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<br /> � 97- �,01�57
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<br /> ._;;��..r=� (iv) Within 60 days from the date of such Taking the Trustor shall
<br /> �•r•- �� have given the Bene�iciary a written notice electing to have the ,.
<br /> : Condemnarion Proceeds applied for such purpose;
<br /> (v) Witl�in 120 days following the date of notice under the '•_�`~`
<br /> �;�{ preceding subparagra�h fivl and prior to any Condemnation Proceeds `-�--
<br /> • being disbursed to the Trustor, the Trustor shall have provided to the �'��n_
<br /> ., Beneficiary all of the followIng: ='���
<br /> � •y^{`u�
<br /> (1) if loss or damage exceeds $1QO,Qt)0, complete plans and =
<br /> specifications for restoration, repair and replacernent of the ,;,�:�:�''==
<br /> - Improvements, Equipment and Inventory damaged to the condition, ��'�x��{�:,
<br /> . utility and value required by the preceding subpara�,raoh (iil.
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<br /> , � (2) if loss or damage exceeds 5100,000, fixed-price or - �
<br /> guaranteed maximum cost construction contracts for completion of -
<br />_ the repair and restorarion work in accordance with such plans and
<br />_ : �'� specif'ications, -
<br /> - - � (3) if lass or damage exceeds$100,000, builder's risk '•":
<br />;" insurance for the full cost of construction with the Beneficiary
<br />-?�� named under a standard mortgagee loss-payable clause, ��
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<br />��. , . . (4) such additional funds (if any) as in the Beneficiary's
<br /> `�*:•,:. .. reasonable opinion are necessary to complete the repair, restoration —
<br /> .� � ' and replac�ment, and —�
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<br /> s�-.. .. � � (5) if loss ar damag� exceeds$100,OQ0, copies of all permits =
<br />�'��"-��a�-�:� '; and licsnses(if any) necessary to complete the wark in aecardance -
<br />- �,yti„i:c.ii' .
<br />„,��-:-�_.�:- with the plans and specif'ications; -�--
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<br /> —`-�'�-`'w�- (vi) I�loss or damage exceeds$100,000, the Seneficiary may, at -
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<br />,W;.';,w;,�;;;,;,,�.;.;� the Trustor s exp�nse to the eMtent such e�enses and fees are reasonable, �.�_--=- _
<br /> �;�� � � retain an independent inspectnr to review and apgrove plans and �` �
<br />___„.._ _�� specifications and cornpleted construction and to approve aU requests for -
<br /> N' ."° disbursement, whi�h approvals shall be conditians prec�dent to release of --
<br /> _.������ the Condemnation Proceeds as work progresses; =v
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<br />-��-,��r�';�:.�:;� (vii) The Tsustor shall commence such work withua 1S0 days after �' �
<br /> - ' - such Taking and shall diligently pursue such work to complerion; -
<br /> � 28- 's°:n:�=�_
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