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evidence and secure Developer's obligation to use all amounts disbursed for the diligent <br />restoration of the Property. <br />(d) No Event of Default shall remain uncured. <br />906.5 Method of Disbursement and Undisbursed Funds. <br />Any Proceeds and Shortfall Funds to be disbursed to Developer shall be held by City and <br />disbursed in accordance with then customary disbursement procedures and related provisions. <br />Any amounts remaining undisbursed following completion of such restoration shall be returned <br />to Developer up to the amount of any Shortfall Funds deposited by Developer, and any other <br />amounts remaining shall either be paid to Developer or applied by City against any obligations to <br />City that are secured by a lien on the Property, as they elect in their sole and absolute discretion. <br />906.6 Failure to Satisfy Conditions. In the event that Developer fails tofulfill <br />the Restoration Conditions within one hundred twenty (120) days (unless extended pursuant to <br />Section 19.5) following the date on which the damage occurs, the Proceeds shall be applied by <br />City against any obligations to City that are secured by a lien on the Property, and the selection <br />of which such obligations to apply the Proceeds against shall be made by City in their sole and <br />absolute discretion. <br />906.7 Restoration. Nothing in this Article 19 shall be construed to excuse <br />Developer from repairing and restoring all damage to the Property, regardless of whether <br />insurance proceeds are available or sufficient. <br />906.8 Condemnation; Treatment of Compensation <br />Subject to any superior rights of Senior Lender, Developer hereby assigns to the City, as security <br />for all obligations to City secured by a lien on the Property, all amounts payable to Developer in <br />connection with any Condemnation, and any proceeds of any related settlement (collectively, <br />"Compensation"). Subject to any superior rights of Senior Lender, Developer shall deliver such <br />remaining Compensation to City immediately upon receipt. If the taking results in a loss of the <br />Property to an extent that, in the reasonable opinion of City, renders or is likely to render the <br />Property not economically viable or if, in City's reasonable judgment Developer's security is <br />otherwise impaired, City may apply the Compensation received due to judgment or settlement in <br />connection with any condemnation or other taking to reduce the unpaid obligations secured in <br />such order as City may determine, and without any adjustment in the amount or due dates of <br />payments due under the Note. If so applied, any award in excess of the unpaid balance of the <br />Note and other sums due to City shall be paid to Developer or Developer's assignee. City shall <br />have no obligation to take any action in connection with any actual or threatened condemnation <br />or other proceeding. <br />(a) Notwithstanding the foregoing, as long as the value of City's liens are not impaired, <br />any condemnation proceeds may be used by the Developer for repair and/or restoration of the <br />Project. <br />20 <br />