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200802659 all repairs, renewals, replacements, additions and improvements in connection therewith which are needful or desirable to such end. After completion of any Improvements, they shall not be removed, demolished or substantially altered without Secured Party's prior written consent, except where appropriate replacements which are of value of at least equal to the value of the Improvements removed and which are free and clear of superior title, liens and claims, are immediately made. 1.6 Advance,s by Secured Party. (a) If Borrower shall fail to perform any of the covenants contained in Sections 1.1, 1.3. 1.4 and 1.5, Secured Party may, following written notice to Borrower and the expiration of a 10 day grace period following receipt of such notice, make advances to perform the same in its behalf, and all sums so advanced shall be a lien upon the Property and secured by this Deed of Trust. Borrower will repay all sums so advanced on its behalf with interest at the Default Interest Rate (as defined in the Note). The provisions of this Section 1.6 shall not prevent any default in the observance of any covenant contained in said Sections 1.1. 1.3. 1.4 and 1.5 from constituting an Event of Default (as hereafter defined) hereunder. (b) If Secured Party shall incur or expend any sums, including reasonable attorneys' fees permitted by law, whether in connection with any action or proceeding or not, to sustain the lien of this Deed of Trust or its priority, or to protect or enforce any of Secured Party's rights hereunder, or to recover any indebtedness hereby secured, all such sums shall become immediately due and payable by Borrower with interest thereon at the Default Interest Rate. All such sums shall be secured by this Deed of Trust and be a lien on the Property and the Improvements prior to any right, title, interest, or claim, in, to, or upon the same attaching or accruing subsequent to the lien of this Deed of Trust. 1.7 Condemnation. Borrower will give the Secured Party prompt notice of any condemnation or eminent domain action, actual or threatened, and hereby assigns, transfers, and sets over to the Secured Party the entire proceeds of any award or claim for damages for all or any part of the Property taken or damaged under the power of eminent domain or condemnation, the Secured Party being hereby authorized to intervene in any such action and to collect and receive from the condemning authorities and give proper receipts and acquittances for such proceeds. Borrower will not enter into any agreement with the condemning authority permitting or consenting to the taking of the Property unless prior written consent of Secured Party is first obtained. Any expenses incurred by the Secured Party in intervening in such action or collecting such proceeds shall be reimbursed to the Secured Party first out of the condemnation proceeds. The proceeds or any part thereof shall be applied upon or in reduction of the indebtedness secured hereby then most remotely to be paid, whether due or not, without the application of any prepayment premium, to the restoration or repair of the Property, or to any other obligation of Borrower to Secured Party, the choice of application to be solely at the discretion of Secured Party. 1.8 Disbursement of Insurance and Condemnation Proceeds. Any restoration or repair involving insurance or condemnation proceeds shall be completed under the supervision of an architect acceptable to Secured Party and pursuant to plans and specifications approved by the 6 AM 157:0AM57:667038:5:LOUISYILLE 3/20/08