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200109054
<br />anyone authorized to acquire the same in condemnation or by eminent domain unless Grantee shall first
<br />have consented thereto in writing. All awards payable as a result of a Taking shall be paid to Trustee,
<br />who may, at his option, apply them, after first deducting Trustee's expenses incurred in the collection
<br />thereof, to the payment of the debt secured hereby, whether or not due and in such order of application as
<br />Trustee may determine, or to the repair, replacement, rebuilding or restoration of the Property, in such
<br />manner as Trustee may determine.
<br />(b) If the Taking involves a taking of any building or other Improvement now or
<br />hereafter located on the Premises, Grantor shall promptly proceed, with reasonable diligence, to demolish
<br />and remove any ruins and complete repair, replacement, rebuilding or restoration of the Property to its
<br />respective size, type, value and character immediately prior to the Taking, whether or not the
<br />condemnation awards are available or adequate to complete such repair, replacement, rebuilding or
<br />restoration; provided, however, that if Trustee shall apply the entire condemnation award to payment of
<br />the debt secured hereby, Grantor shall have the option, in lieu of completing such repair, replacement,
<br />rebuilding or restoration, to pay in full the Obligations according to the terms thereof and this Deed of
<br />Trust. Grantor shall promptly reimburse Trustee upon demand for all of Trustee's expenses (including
<br />reasonable attorney's fees) incurred in the collection of awards and their disbursement in accordance with
<br />this Section, and all such expenses, together with interest from the date of disbursement at the Default
<br />Rate, shall be additional amounts secured by this Deed of Trust. Grantor shall certify to Trustee and shall
<br />provide adequate evidence satisfactory to Trustee that the Property has been put in a state of repair and
<br />equivalent to or better than that existing prior to such Taking.
<br />6.13 Damage to Property. In the event any part of the Property or any additions,
<br />betterments, substitutions or replacements shall be destroyed or damaged by any party or from any cause
<br />whereby Grantor becomes entitled to indemnity therefor from any third person or persons, Grantor, for
<br />the considerations named, does hereby sell, assign and transfer to Trustee all of such sum or sums so due
<br />from any such third person or persons, and Trustee is hereby authorized to receive, collect and sue for the
<br />same and Grantor hereby authorizes and directs that such sum or sums be paid to Trustee upon
<br />presentation of a duly certified copy hereof. Any and all sums received by Trustee hereunder, after
<br />deducting therefrom the reasonable charge or expenses paid or incurred in connection with the collection
<br />and disbursement of said moneys, may be used and applied at the option of Trustee either for the purpose
<br />of paying the cost of repair, restoration or replacement of the Property damaged or destroyed, or applied
<br />to the payment, of the Obligations secured hereby. Notwithstanding the provisions of this Section and
<br />provided that no Event of Default shall then exist, and Grantee determines that the work required to
<br />complete the repairs or restoration of the Property can be completed no later than March 1, 2008 or such
<br />earlier date of no later than six (6) months prior to the effective termination date of the Letter of Credit,
<br />Grantor may retain the proceeds from any indemnified damage or destruction of not more than Two
<br />Hundred Fifty Thousand Dollars ($250,000.00) for purposes of repair or replacement in such manner as
<br />Grantor shall determine.
<br />6.14 Failure to Perform. In the event Grantor shall fail to keep and perform any
<br />covenant, agreement, condition, promise or undertaking herein contained, then Grantee may, at its option,
<br />(a) pay any delinquent tax or other assessment, or purchase any tax title obtained or that shall be obtained
<br />thereon; (b) pay or compromise any and all suits or claims for liens or any other claims that may be made
<br />against the Property; (c) make repairs upon the Property; (d) pay any other expenses necessary to the
<br />management of the Property; or (e) pay insurance premiums on policies covering the Property; and
<br />Grantor further covenants and agrees to repay forthwith, on demand, all moneys paid for any such
<br />purpose and any other moneys advanced by Grantee to protect the lien of this Deed of Trust, with interest
<br />thereon from the date of the payment at the Default Rate, and all such moneys shall, if not otherwise
<br />repaid, become so much additional indebtedness secured by this Deed of Trust and be included in any
<br />decree foreclosing this Deed of Trust and shall be paid out of the proceeds of sale of the Property. It shall
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