89105092 - Laserfiche WebLink

Browse

■ 89-W 105092 . I detention of tb a Webtedness evidenced hereby shall, to the extent permitted b7. applicable law, be amortised, prorated, allocated acrd spread throughout the full term of such - -i eaaents- Matiz-- Val"=« - A .-ss - of 3sterest an account of such indebtedness does not exceed the "also rate or amount of interest permitted under applicable law. � testy •applicable ISWO as used herein shall mean the laws of the State. of Ntrads (or applicable United $fates federal law to the extent. that it permits, Holder to 000sact tor, charge, take, reserve or secsive a greater amou`iit of .Interest than under Nevada law). The provisions of" this: paragraph shalt control all agreements between Holder and, senefLoiart. 6.4 Holder shall be entitled to receive any and. all SUMS. which may be awarded or become payable to Trustor for the condemnation of tto Mortgaged Property, or any part thereof, for, public or quasi- public use, or by virtue of private sale in lieu thereof (a "CondeeMnatfoo"), and any sums which may be warded of, become payable to Truster for damages castted by public works or construction on or near the MortgagedVsoperty (all such suns# payments or awards being collectively rttersed to herein as "Awards"') and, at its option, may use the srarmr to rebuild, restore or repair, or cause Trustor to robuild, Costose and repair the Mortgaged property to the same or similer condition as previous to the Condemnation, or apply the same to the Secured indebtedness in the manner set forth in section 4.9 hereof, whether then Matured or to mature in the future, sad may deduct therefrom any expenses incurred in connection with the collection and handling of Awards. In the event that Holder elects to apply any Awards to the repair, rebuilding or restoration of the Mortgaged PropertY.r Trustor shall deliver or cause to be delivered to Holder the Awards plus such additional amounts which will be necesstrY to repair, rebuild or restore the. Mortgaged Property (such additional amounts to be determined by an architect or engineer reasonably acceptable to Holder). Trustor shai'1 imm- 4iately commence to> .repair, rebuild and restore tk* Mortgaged Fvbperty and shall diligently pursue the repairing, rebuilding and restoration of the Mortgaged Property to a condition substantiS ly equivalent to its condition prior to the Condsmnaticz. Awards held by Holder after the payment of all costs and expenses incurred in r epairing, rebuilding and restoring the Mortgaged Property shall be applied to the Seau1ted indebtedness. All Awards are- hereby assigned to Holder, and Trus+tar shall, upon request of H!oldes, make, execute, acknowledge and deliver any and all additional assignments and documents ex maY be necessary from titer to time to enable Holder to collect and receipt for am Awards. Holder shall not be,' under any circumstances, liable or responsible' - 12 - u 3 J