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(C) That the cost, as estimated by the persons sigpirrg such certi-
ficate, of the restoration required to be done subsequent to the date d
such certificate in order to complete and pay for the same, does not exceed
the insurance money, plus any amount or security approved by Meetgeg~ee
deposited by Mortgagor to defray such cost and remaining in the hands
of Mortgagee after payment of the sum requested itt su~eh certificate.
(2) An opinion of counsel or other evidence satisfactory to M
to the effect that there has not been filed with respect to the Mortgageed Pe party
or any pert thereof any vendor's, contractor's, meehenids, laborers, materialmans
or other lien which has not been discharged of record, e~ocept such as will be dis-
charged by payment of the amount then requested, and that upon such payment
no such liens may be validly filed.
(3) An opinion of Mortgagor's counsel satisfactory to Mortgagee stating
that the instruments which have been or are therewith delivered to Mortgagee
conform to the requirements of the foregoing Clauses d~ and (2) d this Section
and that, upon the basis of such request, the insurance proceeds, the withdrawaa
of which is then requested, may be properly paid aver undue this Section.
SECTION 10.03. In the event that eny such restoration involves e~cpenditures
in e~ocess of =100,000 in addition to the certificate required by clause (U of Section 10A2
hereof there shall also be furnished a certificate signed by the architect and/ac engoeer
in charge of the restoration, who shall be selected by Mortgagor and approved in writitg
by Mortgagee, certifying to the facts set forth in Subclause ~(C) of said Section lO.OZ.
SECTION 10.04. Upon compliance with the foregoing pcwisions of Section
10.02 hereof Mortgagee shall, out of such insurance money (and the amount or security
approved by Mortgagee if argr, deposited by Mortgagor to defray the cost of the restora-
tion), pay or cause to be paid to Mortgagor or the persons named (p~esueuit to Subclause
(1)(A) of said Section 10.02) in such certificate the respective amounts stated therein
to have been paid by Mortgagor or to be due to them, as the cane may be.
~ SECTION 10.05. If the insurance or other monies at the time held by Mort
gagee, less the actual cost, fees and expenses, if any, incurred in connection with the
' adjustment of the loss, shall be insufficient to pay the entire cost of such rest~ocation,
~ Mortgagor will pay the deficiency.
` SECTION 10.06.. Upon (i) completion of all of the restoration in a good
and workmanlike manner and substantially in accordance with the plans and specifica-
~ tions therefor, if any, and (ii) receipt by Mortgagee of satisfactory evidence of the chsraN
ter required by clauses (1) and (2) of Section 10.02 hereof, that the restoration has bey
I completed and paid for in full and that there are no liens of the character refeered to
in said clause (2), any balance of the insurance money at the time held by the Mortgagee,
if arty, shall be paid to Mortgagor. "
SECTION 10.07. Notwithstanding any provision of this ARTICLE 10 to the
contrary, if at any time during any restoration of the Mortgageed Property Mortgagor
shall be in default under any provision of this Mortgage and/or the Note, bortgag~ee shall
have no obligation to apply insurance money to restoration and may apply such insurance
money 6t eny such manner as Mortgagee in its sole discretion may determine, including
~ application to reduction of the indebtedness secured hereby.
ARTICLE l1
Condemnation
SECTION 1LOL In the event that the Mortgaged Property, or any pert s
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