Effect on the Indebtedness. Notwithstanding any Condemnation, taking or other proceeding referred to in this Section causing injury to or decrease in value of the Premises (including a change in grade of any street), or any interest therein, Trustor shall continue to pay and perform the Obligations as provided herein. Any reduction in the Obligations resulting from the application to the Obligations of any proceeds, judgments, decrees or awards pursuant to Section 2.5.3 or 2.5.4 shall be deemed to take effect only on the date of receipt by Beneficiary of such proceeds, judgments, decrees or awards and their application against the Obligations, and the amount of all installment payments of the Obligations which thereafter become due shall be reduced and recalculated pro rata; provided that if prior to the receipt by Beneficiary of such proceeds, judgments, decrees or 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 following such sale, with legal interest thereon together with attorneys’ fees and disbursements incurred by Trustee and Beneficiary in connection with the collection thereof.
Effect on the Indebtedness. Any reduction in the Obligations resulting from the application to the Obligations of insurance proceeds shall be deemed to take effect only on the date of receipt by Beneficiary of such proceeds and the application of such proceeds to the Obligations; provided that if prior to the receipt by Beneficiary of such 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, notwithstanding any limitation on Trustor's liability contained herein or the other Transaction Documents, Beneficiary shall have the right to receive the same to the extent of any deficiency following such sale or conveyance, together with attorneys' fees and disbursements incurred by Trustee and Beneficiary in connection with the collection thereof. After payment in full of all Obligations, any excess insurance proceeds shall be delivered to Trustor for disposition in the manner set forth in the Lease.
Effect on the Indebtedness. Any reduction in the Secured Obligations resulting from the application of Insurance Proceeds or other funds pursuant to this subsection 4.6(f) shall be deemed to take effect only on the date of such application; provided that, if any Insurance Proceeds are received after the Mortgaged Property is sold in connection with a judicial or nonjudicial foreclosure of this Deed of Trust, or is transferred by deed in lieu of such foreclosure, notwithstanding any limitation on Borrower’s liability contained herein or in the Note, the purchaser at such sale (or the grantee under such deed) shall have the right to receive and retain all such Insurance Proceeds and all unearned premiums for all insurance on the Mortgaged Property. No application of Insurance Proceeds or other funds to the Secured Obligations shall result in any adjustment in the amount or due dates of installments due under the Note. No application of Insurance Proceeds to the Secured Obligations shall, by itself, cure or waive any Event of Default or any notice of default under this Deed of Trust or invalidate any act done pursuant to such notice or result in the waiver of any collateral securing the Note.
