Common use of Effect on the Obligations Clause in Contracts

Effect on the Obligations. Notwithstanding any loss, damage or destruction referred to in this Section, Grantor shall continue to pay and perform the Obligations as provided herein. Any reduction in the Obligations resulting from such application shall be deemed to take effect only on the date of receipt by Beneficiary or Trustee of such insurance proceeds and application against the Obligations, provided that if prior to the receipt by Trustee or Beneficiary of such insurance proceeds the Mortgaged Property shall have been sold on foreclosure of this Deed of Trust, or shall have been transferred by deed in lieu of foreclosure of this Deed of Trust, Beneficiary shall have the right to receive the same to the extent of any deficiency found to be due upon such sale, with legal interest thereon together with attorneys' fees and disbursements incurred by Trustee or Beneficiary in connection with the collection thereof. SECTION 1.10.

Effect on the Obligations. Notwithstanding any losscondemnation, damage taking or destruction other proceeding referred to in this SectionSection 1.10, Grantor shall continue to pay and perform the Obligations as provided herein. Any reduction in the Obligations resulting from such application shall be deemed to take effect only on the date of receipt by Beneficiary or Trustee of such insurance proceeds Awards and application against the Obligations, provided that if prior to the receipt by Trustee or Beneficiary of such insurance proceeds Awards the Mortgaged Property shall have been sold on foreclosure of this Deed of Trust, or shall have been transferred by deed in lieu of foreclosure of this Deed of Trust, Beneficiary shall have the right to receive the same to the extent of any deficiency found to be due upon such sale, with legal interest thereon together with attorneys' fees and disbursements incurred by Trustee or Beneficiary in connection with the collection thereof. SECTION 1.10l.1l.

Effect on the Obligations. Notwithstanding any loss, damage or destruction referred to in this Section, Grantor shall continue to pay and perform the Obligations as provided herein. Any reduction in the Obligations resulting from such application shall be deemed to take effect only on the date of receipt by Beneficiary Mortgagee or Trustee of such insurance proceeds and application against the Obligations, provided that if prior to the receipt by Trustee or Beneficiary Mortgagee of such insurance proceeds the Mortgaged Property shall have been sold on foreclosure of this Deed of TrustMortgage, or shall have been transferred by deed in lieu of foreclosure of this Deed of TrustMortgage, Beneficiary Mortgagee shall have the right to receive the same to the extent of any deficiency found to be due upon such sale, with legal interest thereon together with attorneys' fees and disbursements incurred by Trustee or Beneficiary Mortgagee in connection with the collection thereof. SECTION 1.10.

Effect on the Obligations. Notwithstanding any losscondemnation, damage taking or destruction other proceeding referred to in this SectionSection 1.10, Grantor shall continue to pay and perform the Obligations as provided herein. Any reduction in the Obligations resulting from such application shall be deemed to take effect only on the date of receipt by Beneficiary or Trustee of such insurance proceeds Awards and application against the Obligations, provided that if prior to the receipt by Trustee or Beneficiary of such insurance proceeds Awards the Mortgaged Property shall have been sold on foreclosure of this Deed of Trust, or shall have been transferred by deed in lieu of foreclosure of this Deed of Trust, Beneficiary shall have the right to receive the same to the extent of any deficiency found to be due upon such sale, with legal interest thereon together with attorneys' fees and disbursements incurred by Trustee or Beneficiary in connection with the collection thereof. SECTION 1.101.11.