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<br /> � •'�a1569�
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<br /> � � part af the Restaration previously paid for, if art��,,' have been
<br /> - � waived and (b) �there haa not been filec� witts respect. tc► a12 or any
<br /> parts of the Mortgaqed Property any Lien, not discharqed of record,
<br /> in respect of any part of the Restoration; and-
<br /> (iiij The final reqnest for ainy paym�ret after the
<br /> � Restaration has been completed �shal2 be .accompanied by an opinion
<br /> af Counsel listinq all certificates, permit��, ;licenses, waivers,
<br /> ott:er dcc�uaents, or any aombinati�a of t1�e f�r�qofuq requir�d by
<br /> law in cmrFaection with ar as a resta]:t o�� se�c�• Restoration and
<br /> � statinq t�at all of the same have be�: el�tafned,- �
<br /> � � In tI�e event tfiere �sliali be .any surplus after `:: �
<br /> • ; ;` applicatida of the Net Award or the Ne� proceec3s to Restcration o� ' . -' ..'` `' ,
<br /> � . . the Prem�s�s, such susplt�:�shall belonc,�:and be paid td �tortgaqee, '.: �
<br /> . to be creaited aqairgst th�� �mcu��s, outr�#anding in r�speet of any . � .
<br /> � . - Loans iz� accorda�ce with- th�.:applicable provisions of the Loan •
<br /> • .. . Ag=eemeia�: , . . ,_ . . _ ..
<br /> .�' �� 1.12:5 `�rtteres�tr � For- �s� long as Mortgagee, shall
<br /> � . � . . �e �n .�����ssioa .o€ any.,2��t Awa.re� or 1'�e�: Preceeds, the same shall
<br /> . . , , . � � =� ;�:�si�-�s�:ed by� Maz�gagee, as s�on as �aractf¢�le, in Per�n��ted
<br /> � ' . �". Txcc�t:t��ii� (as �defined i� .the �aan Aqseenaent) and as requeste� by.
<br /> ` �Marti;agor. Provi�ded no �rent of Defa�slt shall have eacurred and '
<br /> be continu3.nq, in�erest aa Net Proceeds or Net Awards shall belonq
<br /> and�be pa;i�d� to�Mortgaqor. Followinq t2�e occurrence and during the .
<br /> �on�inuation of an Event of Default, interest on Net Proceeds or ; :
<br /> - Net� Awards shall be paid to Mortqagee, subject to such terms and '
<br /> conditions as are set forth in the Loan Aqz�eean�nt or any „Loan � -
<br /> Doaument,�� as herefnafter de�ined. �
<br /> SECTION 1.13 Operatina Aareements. Mortgaqor shall �3
<br /> provide to Mortqaqee, from tfine to time as requested by Mortgaqee, � ��:;
<br /> certified copfes of every manaqement, operatfnq and other similar c ��`�"
<br /> agreement coverinq all or substantially all of the Premises. Each '
<br /> such agreement shali be in form and substance acceptable to
<br /> Martqaqee and shall be subordina�e arui subject to the Lien of t.hi.s .j� ,
<br /> Mortgaqe. �
<br /> � ;. .
<br /> �CTiON i.14 Alterations. Mortgagor shali haver t�e ��;.�. .
<br /> r�gEtt to �ake any and all additfons, modifications or cE�a��es �
<br /> (each, art *'Alteration") to the Premises �.n an amount less than or �'� �
<br /> ..; ;
<br /> equal to $2S,0oo without L�ortqagee's psior written consent as may ,. ��
<br />' be deemee� �zecessary or desirable by Mostgaqor; provfded, o e , ��
<br /> that.Mos�g�aqor shall (i) comple�e all Alterations promptly, ain a
<br /> qcae� and .s�orkmanlike manner anci fn compliance with a21 applicable
<br /> local laws, ordinances and requirements, (iij warra�t that said
<br /> _ . _ . .. . ..... .
<br /> ... . .Alterations �shall-��not -r-educe--or fmpafr the �value -of-��e--Mortqaqed ��-- --�-- -� � � �
<br /> Property and (iii) pay when due al'1 clafms for labor perFormed and
<br /> materials furn3shed in connection with any Alteration. Mortqagor
<br /> shall not remove or demo2fsh the Improvements� in whole or
<br /> . substantial part, without Mortgaqee•s prior written consen�, �n�ess
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