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<br /> � satisfactory to Mortqagee as shown in its most recen�C available
<br /> statement of financ�al condition, and (bj shall be in the .amount�
<br /> not less than the.E�timate minus the amount of the Net Proceeds or
<br /> the Net Award, as the ca.�e-:.may be; tliei�: held by Mortgaqee for
<br /> - . application.toward �the aa,a���o€ snch Res�o�ation. -
<br /> rSoactc�ac�ee s1ia11 have the righ� to review and approve: ... '
<br /> the Plans and Specificatio�. Promptly uga� approval' of t.h.e Plaus� '��:
<br /> � and Specif ications by Mo�Cgaqee, Mortqa�r, shall com�ence aatc� '
<br /> dfliqently continue �o perform the Restora�tri�n i�.accor�ance witic�
<br /> � such ap�roved Plans and Specificatians. ` -. ,� -, �
<br /> � _ . __- 1.12.4 . Restoration Advai�c�-��a��a:��aq IT�trnat�a� -.. �: :�:=.:.
<br /> , or Takina of Mortqag+e�_Frcuertv. � the �n� �e.Net �?rcxceeds az �,, � � :
<br /> � Net A��.trd are used far Restoratfon as pr�s�ed'iue ��ecti�is 1.1���F��.
<br /> .�� Mortga�ee shall apgly the Net Proceeds or �Che PT�t Awasdr� :hela�;:��`
<br /> � Mortg�qee on accoun� of any Destruction or Taking to th�� payba��
<br /> . of the cost of any Aestaratian and shall Fay portions of,tl�e same,
<br /> �•'" f�om time to time: to Mortgagor. -.or, at Mortqagee's �.`�i�tion, �
<br /> exercised from tiace to time, directly to the contractQrs,
<br /> subcontractors, materialmen, laborers; . engineers, architects, and
<br /> other persons rendering services or material for such Restoratfon,
<br /> subject to the following conditions:
<br /> (i) Mortqaqor sh�23-��provide Mortgagee wfth a � '
<br /> request setting forth the amount ta �ie paid and to whom payment is �
<br /> � to be made five (5) business days prior to the date such payment
<br /> fa to be made and each such request for payment shall be
<br /> accompanied by an Architect•s Cert3.ficate statinq (aj that all the � �
<br /> Restoratfon work then completed has been done substantfa2ly in ; � �
<br /> compliance with the approved Plans and Specificatians and in
<br /> accordance with all provisions of law, (b) the sums requested are ;
<br /> reqnfred to refmburse Mortqagor for payncents by Mortqaqoz to, or � �
<br /> � are due to, tlie contractors, subcontractors, materialmen, labo�ers, !��'.�+
<br /> engineera, archftects, or other p�rs�ns rendering services or ; ��
<br /> • materials for `the Re'storation, and .t.�atp when added to the sums, �
<br />• if� any, previously paid out by Mortgageeff . such sums do not exceed
<br /> the cost of the Restoration to #�e date of such Architect�s
<br /> Certificate, (cj whether or not �he Estimate contfnu�s to be � '.
<br /> accurate, and if not, what the en���e cost of such Res�oration is ' -� �
<br /> then estimated to be, and (d) unless Mortgaqee reaefved a surety, �:;�
<br /> . guarantee, Letter of Credit a� Com2nitment� as referred tQ � Section
<br />� � 1.12.3 that the ataount of� the Net Proceeds or Net Awatd, as the �'
<br /> , case �ay be, remaining after giving ePfect to suc� payment will be '�
<br /> • � suf�i�xent on completion oS the Restoration to g�ay Por �1�e
<br /> ' same ia PuLZ (giving in reasonable detai�r an estfmate by� trade of
<br /> ti�e remafni�g costs of cQ�letion) ; .
<br /> �- ' - -- � -(�ia� -Each request��or �payment s�aZl be-accompanied�
<br /> by an Opinion of Counsel, or_ by a .tftle comm�tment wfth such
<br /> coveraqes a�° Mortgaqee may require issue�i by a title insurer
<br /> �„ acceptable 'to Mortgagee, stating that (a) a11 Lfens covering that
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