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8 . 101487 by this Deed of Trust. Unless Borrower and Lender agree to other terms of i payment, such ammmits shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate of SEVER11IN PERCENT (17.00%), unless payment of interest at such rate would be contrary to applicable law, in which exw t such amm is shall bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. INSPECTION. Lender may make or cause to be made reasonable entries upon an inspections of the Property, provided that lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefore related to Lender's interest in the Property. 9. OCbZDFMMTION. All moneys and awards payable as damages and /or compensation tor the t-aldng of title to or possession of, or for damage to, or on account of change of grade affecting, any portion of the property subject to this Deed of Trust by reason of any condemnation, eminent domain, change of grade, or other proceeding shall, at the option of the Beneficiary, be paid to the Lender, and such moneys and awards are hereby assigned to Lender, and judgment therefor shall be entered in favor of Lender, and when paid shall be used at its option toward the payment of any indebtedness, taxes, assessments, repairs or other items for the payment of which this Deed of Trust is given as security, whether the same be then due or not and in such order or manner as Lender may determine, and any amount not so used shall be released by the Beneficiary to the Trustor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within thirty (30) days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds, ar lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in Paragraphs 1 and 2 hereof or change the amount of such installments. 10. BORROWER NOT RELEASED. Extension of the time for payment or modification of amortization ot the sums secured In, this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. FORBEARANCE BY 1124) ER NOT A WAIVER. Any forbearance by Lender in exercising any right or re re er, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Deed of Trust. 12. REMEDIES CIMIIATIVE. All remedies provided in this Deed of Trust are distinct and ative to any other right or remedv under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. 13. SUCZESSORS AM) ASSIGNS BOUND; JOINT AND SEVERAL LIABILITY CAPTIONS. covenants a agreements herein contain s 21 bind, a the righ is hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.. 7b,