Laserfiche WebLink
d7 105313 <br />(2) that all losses thereunder shall be <br />adjusted as provided in the Lease, it being <br />expressly understood, however., that in no event <br />shall the Mortgagor approve or consent to any <br />final adjustment in an amount exceeding $10,000 <br />without obtaining the Mortgagee's prior written <br />approval of the amount of such adjustment not to <br />be unreasonably withheld or delayed. <br />The originals, or certified copies o:: all such <br />policies shall be delivered to the Mortgagee <br />concurrently with the execution and delivery of this <br />Mortgage and, thereafter, all renewal or replacement <br />policies or certified copies thereof shall be delivered <br />to the Mortgagee 30 days at least before the expiration <br />date of the policy to be renewed or replaced, <br />accompanied, if requested by the Mortgagee, by evidence <br />of payment of premiums thereon satisfactory to the <br />Mortgagee. <br />All insurance monies, if any, recovered under any <br />of the policies of insurance provided for in the Lease <br />shall be applied, and by its acceptance of this <br />Mortgage the Mortgagee agrees that any such insurance <br />monies received by the Mortgagee shall be applied by <br />the Mortgagee, in accordance with the provisions of the <br />Lease; provided, however, that any unexpended balance <br />of such monies remaining after such application shall, <br />at the option of the Mortgagee and to the extent <br />permitted by the Lease, be applied in reduction of the <br />then outstanding Secured Debt secured hereby in such <br />order as the Mortgagee shall elect. <br />If at any time during the term of this Mortgage <br />and any extensions or renewals hereof, the Premises or <br />any portion thereof is designated a "Flood Hazard Area" <br />pursuant to the Flood Disaster Protection Act of 1973 <br />or any amendments or supplements thereto, the Mortgagor <br />shall, if reasonably requested to do so, obtain flood <br />insurance, (to the extent that Lessor does not so do), <br />in such total amount as the Mortgagee may reasonably <br />from time to time require and shall otherwise comply <br />with the National Flood Insurance Program as set forth <br />in said Act. <br />If the Mortgagee shall by any manner acquire title <br />to the Property, it shall thereupon become the sole and <br />absolute owner of all insurance policies held by or <br />required hereunder to be delivered to the Mortgagee, <br />