe or destruction. Al1 such proeeeds, less the ammaunt of any _
<br /> exgzz�aees incurr i � =i igatin ut of i suchn�o.�struction in(Net : ' `
<br /> sett�.ing any 9 �-�
<br /> , Proceeds") , shall be applied as set forth in Se c t ions Z.1 2.3 a n d - .:.�,,�
<br /> 1.12.4 hereaE. '��
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<br /> , 1.12.2 C�e ndemnatia�• Assiemment� mf Awarc�. In the �
<br /> event �c�f an�r .taking af the Mortgaa�� Property or any part thereuf, � s
<br /> � in or T�y condemnaticn or ottzer eminent dciaain proceedings pursuant ,
<br /> te any law, qeneral or �p�cial, or by reason of the temporary 4 �: �
<br /> � � � , requi�ation �f the use or a�cupancy o� the Mortgaged Property or �;
<br /> � any part hereof, by any go�ernmental authorityd �ivil or military .:�.
<br /> (eac'h, a "Taking"y , Mortgagor shall immediate�Z� notffy Mortgaqee ; y
<br /> • upon zeceivinq notice of suc� Takfnq or cctm�:ncement of proceeciings
<br /> ' therefor. If there has occurred an Even� mE Default, Mortgaqee is
<br /> . hereby authorized and empowered b� Mortqaqor to settle, adjust or
<br /> ... compromise any claims for the proc�eds in re�p�c� of any Taking. ,. .
<br /> � All praceeds or any award or payment in �espect oP any Taking are
<br /> �� -� � � � hereby assigned-and shall be-paid-to-Mortgaqee_and_Mortgagor_.shall.
<br /> take all steps necessary to notify the corrdemnfng authority of such � � ���� � �
<br /> asaiqnment. Such award or payment, less the amount of any expenses
<br /> incurred in lftigatinq, arbftratinq, compromisinq or settlfng any
<br /> cZaim arising out of such Taking ("Net Award") , shall be applied ,
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