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<br />-��'.k 17��' . � '�/�~ �O�H�� �..
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<br /> . ,".,�• restor�tion �nd repair of that part of��nh��aT esdtpEsta�tsvaffocted �
<br />- ; . ,, .� by suah Ca�ualty or Condemnation (the tc �') t or _
<br /> � ��� � (ii) to the prepayment of the loans or other indeb�edn�ea _
<br />�'}';�'�� conatituting the Secured Qbligatione hsreunder in the manner ax►d -
<br />��'� to the extent specified in 9ection 1503 of ths xndenture. _
<br />_���;� ,' FAilure of the trustor to make euah an election withia 12Q dayfl ,�:''
<br /> from the date of the respective Casualty or Condemnation ahall
<br /> ��` automatically conetitute an eloction to eo apply the respective -
<br />-_-�� Casualty or Cond�mnation Proceede to the prepayment as aforesaid
<br /> ., of the indebtedness secured hereby.
<br /> � _..••�� _
<br />'_•"� -- � If the Trustor elects to eo restore anst repair tne -
<br /> =--� Affected Propert�r, any amounta (and any earnings thszeon) held in
<br /> �#�`��� .� the Reataration Account ehall be applied by the Heneficiary to
<br />�`�r� . the restoration and repair of the Affected Pro�erty and advanaed
<br />� '`����: to the Trustor in accordanc� with 3ection 1502 of the Indenture.
<br /> .,�:,.t.. �
<br />=�`"�__._' Anythi.ng in this 9ecti.on i.05 to the contrary -
<br />;�.�=;_;�r,,� notwithatanding, the �eneficiaxy shall have no obligat�.on �o -
<br /> �-���' release any amounts held in the Restoration Account to the
<br /> �'��`v Trustor for restoration or repair of the Affected Property if a
<br />�:r,;�;�;�� Defaul� (ae defined in @ectioa�.0�) , or any event that with -
<br /> ;�:,�,��__ lapae of time or with notice and lapae of time would become a
<br /> - Default, has occurred and is continui�ng. If a Default, or any
<br /> -��= event that with lapae of time or w3th notice and lapea of time
<br />�"'�'� ' would become a Default, has occurred and is continuing, the
<br />:;-�� Beneficiary may, in its sole diecretion, apply any Casualty or �
<br /> -� Condemnation Praceeds either: (i) to the payment of the Secured
<br /> '-��� Obligations ae provided in �g�t;on 4.03 (a) or (ii) to the
<br /> --�= restaration or repair of the Affected Properzyt ""-s�+�•
<br /> "�="'L`�°; however, that if the Heneficiary requires such proceeda to be
<br /> ==—= applied to the reetoration or rep�3r of the Af£ected Property,
<br /> -- the Beneficiary will advance to tih� Trustor ia aacordance with
<br /> � the foregoiag proviaioas of tbis ,�e�*-a�n?.o5(dI , the Casualty
<br /> ar►d Condemnation Proceede, lesa auch amounte that may have been
<br /> expeaded by tho Beaeficiary to e�fectuate any cura of sueh
<br /> - Defau2t. Al1 Casualty or Cottdemnati.on Proceeds remaining agter
<br /> - the payment for reatoxation and repair of the Affeated Property
<br /> purauant to thia �sc*_;�� i_ o5(d) may, at thQ optiaa o� the
<br /> Benef iciary, be applied to the prepayment of the loans or other
<br /> ladebtsdneAe conetituting tbe Secured Obligations hereunder in
<br /> - the manaer and to the extent specified in 3ectiora 1503 of the
<br /> - Indeature.
<br /> (e) The Beneficiary shall be entitled at its option to
<br /> __ � participate in asiy compromiae, adjuatment or eettlement ia
<br /> --- connectian with aay claims for losa, damage or destruction under
<br /> any policy or policiee of insurance, in excess of 5250,000, anc3
<br /> the Truetor ahall within 5 Buainess Days after requeat therefor
<br /> reimburae the Beneficiaxy for all reasoaable out-of-pocket
<br /> - expenees (including reasonable attorneys' fees and disburs�ments)
<br /> - incurred by the Beneficiary in connection with euah
<br /> - � ' participation. The Trustor ehall not make any compromise,
<br />�_..�,a� .
<br />_-,c� -�,�,�.� ALS\40655{ 10/15/95 i���ipm lo
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