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by Trustee (or to the registrar and paying agent then serving as
such under the Indenture, as the case may be) to the bondholders,
such condemnation proceeds shall be applied to the restoration of
the Mortgaged Premises.
In the event the condemnation proceeds are to be applied, '
pursuant to the provisions of this Section 1.09, to the
restoration of the Mortgaged Property, Mortgagor shall proceed
promptly to repair,.r~build, replace or restore the property
damaged or destroyed by such taking so as not to impair the
operating unity or effec~ive use of the Mortgaged Property, and
Mortgagee will apply so much as may be necessary to payment of :
the costs of such repair, rebuilding, replacement or restoration ~
either on completian thereof or as the work progresses, as ~
directed by Mortgagor. Each such direction of Mortgagor shall be
accompanied by a certificate of an architect or engineer (who 3
shall be selected by Mortgagor and satisfactory to Mortgagee) in ~
charge of the rebuilding, repairing, replacement or restoring,
dated not more than thirty (30) days prior to such direction (x)
setting forth in substance that the sum then directed to be
; applied either has been paid by Mortgagor, or is justly due, to
contractors, subcontractors, materialmen, engineers, architects
or other persons who have rendered services or furnished
materials or improvements for the rebuilding, repairing,
replacement or restoring therein specified and setting forth the ~
names of such persons; a brief description of such services or ~
materials or. improvements and the several amounts so paid which !
are due to each such person; and a statement that none of the f
costs of the services or materials or improvements described in ~
such certificate has been or is being made, in whole or in part,
the basis for any previous or then pending direction for payment ~
under this paragraph and that the sum then directed to be applied ~
does not exceed the value of the services or materials or ~
improvements described in the certificate, and (y) stating that, ~
except for the amount, if any, stated in the certificate pursvant
to the imanediately preceding subdivision (x) to be due for ~
services or materials or improvements, there is not outstanding '
any indebtedness known to the persons signing such certificate ,
which is then due for labor, wages, materials, suppli~s or ' ,
services in connection with the repairing, rebuilding,
replacement or restoring which if unpaid might become thQ basis
of vendors', mechanics', laborers' or materialmen's liens upon
the Mortgaged Property or any part thereof. If said net proceeds
are not sufficient to pay in full the costs of such repairs,
rebuilding, replacement or restoration, Mortgagor shall
nonetheless complete the work thereof and shall pay the portion
of the costs thereof in excess of the amount of said net
proceeds. Mortgagor shall not, by reason of the payment of such
excess costs, be entitled to any reimbursement from the Mortgagee
or any abatement, diminution or postponement of the amounts
payable with respect to the Secured Indeb*_edness.
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BOOK 573 FAGE 9UU