HomeMy WebLinkAbout0269 interference with business, the Mortgagee shall have approved
thc plans and specifications for the work to be submitted by the
Mortgagor, which approval shalt not ba unreasonably wethhcid
or d~layed, it being nevertheless understood that to the extent
feasible said plans and improvements shatl be at least equal in
vatue and general utitity to the improvements which were on the
prcmises prior to tfie damage or destruction .
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(b) Each rcquest for payment shalt be made on Seven (7~ ~
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days prior notiee to the Mor~agee and shatl be accompanied by a i
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certificatc to be made by such architect or engineer, if one bc i
required under clause (a) of this Paragraph, otherwise by an
executive or fiscal officer of the Mortgagor, stating (i) that
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atl of the work completed has been done in compliance with the ~
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approved plans and specifications, if any be required undcr said ~
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ctaus e(a); (ii) that the s um reques ted is justly required to ~
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reimburse tfic Mortgagor for payments by the Mortgagor to, or is ~
justly due to, the contractor, subcontractors, materialmen, laborers,
engineers, architects or other persons rendering servfces or mat~rials
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for the work (giving a brief description of such servicas and materials) ~
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and tt~at when added to atl sums previausly paid out by the Mortgagee s
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does not exceed the vatu~ of the work done to the date of such
certificate, and (iii) that the amount of such proceeds remaining
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in the hands of tt~e Mortgagee will be sufficient on completion of ~
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the work to pay for the same in full (giving in such reasonabie i
detait as the Mortgagee may requir.e an estimate of the cost of such
comptction); _
c Each requcst shall be accom nied b waivers of lien ~
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satisfactory to tfic Mortgagee covering tfiat part of tht work for ?
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- ~~K 218 ~A~ 269 F
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