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HomeMy WebLinkAbout1106 l ; . ~ any part of either thereof not requiring Major Work in order to restore the Real Estate, as determined by Mortgagee, if Mortgagar (subject to acts of God, governmental restriction, regulation or control, enemy or hostile governmental action, civil commotion, insurrection, sabotage, fire or other casualty or other condition beyond the reasonable control of Mortgagor), shall fail promptly to repair, restore and rebuild the Real Estate and the Equipment so damaged or destroyed, or in any other respect fails to comply with its restoration obligations under this Paragraph 28, then, in addition to all other rights herein set forth, and after giving , ; Mortgagor fifteen (15) days' written notice of the nonfulfillment I ~ of one or more of the foregoing conditions, Mortgagee, or any ~ lawfully appointed receiver of the Premises or any portion thereof, ~ ~ ~ may at their respective options (but shall have no ob~igation to), e ~ perform or cause to be performed such repair, restoration, ~ replacement and rebuilding, and may take such other steps as they ~ deem advisable to perform such work; provided, however, that ~ Martgagee shall be permitted to give such shorter notice (and in ~ such manner~ as is reasonably practical in case of emergency or other special circumstances. Mortgagor hereby waives, for ~ Mortgagor and all others holding under Mortgagor, any claims, other ~ ~ than for gross negligence, against Mortgagee and such receiver arising out of anything done by Mortgagee or such receiver pursuant hereto and Mortgagee may apply all or a portion of the Proceeds (without the need to fulfill any other requirements of this Paragraph 28) to reimburse Mortgagee, and/or such receiver, for 41 eooK6~5 FacE11Q6 ~ - y ` ..~-~~~~:d~~r ~>~°~~a~ ~ ~ .