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2� 1 ��435 which, wit�i the giving of Notice or the passage of time, ar b�th, wau�d�onstitut� an E�ent o�' Default} has occurred and is cont�nuing; �2} Lender d�termines, in i�s d�sc�et�on, that ther�w��t be suff�cient funds t� c�mplet�the restoratian; (3� Lender determ�nes, in its dis�r�tion, t�at the renta� i�cnme from the Mortgaged Property aft�r c�mp�etion of the restorati�n will be suff cient t� m�et all operating costs and other expenses, Impasition I]eposits, deposits to reserves and loan repayment�bligat�ons relating tn the Mortgaged Prop�r�y; and (4} Lender determines, II7 lt5 discretion, that the restoratian w��1 be completed be�ore t�e earlier af�A) one�ear before the ma�urity date of the Not� ❑r(B� one year after the date af the I�ss �r ca�ualty. Fur�her, sa �ong as the Loan is insur�d by H�TI3, Lender may not exercise its �pti�n t� apply insurance praceeds to the payment�f the Indebtedness without the prior written appraval of HUD. If HUI] fails t� give its approval to the use �r application of suc�i func�s Within sixty �5�} c�ays after the written request by Lender, Lender may use ar apply such funds for any of the purposes specified herein with�ut the appr�val of HUD. �h� If the Mortgaged Property is so�d at a foreclosure sale or Lender�r HUI] acquire t�tle to the M�rtgaged Prop�rty, L�nder and HUI], as app�icable, shall aut�matically succeed ta al� rights of Borrower in and t� any insurance polic�es and unearned �nsurance premiums and in and to the proceeds of property damage insurance resulting from any damage to the Martgaged Praperty prior ta such sale or a�quisition. Z�. C�NDEMNATI�N. (a} Borrower sha1�pr�mptiy notify Lender�f any acti�n or pr�ceeding r�lating ta any c�nd�mnatian or ather taking, or conveya.nce �n lieu thereof, of a�l or any part nf the Mortgaged Property, whether direct or indirect condemnation. Borrower sha11 appear in and prosecute or defend any action or proceeding relating to any c�ndemnatron unless �therwis� directed by L�nder in writing. Borrow�r autharizes and app��nts Lender as attarney-in-fact for Barr�w�r to commence, appear in and prasecute, xn Lender's or B�rrower's name, any action or proce�ding re�atxng to any condemnati�n and to settle or comprom�se any claim in cann�ction With ar�y condemnation. This power af attorney is c�upl�d with an int�rest and therefore is irrevocable. H�wever, noth�ng c�ntained in this Secti�n 2� sha�l require Lender to incur any expense or take any acti�n. BorroWer hereby transfers and assigns to Lender a�l right, title an.d int�rest of Borrower�n and to any award ar payment With respect ta �1} any condemnation, or any conveyance in lxeu of condemnation, and �2� any damage ta the Mortgag�d Praperty caused by governmental action that d�es not result in a conden�ation. [b} A�1 awards of compensat�on in�onnection with candemnat�on for public use of ar a taking �f any of the Mortgaged Property shali be paid to Lender to be applied �I�to fees, casts and expenses (inciuding reasonable attorney's fees} �ncurred by Lender; and �2}to the am�unt due under the Note secured hereby �n (i� amounts equa�to the next matur�ng instai�ment�r �nstallments �f principai and (ii} with any balance to b� credited to the next payment du� under th�Not�. After payment to Lender of all fe�s, c�sts and�xpenses �including reasonable attorney's fees� incurred b� Lender under this Se�tion��, all awards of damages in cannect�on with any condemnation for public us� �f or damage to the Martgaged Prop�rty, sha11 be paid to Lender to b� appli�d to an account held for and on l�ehalf of Borr�wer, which ac�ount sha��, at the apt�on of Lender, either be appl�ed t� the amount du� under the Note as specified in the Previaus�ersions obsolete Page 25 form HL]D-94DDn-�RCF ��612�14}