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<br /> -- ''9'"�'�� � entitied to apply the Proceeda ta the repayment ot the Laans in
<br /> �••�•���•.•,.{b accordauac� with 8uboection 2.6 B o! th� Credit Agreemeat.
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<br /> ;� ;�� " : . .. � , (d) It (1> no Bvent ot Detault exiate, (ii) the
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<br /> �.H f� °' ''"� Proceede a�re in aeneticiary's reaeonabie judgment euflicient to
<br /> ...�.: .
<br /> - . -_,-- �� .: Restore the Property, and (111) the Casualty or Condemnat on �_-:- --T.--�-�._..-�-
<br /> . giving rfee to th� Lose will not in Beneticiasy's reaeorsab�.e �.---
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<br /> judgment materially a!lect or require � moditication or change in
<br />;��� the contemplated uee or operaticn of the Property, arantor ehall
<br /> �,�•� � ' have the right to provide the Beneliciary with a written
<br />.�.� � notification withia ninety days of delivery o! the Determination ����"���"�"
<br /> Notice of ite decision to Restore the Property (the "Notia• to L, �,` •���':'
<br />� � ����"�'�� ' Aeotor�•) . Such notilication by Graator ahall in no way be '
<br /> � ` � � deemed to be a waiver of eeneticlary's rights under �he Credit L- �� �- �
<br /> F ' �, . , AgreemQnt. ---------.
<br /> ' 4 �`„ � .� If the draator electe to Reatore the Property, the a.�"�'°�Y":� -
<br /> "' arantor shall, prior to receiving any disbureements from the =.
<br /> . . � Beneficiary, (i) firet expend any aad a17. amounta c�eecribed in 6��,� ,-- -
<br /> clause (i) of the definition of "Ineuranca Proce�ds" to pay the •:c �R;"_
<br /> .. .. � coeta and expenaes of such Restorativn and (ii) provide the ��s����+�-
<br /> . • � Beneficiary with a certificate from an Authorized Financial • ;,�:�y;��
<br /> � ' ': �• � ' � Officer of the C3rantor stating that all euch �unde have been �-_ .
<br /> � c letel expended. 8eneficia may at ita o tion, condition '�`�='`��
<br /> , . omP Y rY , p :�s�;-�:�
<br /> � � diabureement of the Proceede on Heneficiary'e reaeonable approval
<br /> � �� ot plane and epecificationa prepared by an architect ea�isfactory J;..�
<br /> ' . �� . to eeneficiary, conetructioa contract, contractor'e coet ����,�
<br /> estimatea and schedule of valuea, architect'8 certificates, _-
<br /> ' , , waivere ot liena, aworrl etatemente of inechanics and materialmen, __ <
<br /> ..
<br /> �= � � � - - such otner evidenc:e �i coete, pe�cantage at ca�g�etian at
<br /> � " conetruction, application of paymente, aad satiafaction ot liena ��-�
<br /> �• • �. ae Beneficiary may reaeonably require. �;�---
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