NOTICE; ASSIGNMENT OF PROCEEDS. Trustor shall notify Beneficiary ------------------------------ immediately of the institution or threat of institution of any proceeding pertaining to the condemnation of any portion of the Trust Property. Beneficiary is authorized to participate in the settlement of all claims for damages to any portion of the Trust Property which relate to, and to collect any proceeds of any award which may be the result of, any eminent domain or condemnation proceeding.
Appears in 1 contract
Sources: Deed of Trust, Assignment of Leases and Rents, and Security Agreement (Mikohn Gaming Corp)
NOTICE; ASSIGNMENT OF PROCEEDS. Trustor shall notify Beneficiary ------------------------------ immediately of the institution or threat of institution of any proceeding pertaining to the condemnation of any portion of the Trust Property. Beneficiary is authorized to participate in the settlement of settle all claims for damages to any portion of the Trust Property which relate to, and to collect any proceeds of any award which may be the result of, any eminent domain or condemnation proceeding.
Appears in 1 contract
Sources: Deed of Trust, Assignment of Leases and Rents, and Security Agreement (Mikohn Gaming Corp)