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Franchise Agreement with respect to the Premises or any part
thereof (a "Franchise Agreement") or by any carriers of insurance
coverage or (y) if such alterations are not so required, the
aggregate cost of such alterations not exceed ten percent (10$) of
the then balance owing under th~ Note securing this Mortgage (Loan
Amount) in the case of non-structural alterations or five percent ~
(5~) of such Loan Amount in the case of structural alterations, and
provided further that (except to the extent that an adverse effect
or char,ge cannot reasonably be avoided or mitigated in the case of
any alterations described in clause (x) above) such alterations do
j not materially adversely affect the utility or value of the Real
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i Estate or the Equipment or materially adversely change the
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; character of the Real Estate, (such permitted alterations being
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° hereinafter sometimes collectively called "Permitted Alterations").
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; All aZterations made hereunder shall be made in compliance with the i
~ Franchise Agreements, regulations and requirements of all
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~ applicab~e laws and the Lease and shall not in any manner diminish
the value of the Premises (except ta the extent that an adverse
~ effect or change cannot reasonably be avoided or mitigated in the
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~ case nf alterations described in clause (x} above).
~ 4. (a) Mortgagor, immediately upon obtaining knowledge of the
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institution of any proceedings for the condemnation of the Real
Estate or any portion thereof, shall notify Mortgagee of the
pendency of such proceedings. Mortgagee at its election and in
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its discretion, may participate in any such proceedings and
Mortgagor from time to time shall deliver to Mortgagee all
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