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<br /> 9. CAr►RGES, __�S. Borrower shaZl �aX al]. ta es, a�ses�meflts
<br /> � and ott�er aharges, finas and imposit3.ons attributable to the Property
<br /> , which �ray attain a priority over thia Deed of Trus�� and leasehold
<br /> payments or qround rents, i� any, in the manner pravided under
<br /> Paragraph ? hereoP, or, if not paid in such manner, by Borr.ower making
<br /> payment, when �lue, directly to the payee th�reof. Horrower shall
<br /> promptly furnish to Lender all notices of amounts due under this
<br /> paraqraph, and in the event Borrower shal]. make payments directly,
<br /> Borrower shall promptly furnish to Lender receipts evidencing such
<br /> payments. Horrower shall promptly discharge any lien which has
<br /> priority over this Deed of Trust; provided, that Borrower shall not
<br /> be required to discharge any such lien so long as Borrower shall aqree
<br /> in writing to the payment of the obligation secured by such �ien in a
<br /> manner acceptable to Lender, or shall in good faith contest such lien
<br /> by. or defend such enforcement of such lien in, legal proceedings
<br /> which operate to prevent the enforcement of the l�i.en or forfeiture of
<br /> the Property or any part thereof.
<br /> 5. INS�RANCE COVERAGES. Borrower shall keep the improvements
<br /> now existing or hereafter erected on the Property insured against lo�s
<br /> by fire, hazards included within the term "extended coverage", and
<br /> ' such other hazards as Lender may require, in an amount equal to the
<br /> full replacement value of the imprevements (80% co-insurance clause
<br /> permitted) , as established by a competent insurance appraiser.
<br /> Comprehensive general public liability insurance will also be
<br /> obtained, with a company acceptable to the Lender, for an amount not . -
<br /> less than $1,000,000.00 combined single limit. Rental value insurance
<br /> equal to at least 100$ of the gross rents for a 12 month period, as
<br /> established by Lender, shall also be carried throughout the tena of . _
<br /> the loan. The Property, if located in a 100-year flood plain, shall � =�-
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<br /> ° ' : also i�e covered, =or the term or the 3.oan, by f3ood insuraace in an - --
<br /> � amount at least equal to the outstanding principal balance of the � ~.
<br /> loan, or the maximum limit of coverage made available with respect to
<br /> this particular type of property, whichever is less. -
<br /> The insurance carrier providing the insurance shall be chosen by '
<br /> Borrower subject to approval by I,ender; provided that such approval -
<br /> shall not be unreasonably withheld. It is required that the insurance
<br />, . carrier hold a Policyholders Rating of at least B+ as set forth in the
<br /> : most current issue of Best's Key Rating Guide for property and
<br /> ' casualty companies. All premiums on insurance policies shall be paid
<br /> in the manner provided under Paragraph 2 hereof, or, if not paid in
<br /> such manner, by Borrower making payment, when due, directly to the �'`=
<br /> insurance carrier. � 3�.
<br /> In the event any policy is not renewed on or before ten (10) days i�„=_
<br /> of its expiration, the Lender, to protect its interest, may procure '
<br /> insurance on the improvements, pay the premiums and such sums shall �
<br /> � become immediately due and payable with interest at the rate set forth ---
<br /> in said Note until paid and shall be secured by this Deed of Trust.
<br /> Failure by Borrower to comply may, at the option of Lender, constitute
<br /> a default under the terms of this Deed of Trust.
<br /> � All insurance policies and renewals thereof shall be in form
<br /> . acceptable� to Lender and shall include a Lender's loss payable
<br /> � endorsement in favor of and in form acceptable to Lender. Lender
<br /> shall have the right to hold the policies and renewals thereof, and
<br /> � Borrower shall promptly. .Eurnish to Lender all renewal r►otices and all
<br /> receipts of said premiums. In the event of loss, Sorrower shall give
<br /> prompt notice to the insurance carrier and Lender. Lender may make r-===
<br /> proof of loss if not made promptly by Borrow�r. '
<br /> Unless Lender and Borrower otherwise agree in writing, insurance �
<br /> proceeds shall be applied to restoration or repair of the Property
<br /> damaged, provided such restoration or repair is economically feasible
<br /> � and the security of this Deed of Trust is not thereby impaired. If
<br /> such restoration or repair is not economically feasible or if the
<br /> security of this De�d of Trust would be impaired, the insurance �
<br /> , proceeds shall be applied to the sums secured by this Deed of T�ust, �
<br /> arith the excess, if any, paid to Barrower. If the Property is
<br />_ abandoned by Borrower, or if Borrower fails to respond to Lender �'
<br /> , within thirty (30) days from the date notice is mailed by Lender to r
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