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<br /> _ - 90--10'7464 f :;';""--_:
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<br /> _ � (b) of this Sections (iii) if the Proceeds with respect to ! . �
<br /> � . euch Loss amount to leaa than $100,000 and, in the case of a �
<br /> � Condemnation, such Loss aannot reasont�bly be anticipated to
<br /> have a Material Adverse Effect and no E�forcement Notice ie ,
<br /> in effect, (A) the Truator sha].1 not have Co obtain the
<br /> consent of the Beneficiary to settle any claim for such ,
<br /> - Praceeds and (B) such Proceeds shall be paid to the Trustor
<br /> who shall, at its option either (I) use the same to pay the
<br /> cost of Restoration of �he Property or (II) shall remit the
<br /> �. ' same to the Borrower to be treated as Net Cash Proceeds and
<br /> �..�;:;;'_.; applied by the �orrower in acaordance w�$tD� Sec�ion 2.05(c) of ;
<br /> �":;,�.'ti:s�, the Credit Ag�eement and Section ��14 of tDie Ea�der�ture: ';: ;��, ����,
<br /> .r�'1:��� ' `,';, iv i f the Praceeds witka res ct to such Loss arw�ma�t to �;; ' ,,t.� .,.
<br /> .:�lr � � � �.1,�,�;:;`':.:�� . „
<br /> „ $300,000 or more or, in the case of a COndemnatiom, s�n�h Loss .,;;.�•.;;.;;:,;�.
<br /> � � has or could reasonably be anticipated to have a IYlatern�i •' ;�� � :
<br /> � Adv�erse Effect and no Enforcement Notice is in e€fect, su�A . ����•��.�.;'�•:-
<br /> ' Froceeds shal� �� paid to the Beneficiary to be applied and ; ''� "' �'�"�' •�
<br /> � ''•� disbursed as provided in clause (c) of this Se�ti.on, provided , ,� :
<br /> that the Trustor shall not be required to pay any amounts �
<br /> �� �� desaribed in clause (i) of the definition of "Insurance � . .
<br /> Proceeds" to the Beneficiary antfl and unless required to do .
<br /> , so pursuant to clause (c) of this Sectiont and (v) if
<br /> insurance Proceeds are required to be paid to the Seneficiary ,
<br /> pursuant to this Section, the Trustor shall (A) promptly pay �
<br /> �;. the amounts described in clauses (i) and (iiy of the defini- '
<br /> 'j` ...�' � � tion of "Insurance Proceeds" and (B) promptly pay as soon as •
<br /> � ' � . .,': receiv�d the am�unts describe�l in cl ause (iii) of the def fni- • � -
<br /> � � ` ' � tion of "Insurance Proceeds'•, to the Beneficiary pursuant ta '_ ' �
<br /> � �:", "; � :;-. �ti, clause (ii) or (iv) of this Seation, as the case may be. The '�
<br /> �,�rj°� . . insurer shall be entitled to assume conclusivc�ly that no
<br /> , Enforcement Notice is in effect ff it has not received writ-
<br /> . ten notice of the existence of such Enforcement Notice. I
<br /> (b) If an Enforcement Notice is in effect, the �
<br /> Beneficiary shall have the right, at fts option, ;i) to apply
<br /> , any Proceeds toward the cure of any Defaultt or (ii) to apply
<br /> ' any Proceeds paid to or collected by it (together with any
<br /> income earned thereon) as provided in Section 3.03(a) of the , ,
<br /> r Trust Agreement.
<br /> ��� (c) If no Enforcement Notice is in efEect, the
<br /> , ��� Peneficiary shall pay any Proceeds received or collected by
<br /> �;� ' it pursuant to clause (iv) of Section 3.02(a) (toqether with
<br /> .�:!+ ; � � � any income earned thereon) to the Collateral Trustee to be
<br /> ' ��� �� held in an interest-bearing account as provided in Section
<br /> ,�,',' � .
<br /> , 3.03(d) (i) of the Trust Agreement and the Trustor shall
<br /> � � � , provide the Heneficiary with a written notification, within
<br /> six months from (i) in the case of a Casualty, the date of
<br /> the Casualty or (ii) in the case of a Condemnation, the
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