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<br /> '. - - •`--'`� 'as Lender aoay approve ia writing. l,ender may.at Le�der's opdon.coadiHon disbiusement of said procxcds on _ • :_ , '� '�'�$.�
<br /> __--�.__ Lxudez's appmval of snch plaas an�specificatioas of aa architect satisfacc�ry to l.eader.conuactor's cost
<br /> ' � " ' estimates,architect'soertifcates.waivezsofliens.swoms�atemeatsofinechanicsaadmateriatm�andsuc6other " . -- �, :";
<br /> • ' ` evidence of casts.PercentaSe completion of constrac�on,aPPlicatioa of paymeuts.and san.SfactIon of Iiens as . . `t: ,". �
<br /> .� Leader may reasoaably ieq�sire. If the ins�uance pmceeds are applied to the payment of the sums sec�ued by this .. ' ` • `. � • .
<br /> ` � Inst�e�u.aa3+snch 8PFlic�on of proceeds w principal shall not extead or postpone the due dates of the - ° f.
<br /> � � monthty instsllments:eferred w ia paragrapLs 1 an+d Z hereof or change the amouats of sur1�installmeats. If . .. ,
<br /> , the Pmperty is sold pursvant w paragr�pL 27 hereaf or if Leader acquires title to dae Property.Lender�ha116ave
<br /> �.. aIl of the right.dtte and interest of Bnnower m and w aay insrL+�++�policies and unearaed premiums thereon � °�':`--
<br /> - ;. � . and ia and to the proceeds res�iltiag irom a�r daaiage tn the ProP�Y Prior to such sale or acquisitioa. : �-'~� .�_
<br /> ` . 6. PRL�SERVATION APID MAIN�ENANCE OF PROPERTY:LEASEHOLD�. Borrower(a)shall _ , :h ::._ _._
<br /> � ,. not commit aaste o:germit impairment or deteriosatioa of the Property.(b)sHall not abandon the Property,(c) . - Y�_
<br /> shall reswre or repair prompdy aad ia a good amd aorkmanl�Ce manaer ali or airy part of t�e Property tn the _
<br /> , . eqUivalent of its origmal conditinn,or surh other condiuna c+s Lendermay appzove ia writing,ia t h e ev e n to faay _ ':,.'�:_�4;�-__
<br /> ` t"' damage,in,'ryty or loss thereto,whether or not ias�rance proceeds are ava�ab2e w covet ia whofe or m pact the : ..'f��
<br /> . _.. ,:r wsts of such restoratinn or repair.(d)sha11 keeP��F�Y,includiag impmvemeats,�,e�lniPment, .,;�:��: � :.,---
<br /> ' machinery and appliances thereon in good repair and shall replace fixtures,equipment,machmery and appliances —'—�' .. ' �=s'�.
<br /> s.,,� • • �--
<br /> . ' , on the Pmperry whea necessary tfl keeP sach items in good repair,(e)shall comply with aU laws,ordinances, �F."=�:
<br /> � � regulaaons and require�eats of aay goveratnental body applIcable to the Property, (�shall provide for . � ,. .,o�
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<br /> � . pmfessional mana8ement of the Prope r t y by a residential re�tal pmperty manager satisfactory w lxnder pu:suant , �. . "'
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<br /> w a co�acx appmved by Lender m writmg,�mless such requi�me�shall be aaived by lxader m w�ag.� ��� ,, '�
<br /> � sha11 geaeralty operate and maintain the Property ia a manaer to ensure maxinaum rentals.aad(h)shall give • �
<br /> . �.._ �:�[ notice in wriHag to Lender of and,�mless otheca+ise directed'm writing by Lender,aPPear in and defend suy . '� �,: �[
<br /> , , : �t action or procceding piuportiag w affett the property,the security of tl�is Ins�t or the rights of poaers of '.;��
<br /> . • -� . I.ender. Neuh�r�orrower nor aay tenaat or other person sltall remove.demolish or alter any improvemeut now - � -- �
<br /> � � existisng or hereafter ereaed on the Property or any fuavre,eqnipment.machiuery or appliance in or oa the � . ;`�.'�;_
<br /> x�s �•
<br /> ' property except when iacident to the replacement of Sawres,equiPmenc.machiaerY aad aPPliances aith items • � .. „�����;
<br /> � of l�ce kind. _ ' • �`:
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<br /> If ttus Instruiment is on a leasehold,Borrower(i)shall comply with the provisiflns of the gtaund lease, ,. ;_��;`'�a
<br /> • (ii)shall give immediate written nouce to Lender of any default by lessor uader the ground lease or of any notice , . '��.��.
<br /> . . ,: � ��..,-
<br /> received by Borrower from such lessor of aay default under the ground lease by Borrower.(iii)al�aall exercise � r�� �''`�
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<br /> . any option w renew or eateud the ground 2ease and give written coa&mativa thereof w Lender withia thirty days . ':: y���.-
<br /> . after suc�optlon becomes exercisable.(iv)shail give immedisu written nodce w Lender of the commencement ,;� '� -.�
<br /> � of any remedial proceedings uader the grouad lease bY�Y P�Y���•if requi�ed by Lender.shall petmit ' . F�;::
<br /> � Lender as Bomower's attomey-�-fact w control and act for Bartower ia airy such remedial pmceedings and(v) ':�n;.
<br /> , , : shaII wlttiin th�rty days aRer request by I.ender obtaia from We less�r under the ground lease and deliver to , � .�.,� .
<br /> � Leader the lessor's estoppel certif�cate reqaired thereuader.if any. Bonower hereby expressiy uansfers and ._ . ..
<br /> assigas to Ixader the beneSt of all covenants coatained ln the gcound lease,wbether or nos sucb covenaats run
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<br /> � with the laad,but Leader shall have no liab�iry with respect to such coveaants nor any other covenants coata�ned ,. � •
<br /> . • . � in the ground lease. . . `��.
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<br /> '�� Borrower shall not surrender the leasehold estatc and interests herein conveyed nor termivate or cancel
<br /> the ground lease creating said estate aad interests.aud Bonowec shall no�without the espress wriuen wasent ' '
<br /> � of Lender.alter or amend said ground lease. Boaower covenants and agrees that there shaU not be a merger of � , .
<br /> .; " .� the ground lease,or of the leasehold estate created thereby,with the fee estate covered by the gound tease by . �` � .
<br /> �' ' reason of said leasehold estate or said fee estate.or any parc of eiWer,coming lnto common ownership,unless . .
<br /> . Lender shall consent in wrldng to such merger;if Borrower shall acquue such fee estate.then this Inswment ' ' .
<br /> � shall simultaneously and without further action be spread so as to become a lien on such fee estate. �
<br /> . ' Mcnu�ib DaaoYlf�m.Ad�mmt atRmu.SacvAts A�d anA ilam�i[IIW(➢aa�f ol ta1 • � � � .
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