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restoration, modification or improvement of the Property, evidenced by a certificate <br />signed by a City Representative. <br />(iv) In the event the City's determination is as set forth in clause (B) of <br />subparagraph (ii) above and the City certifies to the Assignees that such repair or <br />replacement can be completed within 24 months, such Net Proceeds shall be applied to <br />the prompt replacement, repair, restoration, modification or improvement of the <br />damaged or destroyed portions of the Property by the City, and until the Property has <br />been restored to its prior condition, the City shall not place any lien or encumbrance on <br />the Property that is senior to this Lease Agreement without the prior written consent of <br />the Assignees, at its sole discretion. <br />(b) Frorn Eminent Domain Award. If all or any part of the Property shall be taken by <br />eminent domain proceedings (or sold to a goverunent threatening to exercise the power of <br />eminent domain) the Net Proceeds therefrom shall be deposited by the City in the Insurance <br />and Condemnation Fund and shall be applied and disbursed as follows: <br />(i) If the City has given written notice to the Authority and the Assignees of its <br />determination that (A) such eminent domain proceedings have not materially affected <br />the operation of the Property or the ability of the City to meet any of its obligations <br />with respect to the Property under this Lease Agreement, and (B) such proceeds are not <br />needed for repair or rehabilitation of the Property, the City shall so certify to the <br />Authority and the Assignees, and the City shall credit such proceeds towards the <br />prepayment of the Lease Payments pursuant to Section 9.3 of this Lease Agreement. <br />(ii) If the City has given written notice to the Authority and the Assignees of its <br />determination that (A) such eminent domain proceedings have not materially affected <br />the operation of the Property or the ability of the City to meet any of its obligations <br />with respect to the Property under this Lease Agreement, and (B) such proceeds are <br />needed for repair, rehabilitation or replacement of the Property, the City shall so certify <br />to the Authority and the Assignees, and the City shall apply such amounts for such <br />repair or rehabilitation. <br />(iii) If (A) less than all of the Property shall have been taken in such eminent <br />domain proceedings or sold to a government threatening the use of eminent domain <br />powers, and if the City has given written notice to the Authority and the Assignees of <br />its determination that such eminent domain proceedings have materially affected the <br />operation of the Property or the ability of the City to meet any of its obligations with <br />respect to the Property under the Lease Agreement or (B) all of the Property shall have <br />been taken in such eminent domain proceedings, then the City shall credit such <br />proceeds towards the prepayment of the Lease Payments pursuant to Section 9.3 of <br />this Lease Agreement. <br />(iv) In making any determination under this Section 6.2(b), the City may, but <br />shall not be required to, obtain at its expense, the report of an independent engineer or <br />other independent professional consultant, a copy of which shall be filed with the <br />Authority and the Assignees. Any such determination by the City shall be final. <br />(c) From Title Insurance. The Net Proceeds from a title insurance award shall be <br />deposited by the City in the Insurance and Condemnation Fund and credited towards the <br />prepayment of Lease Payments required to be paid pursuant to Section 9.3 of this Lease <br />Agreement. <br />_22_ <br />