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distribution to or on behalf of Mortgagor of the Proceeds required '
hereunder, any Proceeds remaining shall be distributed to Mortgagor
provided that there is not then existing an Event of Default. ~
(F) In the event the Work to be done is not Major Work
as determined by Mortgagee, then, the Proceeds received by
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Mortgagee shall be paid to Mortgagor to be applied toward the cost
of the work.
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(Gj Unless the obligation to repair and restore shall be
the obligation of the Landlord under the Lease, within ane hundred
twenty (120) days after the occurrence of any damage or destruction
to the Real Estate and/or the Equipment or any portion of either
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; thereof requiring Major Work in order to restore the Real Estate
~ and/or the Equipment, Mortgagor shall not have submitted to
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i Mortgagee and received Mortgagee's approval which approval shall
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be made in a timely fashion, of plans and specifications for the
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~ repair, restoration, replacement and rebuilding of the Real Estate
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~ and the Equipmen~ so damaged or destroyed (approved by the
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; Architect and by all governmental authorities whose approval is
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~ re4uired), or if, after such plans and specifications are approved
~ by all such governmental authorities, such other parties and
t Mortgagee, Mortgagor shall fail prompt2y to commence such repair,
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restoration, replacement and rebuilding, or, provided that
Mortgagee has released the Proceeds to the extent required
hereunder, if thereafter Mortgagor fails diligently to continue
such repair, restoration and rebuilding or, in the case of any
damage or destruction to the Real Estate and/or the Equipment or
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BooK 675 PAGE1105
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