Loss of Use of Property. If for any reason Borrower is unable to use all or any material part of the Property for the purposes intended as of the date of this Mortgage, including as a result of (a) failure to obtain or comply with any Permit required for the ownership or operation of the Property, (b) any change in any zoning Law, (c) the enactment, adoption or implementation of any Law, (d) a Casualty, if the related Casualty Insurance Proceeds are not used in accordance with the terms of this Mortgage to pay for the cost of the applicable Restoration, or (e) a Condemnation, if the related Condemnation Award is not used in accordance with the terms of this Mortgage to pay for the cost of the applicable Replacement, or (f) issuance of an order by any Governmental Authority;
Appears in 2 contracts
Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (Clipper Realty Inc.), Consolidation, Modification and Extension Agreement (Clipper Realty Inc.)