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fund such additional funds as may reasonably appear to be necessary
to pay such full cost and to procure receipted bills and full and
final waiver of lien when the work ahall have been completed and done.
The provisions of Section 14.2 (t~), (b) and (c) relative to procedures
and requirements for disbursement of the fund therein mentioned are
adopted as part of this Section to the extent the context so permits.
(b) Proviso. In any instance where the proceeds of
insurance for damage or destruction shall be less than $5,000.00 for
the reason that the reasonable estimate of the dama~qe shall be less
than $5;000.00, then the proceeds of insurance shall be payable to
the Association and disbursed ~iy it for the purpose of paying for
the reconstruction and repair. _
(c) SurPlus. When after the payment of repair or
replacement of damaqe, pursuant to ].9.3 (a), there shall remain any
surpl.us of the insurance proceeds, said surplus shall be first used
to pay any aAwunts due the Lessor at that time and the remaining
balance~, if any, shall be paid to the Association.
(d) Mortgagees. Notwithstandinq anything contained
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; herein, it is agreed that any institutional first mortqagee owning
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k an institutional first mortgage encumbering the Recreation Center,
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j may hold such insurance proceeds and funds and may impose such terms
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~ and conditions to require the Association to supplement such funds
~ in such amounts as may be necessary to pay for reconstruction and
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~ regair, to the disbursement of the same, and to such other matters re-
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~ lating to such funds and proceeds, as such mortqagee may require.
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~ 20. MORTGAGES. No mortgage lien, or other encumbrance against
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~ a condominium parcel or the condominiwn property shall be considered or
~ construed as a nwrtgage, lien, or other encwnbrance aqainst the fee
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