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(c) Developer shall execute such documents as City reasonably <br />requires to evidence and secure Developer's obligation to use all amounts disbursed for the <br />diligent restoration of the Property. <br />(d) No Event of Default shall remain uncured. <br />19.6 Method of Disbursement and Undisbursed Funds. Any Proceeds and Shortfall <br />Funds to be disbursed to Developer shall be held by City and disbursed in accordance with then <br />customary disbursement procedures and related provisions. Any amounts remaining undisbursed <br />following completion of such restoration shall be returned to Developer up to the amount of any <br />Shortfall Funds deposited by Developer, and any other amounts remaining shall either be paid to <br />Developer or applied by City against any obligations to City that are secured by a lien on the <br />Property, as they elect in their sole and absolute discretion. <br />19.7 Failure to Satisty Conditions. In the event that Developer fails to fulfill the <br />Restoration Conditions within one hundred eighty (180) days (unless extended pursuant to <br />Section 19.5) following the date Proceeds are received, the Proceeds shall be applied by City <br />against any obligations to City that are secured by a lien on the Property, and the selection of <br />which such obligations to apply the Proceeds against shall be made by City in its sole and <br />absolute discretion. <br />19.8 Restoration. Nothing in this Section 19 shall be construed to excuse Developer <br />from repairing and restoring all damage to the Property in accordance with other Loan Document <br />provisions, regardless of whether insurance proceeds are available or sufficient. <br />19.9 Condemnation; Treatment of Compensation. Subject to any superior <br />rights of Senior Lender, Developer hereby assigns to the City, as security for all obligations to <br />City secured by a lien on the Property, all amounts payable to Developer in connection with any <br />Condemnation, and any proceeds of any related settlement (collectively, "Compensation"). <br />Subject to any superior rights of Senior Lender, Developer shall deliver such remaining <br />Compensation to City immediately upon receipt. If the taking results in a loss of the Property to <br />an extent that, in the reasonable opinion of City, renders or is likely to render the Property not <br />economically viable or if, in City's reasonable judgment Developer's security is otherwise <br />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 />19.9.1 Notwithstanding the foregoing, as long as the value of City's liens are not <br />impaired, any condemnation proceeds may be used by the Developer for repair and/or restoration <br />of the Project. <br />34 <br />A A <br />LFOODIM11 <br />