Common use of DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS Clause in Contracts

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional Collateral. If all or any part of the Project or Additional Collateral is lost, stolen, destroyed or damaged beyond repair ("Damaged Property"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property having substantially similar specifications and of equal or greater economic value, utility and useful life to the Damaged Property immediately prior to the time of the loss occurrence, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged Property. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-five (45) calendar days of the loss occurrence, (a) Borrower fails to notify Lender and Issuer; (b) Borrower, Issuer and Lender fail to execute an amendment to this Agreement to delete the Damaged Property and add the replacement property or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged PropertyEquipment"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender's approval, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyEquipment. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-five (45) calendar days of the loss occurrence, (a) Borrower fails to notify Lender and Issuer; Lender; (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property equipment or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment that is not repaired or replaced shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.. Exhibit 10.18.14 - 30

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("“Damaged Property"Equipment”), Borrower shall as soon as practicable after such event either: : (a) replace the same at Borrower's ’s sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender’s approval, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyEquipment. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) 15 calendar days after the loss occurrence. If, within forty-five (45) 45 calendar days of the loss occurrence, , (a) Borrower fails to notify Lender and IssuerLender; (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property equipment or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment shall be made available by Lender to be applied to discharge Borrower's ’s obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's ’s interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.“

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any material loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged PropertyEquipment"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or prior (b) pay the applicable Prepayment Amount of the Damaged Property. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-five (45) calendar days of the loss occurrence, (a) Borrower fails to notify Lender and Issuer; (b) Borrower, Issuer and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property equipment or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment promptly shall be made available by Lender to be applied to discharge Borrower's obligation under this Article, and any Net Proceeds in excess of the amounts necessary to satisfy Borrower's obligations under this Article shall be paid to Borrower. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower Lessee shall provide a complete written report to Lender and Issuer Bondholder immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional Collateral. If all or With respect to any part of the Project or Additional Collateral is lostDamaged Collateral, stolen, destroyed or damaged beyond repair ("Damaged Property"), Borrower Lessee shall as soon as practicable after such event either: : (a) replace the same at Borrower's Lessee’s sole cost and expense with property collateral having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Collateral immediately prior to the time of the loss occurrence, such replacement collateral to be subject to Bondholder’s approval, whereupon such replacement equipment collateral shall be substituted in this Lease Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyCollateral Amount. Borrower Lessee shall notify Lender and Issuer Bondholder of which course of action it will take within fifteen (15) 15 calendar days after the loss occurrence. If, within forty-five (45) 45 calendar days of the loss occurrence, , (a) Borrower Lessee fails to notify Lender and IssuerBondholder; (b) Borrower, Issuer Lessee and Lender Bondholder fail to execute an amendment to this Lease Agreement to delete the Damaged Property Collateral and add the replacement property collateral or (c) Borrower Lessee fails to pay the applicable Prepayment Damaged Collateral Amount, then Lender Bondholder may, at its sole discretion, declare the applicable Prepayment Damaged Collateral Amount to be immediately due and payable, and Borrower Lessee is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Collateral shall be made available by Lender Bondholder to be applied to discharge Borrower's Lessee’s obligation under this Article. The payment of the Prepayment Damaged Collateral Amount and the termination of Lender's Bondholder’s interest in the Damaged Property Collateral is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.“

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged PropertyEquipment"), Borrower shall as soon as practicable after such event either: either (a) replace the same at Borrower's sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender's approval, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyEquipment. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-forty- five (45) calendar days of the loss occurrence, , (a) Borrower fails to notify Lender and Issuer; Lender, (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property or equipment or, (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is shall be required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" Proceeds shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' attorney's fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged PropertyEquipment"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender's approval, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyEquipment. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, If within forty-five (45) calendar days of the loss occurrence, , (a) Borrower fails to notify Lender and Issuer; Lender, (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property equipment or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. hereof For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower (a) The Town shall provide promptly notify Truist if any of the following events (a complete written report “Collateral Loss Event”) occurs: (i) the Mortgaged Property or any portion thereof is stolen or is destroyed or damaged by fire or other casualty, (ii) a material defect in the construction of the Mortgaged Property becomes apparent, or (iii) title to Lender and Issuer immediately upon any loss, theft, damage or destruction the use of all or any portion of the Equipment Mortgaged Property shall be lost by reason of a defect in title. Each notice shall describe generally the nature and extent of such damage, destruction or Additional taking. (b) If the Net Proceeds arising from any single Collateral Loss Event, or any single substantially related series of Collateral Loss Events, is not more than $100,000, the Town shall retain the Net Proceeds and of any accident involving any portion apply the same to the prompt completion, repair or restoration of the Equipment or Additional Collateral. Mortgaged Property, and shall promptly thereafter report to Truist regarding the use of such Net Proceeds. (c) If all the Net Proceeds arising from any single Collateral Loss Event, or any single substantially related series of Collateral Loss Events, is more than $100,000, then the Town shall cause the Net Proceeds to be paid to an escrow agent (which shall be a bank, trust company or similar entity exercising fiduciary responsibilities) designated by Truist for deposit in a special escrow fund to be held by that escrow agent. The Town shall thereafter apply Net Proceeds (i) to the prompt repair or restoration of the Mortgaged Property (and pay any costs in excess of Net Proceeds, if necessary), or (ii) together with other available funds as may be necessary, to the prepayment of all outstanding Required Payments pursuant to Section 3.03. The Town shall promptly report to Truist regarding the use of Net Proceeds. (d) Any repair, restoration, modification, improvement or replacement paid for in whole or in part out of Net Proceeds shall be the Town’s property and shall be part of the Project or Additional Collateral is lost, stolen, destroyed or damaged beyond repair ("Damaged Mortgaged Property"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property having substantially similar specifications and of equal or greater economic value, utility and useful life to the Damaged Property immediately prior to the time of the loss occurrence, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged Property. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-five (45) calendar days of the loss occurrence, (a) Borrower fails to notify Lender and Issuer; (b) Borrower, Issuer and Lender fail to execute an amendment to this Agreement to delete the Damaged Property and add the replacement property or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional CollateralEquipment. If all or any part of the Project or Additional Collateral Equipment is lost, stolen, destroyed or damaged beyond repair ("Damaged PropertyEquipment"), Borrower shall as soon as practicable after such event either: (a) replace the same at Borrower's sole cost and expense with property equipment having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Equipment immediately prior to the time of the loss occurrence, such replacement equipment to be subject to Lender's approval, whereupon such replacement equipment shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyEquipment. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) calendar days after the loss occurrence. If, within forty-five (45) calendar days of the loss occurrence, (a) Borrower fails to notify Lender and Issuer; Lender; (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Equipment and add the replacement property equipment or (c) Borrower fails to pay the applicable Prepayment Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Equipment shall be made available by Lender to be applied to discharge Borrower's obligation under this Article. The payment of the Prepayment Amount and the termination of Lender's interest in the Damaged Property Equipment is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.

DAMAGE AND DESTRUCTION; USE OF NET PROCEEDS. Borrower shall provide a complete written report to Lender and Issuer immediately upon any loss, theft, damage or destruction of any portion of the Equipment or Additional Collateral and of any accident involving any portion of the Equipment or Additional Collateral. If all or With respect to any part of the Project or Additional Collateral is lost, stolen, destroyed or damaged beyond repair ("Damaged Property")Collateral, Borrower shall as soon as practicable after such event either: : (a) replace the same at Borrower's ’s sole cost and expense with property collateral having substantially similar specifications and of equal or greater economic value, utility and useful life value to the Damaged Property Collateral immediately prior to the time of the loss occurrence, such replacement collateral to be subject to Lender’s approval, whereupon such replacement equipment collateral shall be substituted in this Agreement and the other related documents by appropriate endorsement or amendment; or (b) pay the applicable Prepayment Amount of the Damaged PropertyCollateral Amount. Borrower shall notify Lender and Issuer of which course of action it will take within fifteen (15) 15 calendar days after the loss occurrence. If, within forty-five (45) 45 calendar days of the loss occurrence, , (a) Borrower fails to notify Lender and IssuerLender; (b) Borrower, Issuer Borrower and Lender fail to execute an amendment to this Agreement to delete the Damaged Property Collateral and add the replacement property collateral or (c) Borrower fails to pay the applicable Prepayment Damaged Collateral Amount, then Lender may, at its sole discretion, declare the applicable Prepayment Damaged Collateral Amount to be immediately due and payable, and Borrower is required to pay the same. The Net Proceeds of insurance with respect to the Damaged Property Collateral shall be made available by Lender to be applied to discharge Borrower's ’s obligation under this Article. The payment of the Prepayment Damaged Collateral Amount and the termination of Lender's ’s interest in the Damaged Property Collateral is subject to the terms of Section 2.07 hereof. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim or condemnation award after deducting all expenses (including reasonable attorneys' fees) incurred in the collection of such claim or award.“