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<br />200802659 <br /> <br />Secured Party. In any case where pursuant to Section 1.4 and Section 1.7 hereof Secured Party <br />elects to apply the proceeds to repair or restoration, the proceeds shall be held by Secured Party <br />to defray the costs of such restoration or repair under such safeguards and controls as Secured <br />Party may reasonably require to assure completion in accordance with the approved plans and <br />specifications and free of liens or claims. Borrower shall on demand deposit with Secured Party <br />any sums necessary to make up any deficits between the actual cost of the work and the proceeds <br />and provide such lien waivers and completion bonds as Secured Party may reasonably require. <br />Any surplus which may remain after payment of all costs of restoration or repair may at the <br />option of the Secured Party be applied on account of the indebtedness secured hereby then most <br />remotely to be paid, whether due or not, without application of any prepayment premium or shall <br />be returned to Borrower as its interest may appear, the choice of application to be solely at the <br />discretion of Secured Party. <br /> <br />1.9 Borrower's Records. With respect to the Property and the operations thereof, <br />Borrower will keep or cause to be kept proper books of record and accounts in accordance with <br />generally accepted accounting principles consistently applied. Secured Party shall have the right <br />to examine the said books of record and accounts at such reasonable times and intervals as <br />Secured Party may elect, upon not less than 48 hours prior written notice to Borrower. Borrower <br />will deliver to Secured Party from time to time as requested by Secured Party, certified copies of <br />financial statements for the Borrower and the Guarantor, and such other financial information as <br />required by the Secured Party, all in form and detail satisfactory to Secured Party. <br /> <br />1.10 Access to Property. Secured Party shall have access to and the right to inspect' the <br />Property at all reasonable times, upon not less than 48 hours prior written notice to Borrower. <br /> <br />1.11 Change in Taxation. In the event of the passage after the date of this Deed of <br />Trust of any law deducting from the value of real property for the purpose of taxation any lien <br />thereon, or changing in any way the laws now in force for the taxation of mortgages or debts <br />secured thereby, for state or local purposes, or the manner of the collection of any such taxes so <br />as to affect this Deed of Trust or the interest of Secured Party hereunder, then and in such event, <br />Borrower shall bear and pay the full amount of such taxes, provided that if for any reason <br />payment by Borrower of any such new additional taxes would be unlawful or if the payment <br />thereof would constitute usury or render the loan or indebtedness secured hereby wholly or <br />partially usurious under any of the terms or provisions of the Note, or this Deed of Trust, or <br />otherwise, Secured Party may, at its option, declare the Note and any other sums secured by this <br />Deed of Trust with interest thereon to be immediately due and payable, or Secured Party may, at <br />its option, pay that amount or portion of such taxes as renders the Note or other sums secured <br />unlawful or usurious, in which event Borrower shall concurrently therewith pay the remaining <br />lawful and nonusurious portion or balance of said taxes. <br /> <br />1.12 Transfer of or LienUpon the Property. <br /> <br />(a) The Borrower shall not without the prior written consent of Secured Party: <br /> <br />(i) transfer whether voluntarily, involuntarily or by operation of law, <br />title to any part of or any legal or equitable interest or full possessory right, in the <br /> <br />7 <br /> <br />AM 157:0AM57:667038:5:LOUISVILLE <br />3/20/08 <br />