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a <br />1­218716C <br />7--. 100603 <br />insurers, and Trustor hereby expressly assumes full responsibility <br />therefor and liability, if any; thereunder. In the event of loss, ,Trustor:- <br />sha€I give irntnediate wri-tten notice to Beneficiary, and Beneficiary may, . <br />=: <br />but is, not obligated to, make proof of loss if not made promptly by <br />Trustor. <br />(b) Except as hereinafter provided in Paragraph (c) below, in <br />case of any loss, the amount collected under any policy of insurance on <br />such property may, at the option of the Beneficiary, be applied by <br />Beneficiary upon any indebtedness and or obligations secured- hereby, <br />and in such order and amount as Beneficiary may determine; or said <br />amount, or any portion thereof may, at the caption of Beneficiary, either <br />be used in replacing or restoring the Improvements partially or totally <br />destroyed to a condition satisfactory to said Benef`csiary, or �aidl amount <br />or any portion thereof, may be .released to the 'Trustor, In any Suds , <br />e <br />event neither the 'Trustee nor the Bediefi+ciar�r 3ha€€ be obligated to see.: . <br />the proper application thereof;, nor shall the amount so released or used <br />&z{ <br />be deemed a pay -went on any indebtedness secured hereby, SucW <br />application, use, and/or release shall not cure or waive any East of <br />Default or ` notice of default hereunder or invalidate any act done .' <br />pursuant to such Mice. Any unexpired insure: and all returoabW <br />insurance Premiums. shalt inure :its benefit of, a s to. -the <br />purchaser of the property covered thereby .at. any Trustee's sate or <br />judicial foreclosure sate held hereaoder: If said property is sold <br />pursuant to the power of sale contained herein of pursuant to my , <br />decree of foreclosure, all right. title -aid interest of Trustor in and to <br />the proceeds insurance � -for �#! prior 6.R! 1171E <br />proceeds are not prior t th <br />" p veil pry tC> the date � said sale, <br />9 <br />(d } Notwithstanding the provisions of Paragraph (b) above, <br />r' <br />Beneficiary agrees that it trill perwit casttw in she proceeds to be <br />' <br />utilized for restoration anti €or repair- <br />(i) If the It s .to valise ram after completion of all work <br />(as estimated by Beneficiary in advance. based MPM the Unpaid, <br />principal mint of the Promissory %Ae and the vale of such <br />property) <br />shall not be greater than the loan to value ratio immediatey prior to the <br />daasualt^jr; <br />V <br />' <br />} <br />(ii) The casualty does not oilcan less than one (t) year <br />the <br />' Pry' to maturity - ate -o the Promissory Note; <br />- <br />'; <br />{iii) The cost of the repairs does not exceed <br />' <br />S3a8, 4tle ,:ill f <br />(iv) The leases of suctr prop" either remain irs . full <br />force and effect or are reptaced with leases of equal net income and <br />credit value; and <br />(v) The following specifs�, conditions are satisfied and <br />cnaptied with: <br />-4- <br />