Loss Proceeds. In the event of a casualty or Taking with respect to the Mortgaged Property, all of Borrower’s interest in Loss Proceeds shall be paid directly to the Collection Account. Subject to the provisions of Section 5.1(x) of this Agreement, whereby Loss Proceeds may in certain cases and upon satisfaction of the terms and conditions set forth in
Appears in 5 contracts
Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)