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87100603
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Last modified
10/19/2011 12:20:51 AM
Creation date
3/27/2008 1:54:46 PM
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DEEDS
Inst Number
87100603
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1 218 r£ <br />100603 <br />(iii) maintain all ether insurance then required ' <br />by law or other governmental requirements or customary, with respect to <br />such work, including builders risk nonreporting fire and extended <br />coverage insurance. Prior to the commencement of such work, Trustor <br />shalt furnish to Beneficiary duplicate originals of said insurance policies <br />or endorsements; <br />(h) Upon completion of the work, Trustor shalt <br />obtain any and all governmental approvals and certificates and approvals <br />of fire underwriters which may be required for, or with respect to, such <br />work, and shall furnish photocopies thereof to e-enef ciary. <br />(d) The net amount of any insurance. proceeds to be made <br />available for repair or restoration of any dame to such property (the <br />"Deposit") shalt be disbursed from time to time by B afkiary, as the <br />work progresses, upon request of Trustor, when accompanied by the <br />following: <br />(i) A certificate, dated netcara than fifteen (15) days <br />prior to such request, signers by Trustor, and if the estimated east of <br />the work exceeds S50, i 00. €14, by the architect or enoineer in charge of <br />the work, setting forth that- <br />(a) The sum then reeuested to be disbursed either <br />has been paid by l rustor or is due to contractors, subcontractors_, <br />materialmen, engineers, architects or other -pees who have rendered <br />tabor or services or furnished materials in r ct ion with the work <br />. <br />giving the names and addresses ^+f such description <br />and a brief <br />Viz = <br />of such labor, services One; ,materials and the several ariounts so paid or <br />- due -to each of said persons, aro staffs that no part thereof has Been, <br />or =s. beir q a'iade the basis of prey s or t.. - , p nt& ag iffiest tear <br />the withdrawal of any portion of the Wit, or has been made out of <br />arty insurance proceeds received directly by the Trustor and that the <br />sum there requested does not exceed the value - of the labor, services and <br />materials described in the certificate; <br />- - - .(b) Except for the -sum so stated in such certificate - <br />to be due, there is no outstanding indebtedness known to the persons <br />signing such certificate, after reasonable inquiry, which is then disc for <br />labor. services or materials in coma ection with the restoration, or if <br />vw <br />there is any such outstanding indebtedness, setting forth the amounts <br />and creditors thereof, <br />(c) The cost, as estimated by the person signing <br />said certificate, of the work required to be done subs+emsent to the date <br />of such certificate in order to complete the sarie, does sxrt exraet�ct the <br />remaining balance of the Deposit after the payment of the sum requested <br />in such certificate or, if the cost does exceed the remaining balance of <br />'Deposit, <br />the setting forth the amount of such excess; and <br />(d) The work performed to the date of such <br />certificate has been performed satisfactorily in a first class, workmanlike <br />manner in accordance with the approved plans and specifications <br />therefore in compliance with all applicable laws <br />and other governmental <br />requirements and all gov,6rnmentaj apVwOvaj 5; <br />
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