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<br /> sh�ll IlkAwise be delivered to the Beneflclary at least 15 days beforo the
<br /> expiration�f any existiny policles;
<br /> (il) All insurance policies shall include standard (oss payable clauses in t�avor
<br /> of the Ben�ficiary and shall p�avide that the same mey not be canceled or
<br /> te��natted wfthout giving �II� Beneflciary at leasx 30 days prior w�itten
<br /> � rr��i�e�f,�a�����cellatu��,Qr te�nriination;
<br /> . (�ii� Shoukl�he Bo�rrrs��fail to insure ar faiG to pay the,�rr��.rim,���n any such
<br /> � � � insurca� �r 'raii io deliver �ine poiicies ar rea�!��."51'•i�iIi}1'Bft?Ot i35 �ll'l`1VIf�Est�J
<br /> �'��`� .� aba�r�, R�� E�e�eficiary at its option may havm��uct� l�nsurance written or
<br /> ����''� renew�d and�a�,�t�3�e premiums th�r�r��or the a�count of�th�Borrower,
<br /> :'� .
<br /> � �Iv� In th�event ofi t�s� ar da,r�m�e, the prooeeds o`f �sald insuranoe shall be
<br /> paid to the Beneflciary ��,��ne. �No such loss ar dar»age shall itself rec3�ii�e
<br /> ` the balanc� of the indt��it�:�:�;lness secured heroby. The Beneficiary ia
<br /> �•<< authorized to adjust and c,��i�promise such lass without tho consent of the
<br />��:':;:';; � �� � � BorraWer,to collect, reoel�i�e and receipt for such,proceeds.in�he nann�af
<br /> ,�;;; the �Eaeficiary and the B�rrower and to en�d�i�se the Bomowers �name
<br /> f;�; upore�a�y check in payment thereof. �n the ev�m4 of such loaa or dam�y�;
<br /> ;�;�� . such proceeds.shal!be applied firet t�'�•r:�md-rsir�nl�ursement of all c�sts anci • � ..
<br /> � . expenses of t�i� Beneficiary in colle�4�i:r�� gaid:pm�eeds and then ta�rdl� �c;'`
<br /> f pay��n� of t�ae�lndebtedness secured hereby or any portian tt�e��cE:c�.t, ,
<br /> ; whe�t��r �r not then due ar payablQ, or the Beneficiary et its optian";�nn�?f � .. �
<br /> � apply said ins�,�U�nce proceeds, or any part theroof� to the repai� br ' '
<br /> � rebuilding of ttie �Innprovement. No such �pplic;a�on Qf pmceeda by the
<br /> �� Beneficiary toward'payrr�nt of tt�e Indebtedness secured heroby shall
<br /> reduoe the amount of th���innatallmant payments raquined to be made on
<br /> :� the Note in accordance wit�i its terms; .
<br /> �Y .
<br /> t"� (v} In the event of a foreclosur� of this a�ed of Tn�st, the purchaser of the
<br /> ��ti . Property sfiall sur.oee,d to all of the rights o# �fi�� goRawer unde� :sa�d
<br /> ' insuranr.e policies payabie to the Beneficiary, including any rigl�it `��r�
<br /> .'; uneamed premiums and the right to receive the prbceesls of .�ny
<br /> � �: Insurance payable by reason of any loss theretotor�: sa�� t�ter
<br /> ` occurring; � � � � .
<br /> . (� �iabilitv Insuran�e. Carry �a�n�. keep in foroe, �i,�h respfx�s�le �. � �
<br /> . insurets, insu�ance covering the Property in aro�,r+nts, determined b�r Beriefidary� ta :
<br /> �. protect 8orrawer against (fj liability by reason oi � deaft� o� injury of persons� or �
<br /> damage t�the propertY of others, wnrking on ar i� connection with the Property; (ii)
<br /> public I�bilily generally by reasan of the deatt� �r:�r��ury of persons ar damage ta the
<br />' propex�t���f others; ((ii)I(ab�ifr�i�rising under any u���:�'�et's oompensatio�n �r similar lawa;
<br /> ' and (iv)gny ot��bsks wh�may from time to tunv� be requested by Ber�e�iciaay to be
<br /> � insured agains����J,�'o insuranoe,whe�appropraate,to be�payrable to Baxrowe+r ar.r�;�y
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