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<br /> 89-- 106556
<br /> Sorrower that the insurance carrier offers �o settlQ a c"laim for
<br /> (� insurance benefita, Lender is authorized to collect and appl.y the
<br /> i inaurance proceeds at Lender's option either to restoration or repair
<br /> of the Property or to the suma secured by this Daed of Trust.
<br /> Unless Isnder and Borrower otherwise agree in writinq, aray such
<br /> application of proceeda to principal shall not extend or postpone the
<br /> due date of the monthly installments referred to in Paraqraphs 1 and 2
<br /> hereof or change the amount of such installments. I� under Paragraph
<br /> 18 hereof the Property is acquired by Lender, all right, title and
<br /> � interest of Borrower in and to any insurance policies and in and to
<br /> the proceeds thereof resulting from damage to the Property priar to ,
<br /> the sale or acquisition shall pass to Lender to the extent of the aums
<br /> secured by this Deed of Trust 3mm�diately prior to such sa�e or
<br /> acquisition.
<br /> b. PRESERVATION AND I�AINTENANCE OF PROPERTY; LEASEROLQS;
<br /> CONDOMINIUMS; PLANNED DNiT DEVSLOPI�NTS. Borrower shall keep th�
<br /> � Property in good repair and shall not commit waste or permit
<br /> impairment c�s deterioration of the Property and sha11 comply with the
<br /> ' grovisions of any lease if this Deed of Trust is on a leasehold. If
<br /> � this Deed of Trust is on a unit in a condominium or a planned unit
<br /> ; development, Borrower shall perform all of Borrower's obligations
<br /> ; under the declarations or covenants creating or governing the
<br /> condominium or planned unit development, the by-laws and regulations
<br /> of the condominium or planned unit development, and constituent �
<br /> documents. If a condominium or planned unit development rider i�
<br /> executed by Borrower and recorded together with this Deed of Trust, ': ;
<br /> the covenants and agreements of such rider shall be incorporated into ; :'�
<br /> and shall amend and supplement the covenants and agreements of this ;.:`--
<br /> - Deed of Trust as if the rider were a part hereof. ��� - -
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<br /> � 7. PROTECTSON OF LENDER�S SEC[JRITY. If Borrower fails to "
<br /> perform the covenants and agreements contained in thi� Deed of Trust,
<br /> or if any actian or proceeding is commenced which materially affects .
<br /> Lender's interest in the Pr.operty, including, but not limited to,
<br /> eminent domain, insolvency, code enforcement, or arrangements or -
<br /> proceedings involvinq a bankrupt or decedent, then Lender at Lender's
<br /> option, upon notice to Borrower, may make such appearances, disburse
<br /> , such sums and take such action as is necessary to protect Lender's
<br /> � . interest, including, but not limited to, disbursement of reasonable
<br /> attor�eys' fees and entry upon the Property to make repairs. •
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<br /> � Any amounts disbursed by Lender pursuant to this Paragraph 7, ' �:;`'
<br /> with interest thereon, shall become additional indebtedness of
<br /> Borrower secured by this Deed of Trust. Unless Borrower and Lender 1�=
<br /> agree to other terms of payment, such amounts shall be payable upon �< r�•
<br /> notice from Lender to Borrower requestinq payment thereof, and shall
<br /> bear interest from the date of disbursement at the rate of SIXTEEN AND - -
<br /> THREE-QUARTERS PERCENT (16.75�) , unless payment of interest at such
<br /> rate would be contrary to applicable law, in which event such amounts
<br /> shall bear interest at the highest rate permissible under applicable
<br /> , law. Nothing contained in this Paragraph 7 shall require Lender to
<br /> � incur any expense or take any action hereunder.
<br /> • 8. INSPECTION. Lender may makd or cause to be made reasonable
<br /> � entries upon and inspections of the Property, provided that Lender
<br /> shall give Borrower natice prior to any such inspection specifying
<br /> reasonable cause thereof related to Lender's interest in the Property.
<br /> ' 9. CONDEL�dATION. Al1 moneys and awards payable as damages �
<br /> and or com ensation for the takin of title to or �
<br /> / p g possession of, or �
<br /> for damage to, or on account of change of grade affecting, any portion I ��
<br /> of the property subject to this Deed of Trust by reason of any �
<br /> condemnation, eminent domain, change of grade, or other proceeding
<br /> L sha11, at the option of the Lender, be paid ta the Lender, and such
<br /> moneys and awards are hereby assigned to Lender, and judgment therefor
<br /> shall be entered in favor of Lender, and when paid shall be used at
<br />= its o tion toward the ^'
<br /> p payment of any indebtedness, taxes, assessments, �
<br />° repairs ar ather items for �ti� payment of which this Deed of Trust is
<br /> given as secuxity, whether the �ame be then due or not and in such r'
<br />� order or manner as Lender tn�y determine, and any amount nat so usec3 `' '
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