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<br /> � L-LL 1 �„ � - disbursement of such�snran�e prcaeeds t��refo��v4`�4{1l��'�rmfiai � �� �6��-��
<br /> �"�_ :`t..`; p�raaed in�ocordanae with t&e procedures awstomar�p emploped by Benefiaaz3r in • � -
<br /> °� : �Ar, the c�sbuisement of the pmceeds o#a�ons�zc�on loan. 1n sach ev�t,Grantor
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<br />°`.'`:.��<:�:-.;,;,:: the amourt,if any,by which the�st of such restor�tion or rgpaa,as defiera�ueed bp ':F`�:`::
<br /> � �� Ben�ficiary,ex�eds the anwvnt ef�uch�su:a�ce proceeds,which amount shall be � >-
<br /> -- ��`:�:<.:: disbmsed to pay costs of s�tch restoratian and repair prlor ta,and in the same :�
<br /> ,�'�r: ; �j� a�armer as,such iasurance proce�a Anp surplus whirh may r�emain after payxaent ., ,�_
<br /> ;=.�.`:` -`��� - of all�osts of res�oratim►or air at the of 8 be hed to :r F,..:4.�,;
<br /> �r�`�� :; reP maY� oPtion �fiaa�Y• aPP �
<br /> - ��'�` reduct�on of the indebtedie�ss I�ereby secureci,in anq order wl�ich BeneHdary may :-'1`;.;�.
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<br /> v=°`�'::`,� - deb�e vvliet�r then due and papable or orbe gaid to G=anfiar,as its int�st . ''`'���'.
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<br /> -._. z_._:_.�:..-'� �Y aPP�•the choice of appl�cati�to be sotetp at the discreHan of H�e�ciary. �{ � -
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<br /> _ � _ `'�� Notwid�standing any prnvision contained in t�is Sect�on�the � :
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<br /> � .�, ��= oontra�r,in the eves►t that no evem of default then e�dsts he=eewnder, Heneficiaay . _
<br /> .�-�: r.�� sltatt pe�mit the Net Iinsurance Proceeds to l�deposited ia an int�erest bearing � -
<br /> .,, ' � accaun#a�an u�st�tu�tian eatis#acbu ry to Ben e fi c 3 a r y,and Bene$d a:y shall furtlter � � ^-;�,
<br />-``�-��.":�t�-:�«-"`T= permit snrs�praceeds and all nnt�rest accru�ed the�+eon(�u�xeferred to as ����"'-
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<br /> '" { f�� t�; 'Znsuran�"int�rest"�ta be drawn upan to pay the costs of�+estoration,rebu�ding or �`` '4:_�
<br /> '` �-}*:'���- �-Q� repair of fhe Snbj�Pmpertg,pmv�ded that{i}aU Leases wiII re�eaire ia�€ect after � _ �4�
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<br /> -' "4,;�:u�;� such�restoration, sehuilding or rnpair;(ii)the�restoratton�rebuilding or repair of the ,'y:._
<br /> -�� - Y'f`,�- Subject Property shaU be ia strict a�dance wiH�plans and speci�cations dienefar . ��'�����-h�=-
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<br /> - � approved by Hene�ciary;(iii)the r�storat�on,rebuilding oi repa�r shall be , . �kI, ��.
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<br /> _ •� � : - commeaaed with�►one.hun�ed ei�t t p(180)da y s after tite�date of the Ioss and in � � �.
<br /> '`:'R''�.: "`' any�event prlor t�the date six(�mant�as prior to the Maturity Date;(iv�all � �� , �=
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<br /> , '� � restoration,rebutildin and shall be done ia.a od and worla�an�ce ma=uter ' �� ;
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<br /> "= r .� ' and in acoaPdance wit�c all a�ap�cable laws,statute.s,oidinanc�es,�d�,regulatians, � �
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<br /> t;;� �, covenat►ts,conditions.restr�cKons and reservatton�(v)Grantur h�s d�posified.wlt�► �._
<br /> - Benef�ciaiy,prlor to the camm��nQeatent of anp restoration,rebu�d�ng or repair,the � ��� ::;,�
<br /> ,,� ._ '._ .,;� ::, �amount bp which t&e 1V�t Insurance Preceeds wiU be i�tsuf&�ient fio cover the�t�tat.• , � � -:-`
<br /> :.`�::; ...:; �: cast of the plan�ed restaration,�builaiing or�epais,as evidenced by an itemized _=
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