|
. ,. �
<br /> , • �,nw . . . . �
<br /> ��, .J� .. � . . ._.." .., . . . .. . - . . . . 1t'��q�_
<br /> � ' �. � � ��C7.'N��Y�' ,:Mf ."J.'.".�. _ � t.. TF•l ��..-•---==- -... _. :...
<br /> �:�f.�rr �,. . �i; ...�..w�. .
<br /> . . � y . ... .. .. �.. . .. '.. � —_
<br /> 'J
<br /> . . . . ;'¢SAMf1R1�'tif df}9(S: "+�v•- . .
<br /> ...���lu_ '�Sliur ,--- a..._��...�.,...�. � ,��._..._. ""_
<br /> r-iavn�m��-
<br /> __ ..MLvaf " __.' RRJt' F'q..... 1LN_!-'.1:).•.�S-�...-_
<br />� - ---�=�' . . 7�ff�4 r. .-._
<br /> • , � �i-:
<br /> ��""r �,Q�:�.��� -
<br /> �o�icies, �o co11s�G r�nd �:ocoivo �nuut:�nco �scacooa;�, nnd CoYOVided,�however, B�ha��nocEii�� �
<br /> in the r.all�ceion of. auch nrocoeala; P• m c�n �;---
<br /> expenss�a i�ncurrecl _ -
<br /> cont�►ined in �t►is paragraph 6 et�all xequire Betleflciary to inci�►z nny exp�nse ox ta y `
<br /> action her�aunder. Grantar fusther euthori•r.�aH Bduexiciaxy, at Eoncficia:y'� nption� (i) to ____
<br /> hold t�e Us�+Rnoe of euc�n pYOCeeda ta bo u:ed to re�in{�urao Crantor for the coer. o£ E,h-=
<br /> reStoraCion ox ropuir o£ Che Fropexty, ox (ii) to apPly the bnlance of such proceeda to tho �
<br /> p�ytaen� oE the eume secured by ehfs I�zELru�o��z. uhethex �r not then due, in the ordor o£ c:,
<br /> appAicatiom set forth i►a paragraph 3 hexeof. _
<br /> IP t2�e inaurnnce pr.oceedn are held by Bene£iciaxy to reimburse Gxantor £�r r.he co9t —
<br /> of restoration or repair of the �roperty� the Pxonerty shall b9 restored to tha equivalent
<br /> of ite or�ginal condlti.on or �uch other condition as Baneficiary may apprava in wri�ing.
<br /> Bene�ia�ary may� at BenOffciary's optton, condition diahursemant of said pzo�eeds on —
<br /> 8eneficiery's approval of such plans and epecificar.iona by an architoce autis£actory to _
<br /> Beneficiary, dontxactor's cost o,timates, architect's certificates� vuivarg of liene, sworn
<br /> atateaent�c of� m�+chanics and materinlmen and such othor evidence of costs� percentugo
<br /> coa�pletion oE aonatruccion. application of payments� and satisfactl4n o£ liena as
<br /> Heneficiary may require. If the insurance proceeds are applied to the payment of the swns
<br /> xqquired by ttiis Instrument� any such applicAtion of proceeds to principal shall not axcend
<br /> or pos�pone t�e due �a�es of tha month�y installments reyuired under the Nar,e or chnnge the .
<br /> ao�ounts of such inatallments. "!f Heneficiary acgu£rea titla to thu Property,
<br /> 8eneficiary
<br /> sk�r�Xl hava n11 oE Che ri�ht, title and int¢5�st efc Grantor in and to any insux�.nce policies
<br /> and unenrned premiuna thereon and E�. und z�a ttne �roceede ro�ulting £rom any dr•image to the
<br /> Properry �rior to sucl� sgle ar acquisition. __
<br /> 7, Cp?�TAF.Y�iNATION. GranCor ahall immedia�tely natify Benefi�imay o£ any actic�n or
<br /> proceoding r+alat�ng to any condemna�ion o� other tRking, whother direc� or indirect, of 2;he
<br /> Proparty, or any par.t thereof, and Grantvr shsll appear in and pruaec��ce any such act4.�n
<br /> or proceeding unless atherwise directed by Seneficiary in writing. Beneficiary �t�a11 have
<br /> the right. an bohalf Af �Granto�, to coiemence, ap�ear in and prosecute� in Beno£iciary's nti
<br /> Grantax's naae, any action nr praceediog �nia:.;:.� ta .^•ri� =^I'-�AmnAtiofl or othox L•aking nf
<br /> ehe Proparty� whetti��t diruct or indirea�, and to �ettle or compromic+e any claim in
<br /> co,nnection with such �candecanation or oe1�Q� takinv. Grantor hereby a�signa Co Beneficiary
<br /> a1� righte of Grantor in and to the proceede of any award, pa}►�nent or cl�►ia� fox damage�, _
<br /> diroet or cansequential. in connoction with an�y such cundennation or other takicng, whethex
<br /> direet or in�direct. of th� Pxaperty, or any part thereof. or for convayunces in lie�t �o!f
<br /> conde�rnat ion. '
<br /> Any such awarde, puyn�ants. proceeJs vr daieagas, or portion thaxeof to which Grantor
<br /> is entitled sl�all, aEtar the deduation of t3eneficiary's expanseF i.cicurresd in the collsction
<br /> of such �uounts. ae tha election oE B�neficinry, (i) be applied co tha reconstruction�
<br /> restoration or repair of the Proparty in compliance With all npplicabYe Yega}. x�nquiren�ents.
<br /> crr (fi.) l�e applied Co tho paymenC of r.he• �ws secured by this Instrunent. whether or not
<br /> tltan du�. in tha ordor of application se� forth in paragrapl: 3 hereof, wiClx tla� balancs,
<br /> if +►ny, to Grantor. ' Unleae Grantor r.nid 9enaficidry otherwise agr�e in wr3.•Li.ng, any
<br /> appliCStion o� proceAde to pr3�ncipal �hall noc exrend or poatpone the duc iiu�Ce of thp
<br /> aonthly inet.�llments requ�ired bq the Note. Gran�or agrees to execute such fu�tlieY evfde+nr.�e.
<br /> of aas�igrueent of any awards. proceeds, daa�uB�s or clain�s arising in connaction wlth guah
<br /> cander:x�atiori or tak�rrg as Rene£iciary rnay require. Grantor'a failitng to immadi:a��iy d�liv�s
<br /> td L`iia dsne�iciarr all such axards. payma�ts, procaeds or d�msgaa paid to Crantor, buc owing
<br /> 11 t2i�.�hInt��icw�snt�db hali ont�ue aa nade�auD.t ntil. ch funds have been daliv�reQ xo ths
<br />- gene€iaiary..
<br /> B. PRESERVATYON AND t�lAINTENANCE OF PROPERTY. Grantor ti) shnll noe commit wASte or
<br /> perait inpa3.rment or doterioxs�cion of the 1'roper.Cy and shall not abandon tho Property, (ii)
<br /> � ekiell recar.isxruct, reatore or repair prompCly und in a good and workmAC�like manner u1L ar
<br /> ar►y part o� tha Property eo tho oquivulenr: of ita orig'nal cond3tios�� or r�uch ox�a�c
<br /> candition as 8enefici�ry may approve in writing, in the event of any damape, ix�,jury or loss ___.
<br /> C�ier�to. ahether or not 3neuxance p�cxr.esdo or wholo or in part. thn c�st� of suc:h -..
<br /> reconetract3on. re8toration os repair, (iii) ahc�ll kee�p the Pro�orty in �aod ordex,
<br /> oandition t�nd ropatr and shali replace fixtures, equipment, machinory and. appliet�ces oaa the
<br /> P�:op�rty vhen neoossary to keep auch itemc in gomai repnir, and will make or cause te� 'be
<br /> mad�. as and whon tl1c� same shall becomo a��ceseary, all structural or nonstructuxal, ir,texlar
<br /> r_______ ....a ....,�.,reoa., ranatrs_ realacemen�a nnd
<br /> amd exterioar, ordinn�y and excraordin�.�y� LVLOOOOq o.... _.•�------- --� - -
<br /> renewals n�cnssary to that end, (iv) s3�a11 comply with all zoning, building, health and
<br /> environuien��nl laWS, ordinnnc�s und xogulation�, and all oCher l�ws, regulation� und _
<br /> xequiremoneg or any governmenCaZ body oY ngency hnving jurisd3ction ovar the Property, or
<br /> the use and occupuncy thereof by Grantor, c�nd (v) shall comply wttt� oll co�•enan�s and _
<br /> agreemente of xecord a£fecting the properCy. Neither Gruntor nor rsny oChex pexson �hall
<br /> remave, demolist� or a1Cer any improvement now mxieting oY hereufter erec�ed on the Prop+exty,
<br /> Wlthout ChP px�.ox written consent af Benoficiary.
<br /> 4
<br /> ,
<br /> e
<br /> - --
<br /> -�_:.�-.�:_,---��_._. __.__-�-----
<br /> --------___._..�,...��..�-_,.�-,�.�_---- -
<br />
|