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in full the costs of such repair, rebuilding or restoration,
the Company wi11 nonetheless complete the work thereof and
will pay from its own funds that port~on of the costs thereof
in excess of the amount of insurance proceeds necessary to
complete said work, or (2) the Company will promptly proceed
as provided by paragraphs (A) or (C) of Section 4.02 hereof,
and upon the Trustee being furnished a certificate of the Con-
sultant stating that (a) the property forming a part of the
Mortgaged Property or the Project that was destroyed or damaged
is not essential to the Company's use or occupancy of the Mortgaged
Property and the Project, or (b) the Mortgaged Property and the
Project have been restored to a condition substantially equivalent
to its condition prior to such destruction or damage, or (c~
improvements have been acquired which are fully adequate for the_
Company's operations at the Mortgaged Property, and the Trustee
having no knowledge of any default by the Company under this
Agreement which has not been remedied, such insurance proceeds
shall be paid by the Trustee to the Company or, if the Company ;
sha11 so direct the Trustee in writing, into the Bond Fund and ~
applied by the Trustee in the manner hereinafter provided in ~
this paragraph. The Company shall not, by reason of the payment
of any excess costs under clause (1)(c) above, be entitled to any ;
reimbursement from the Issuer or the Trustee, nor shall
the Company be entitled to any delay, abatement or diminution
of the installments payable upon the purchase price as specified
in Section 3.03 hereof or any other sums payable by the
Company hereunder. Any balance of such insurance proceeds
remaining after the payment of all the costs of such repair,
rebuilding or restoration which shall be paid into the Bond
Fund may_ be used at the option of the Company as a credit
against the purchase price hereunder by the Trustee redeeming -
or purchasing, if possible, outstanding Bonds at a price
not exceeding the par value thereof plus accrued interest_
and any premium which shall be applicable upon the redemption
of Bonds on the next date that Bonds shall be callable for
redemption prior to maturity (or at such greater price as•
the Company may in writing consent to); provided that no
_ part of any such insurance proceeds may be applied for such
purchase or redemption unless all of the Bonds are to be
purchased or redeemed in accordance with the Resolution
or Agreement, or in the event that less than all of the
Bonds are to be purchased or redeemed, the Company shall
furnish to the Trustee a certificate of the Consultant stating
that the property forming a part of the Mortgaged Property
or Project that was damaged or destroyed is not essential
to the Company's use or occupancy of the Mortgaged ~Property
or the Project, or the Mortgaged Property and the Project
have been restored to a condition substantially equivalent
to their condition prior to the damage or destruction, or
improvements which are fully adequate for the Company's
operations at the Mortgaged Property have been acauired
and made a part of the~Mortgaged Property. The purchase
_ price describ~d in Section 3.Q3 hereof shall be reduced
ta the extent of such Eonds purchased or redeemed under
the provisions of this paragraph, with a corresponding reduction
in affected subsequent installments upon the purchase price.
(C) When no Bonds remain outstanding under the terms
of the Resolution or a balance of insurance proceeds shall
remain after all outis~anding Bonds shall have been redeemed
and all expenses and fees of the Trustee and Issuer have been
paid, and when no Cflncurrent Parity Bonds remain outstanding,
such balance will be paid to the Company.
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