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<br />~~~ A. ~~f yi,il-t---hl . l <br /> <br />. . <br /> <br /> <br />r <br /> <br />r <br /> <br />84- 008396 <br /> <br />in lieu of condemnation, are assigned and shall be paid to.AJileric4in' <br />but in no event in excess of the amount of the outstandin90bij.,~t:i.~1\ <br />secured by this Deed of Trust and any expensesiIlcw:pl!K.i' '..~. <br />in the collection of such proceeds. Also,a11plilY1ll.en~s <br />received by Grantor for any other voluntaryor.iinv()llJT<,~a: <br />of an easement, right-of-way, license, oro.tnt'lI' <br />Property in favor of a uti! ity or other entity\ot <br />power or right of condemnation, eminent doillain,.()~ <br />assigned and shall be paid to American. Grantor a <br />to apply such awards, proceeds, damages.. or pal' .., <br />deduction of American's expenses incurredinthex}<X) <br />amounts, at American's sole option, to restorati~n/ . <br />Property, or to payment of the sums secured bYit:;bi <br />whether or not then due, ''lith the balance, if. an <br />Grantor. Grantor agrees to execute such further <br />awards, proceeds, damages, claims, or paymentsaI'i.l:j'1 <br />with such condemnation or taking as Americanmayreq <br />nation proceeds are applied to the payment of the.tnae~;t:ij' <br />Grantor to American, any such application of proceeds to~- <br />shall be in inverse order of maturitYr if applicable. <br /> <br />10. The occurrence or any of tne following events <br />constitute an event of default unae~ this Caed of Trust: <br /> <br />Obligation (or any interest on the Obligatiou)~ <br /> <br />(b) A fai:ure to perform ar obse~le <br />terms any other covenant contained in this Deed of 'L'ru::lt, <br />Agreement, or the Obligation: <br /> <br />(cl The Grantor or any guarantor <br />of the Obligation shall file a petition in voluntary <br />under Chapter 7, Chapter 11, or ctapter 13 of the Federal <br />Act or any similar law, state or federal, whether now or <br />existing, or any answer admitting insolvency or inability to <br />debts, or fail to obtain a vacation or stay of involuntary <br />ings within 30 days after commencement; or <br /> <br />-. <br /> <br />(d) The Grantor or any guarantor of all or any <br />of the Obligation shQ~~ b~ adjudicated a bankrupt, or a trustee or <br />L,,"ceiver shall be appointed for the Go:antor or any guarantor of <br />or any part 0': the Obl igacion, or for all of the property of the <br />Grantor or of any guarantor of all or ar.y part of tne Obligation (or <br />a substantial pa rt of such property in any involuntary proceedings), <br />or any court shall have taken jurisdiction of the property of the <br />G~antor or any guarantor of all or any part of the Obligation (or a <br />substantial part of such property in any involuntary proceeding) for <br />the reorganization, dissolution, liquidation or winding up of the <br />Grantor or any guarantor of all or an? p,ut ot the Obligation, and <br /> <br />-G .. <br /> <br />u <br /> <br />L <br /> <br />..J <br /> <br />