Common use of Borrower’s Obligation to Rebuild and Use of Proceeds Therefor Clause in Contracts

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds are insufficient to assure the Lenders that the Loan will be in balance, promptly deposit with Agent any amount necessary to place the Loan in balance; and (d) Promptly proceed with the assumption of construction of such Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers for a disbursement by Agent of Proceeds and funds deposited by Borrowers shall be treated by Agent as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds are insufficient to assure the Lenders Lender that the Loan will be in balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balance; and (d) Promptly proceed with the assumption of construction of such Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Agent does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Agent that the Loan will be in balanceIn Balance, promptly deposit with Agent any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption resumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Administrative Agent does not elect to apply or does not have the right to apply the Proceeds to the indebtednessObligations, as provided in Section 11.1 14.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Administrative Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Administrative Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders that the Loan will be in balanceIn Balance, promptly deposit with Administrative Agent any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lenders of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lenders as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Agent does not elect to apply or does not have the right to apply the Proceeds to the indebtednessObligations, as provided in Section 11.1 above, the relevant Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, deposit with Agent the full amount required to complete construction Restoration as aforesaid; (c) In the event the Proceeds are insufficient to assure the Lenders Agent that the Loan will Restoration can be in balancecompleted, promptly deposit with Agent any additional amount necessary to place the Loan in balance; andpay for such Restoration; (d) Promptly proceed with the assumption Restoration of construction of such Improvementsthe Facility, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers for a disbursement by ; and (e) Promptly provide to Agent of Proceeds such showings, certificate, lien waivers, permits and funds deposited by Borrowers similar documentation as Agent shall be treated by Agent as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loanreasonably request.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 above, Borrower Borrowers shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any material delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds are insufficient to assure the Lenders Lender that the Loan will be in balancebalance (i.e., the outstanding principal thereof does not exceed seventy percent (70%) of the “as stabilized” value of the Projects based on the most recent Appraisals received by Lender), promptly deposit with Agent Lender any amount necessary to place the Loan in balance; and (d) Promptly and To the extent reasonably practicable, promptly proceed with the assumption of construction of such Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s Borrowers’ compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection Proceeds and the available proceeds of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (dc) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of proceeds of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s 's compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of proceeds of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption presumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s 's compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s 's compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 12.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, as reasonably determined by Lender, deposit with Agent Lender the full amount required to restore and complete construction as aforesaidConstruction of the damaged Improvements; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption Construction of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds are insufficient to assure the Lenders that the Loan will be in balance, promptly deposit with Agent any amount necessary to place the Loan in balance; and (d) Promptly proceed with the assumption of construction of such Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers for a disbursement by Agent of Proceeds and funds deposited by Borrowers shall be treated by Agent as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.. ARTICLE 12

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Administrative Agent does not elect to apply or does not have the right to apply the Proceeds to the indebtednessObligations, as provided in Section 11.1 14.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and and, except as otherwise provided above with respect to the Phase III Retail Unit or in the Deed of Trust, cause the Proceeds to be deposited with Administrative Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Administrative Agent or with Ground Lessor’s Fee Mortgagee, if and to the extent required under the terms of the Ground Lease and the Ground Lessor’s deed of trust the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders that the Loan will be in balanceIn Balance, promptly deposit with Administrative Agent any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption of construction of such Improvementsthe Improvements or the Phase III Retail Unit, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lenders of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lenders as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 10.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Lender that the Loan will be in balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balance; and (d) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s 's compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan, as well as all conditions precedent to the disbursement of Proceeds with respect to a construction loan contained in a standard form of construction loan agreement used by Lender with respect to the construction of apartments or condominium projects.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Proceeds, deposit with Agent Lender the full amount required to complete construction as aforesaid; (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (d) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Administrative Agent on behalf of the Lenders do does not elect to apply or does not have the right to apply the Proceeds to the indebtednessIndebtedness, as provided in Section 11.1 7.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Administrative Agent; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection Proceeds and the available proceeds of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds Loan are insufficient to assure the Lenders Administrative Agent that the Loan all contemplated repairs or construction will be in balancecompleted, promptly deposit with Administrative Agent any amount necessary to place the Loan in balanceassure that such contemplated repairs or construction will be completed or otherwise provided Administrative Agent of assurances acceptable to Administrative Agent that funds for such repairs or construction are available; and (dc) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Administrative Agent of Proceeds and funds deposited by Borrowers Borrower shall be treated by Administrative Agent as if such request were for an advance a disbursement of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance a disbursement of the Loan.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Lenders do Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 11.1 16.1 above, Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities Governmental Authorities and cause the Proceeds to be deposited with AgentLender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection Proceeds and the available proceeds of the Proceeds, deposit with Agent the full amount required to complete construction as aforesaid; (c) In the event the Proceeds Loan are insufficient to assure the Lenders Lender that the Loan will be in balanceIn Balance, promptly deposit with Agent Lender any amount necessary to place the Loan in balanceIn Balance; and (dc) Promptly proceed with the assumption of construction of such the Improvements, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Any request by Borrowers Borrower for a disbursement by Agent Lender of Proceeds and funds deposited by Borrowers Borrower shall be treated by Agent Lender as if such request were for an advance of the Loan hereunder, and the disbursement thereof shall be conditioned upon Borrower’s compliance with and satisfaction of the same conditions precedent as would be applicable under this Agreement for an advance of the Loan.