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security for Vista Del Rio's obligation hereunder and held and disbursed in the same manner as <br />the Proceeds. <br />(c) Vista Del Rio shall execute such documents as City requires to <br />evidence and secure Vista Del Rio's obligation to use all amounts <br />disbursed for the diligent restoration of the Property. <br />(d) No Event of Default shall remain uncured. <br />19.6 Method of Disbursement and Undisbursed Funds. <br />Any Proceeds and Shortfall Funds to be disbursed to Vista Del Rio shall be held by Agency/ City <br />and disbursed in accordance with then customary disbursement procedures and related <br />provisions. Any amounts remaining undisbursed following completion of such restoration shall <br />be returned to Vista Del Rio up to the amount of any Shortfall Funds deposited by Vista Del Rio, <br />and any other amounts remaining shall either be paid to Vista Del Rio or applied by City against <br />any obligations to City that are secured by a lien on the Property, as they elect in their sole and <br />absolute discretion. <br />19.7 Failure to Satisfy Conditions. In the event that Vista Del Rio <br />fails to fulfill the Restoration Conditions within ninety (90) 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 />19.8 Restoration. Nothing in this Article 19 shall be <br />construed to excuse Vista Del Rio from repairing and restoring all damage to the Property in <br />accordance with other Loan Document provisions, regardless of whether insurance proceeds are <br />available or sufficient. <br />19.9 Condemnation; Treatment of Compensation <br />Subject to any superior rights of Senior Lender, Vista Del Rio hereby assigns to the Agency and <br />City, as security for all obligations to Agency or City secured by a lien on the Property, all <br />amounts payable to Vista Del Rio in connection with any Condemnation, and any proceeds of <br />any related settlement (collectively, "Compensation"). Subject to any superior rights of Senior <br />Lender, Vista Del Rio shall deliver such remaining Compensation to City immediately upon <br />receipt. If the taking results in a loss of the Property to an extent that, in the reasonable opinion <br />of City, renders or is likely to render the Property not economically viable or if, in City's <br />reasonable judgment Vista Del Rio's security is otherwise impaired, City may apply the <br />Compensation received due to judgment or settlement in connection with any condemnation or <br />other taking to reduce the unpaid obligations secured in such order as City may determine, and <br />without any adjustment in the amount or due dates of payments due under the Note. If so <br />applied, any award in excess of the unpaid balance of the Note and other sums due to City shall <br />be paid to Vista Del Rio or Vista Del Rio's assignee. City shall have no obligation to take any <br />action in connection with any actual or threatened condemnation or other proceeding. <br />36 <br />80A-112 <br />