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r nti y r Larla~a±v w y: r.?31Wma w r .Y c 'ra~.~ Nfr-i 4AK, a -W{tc, x 002.8.3. 84 combined single limit. Rental value Insurance eeKual to the rental value for a six month period, as established 'by a Cc"netent insurance appraiser, sha I 1 also be carried throughout the term of the loan. The Insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided that such approval shall not be unreasonably withheld. All premium on insurance policies shall be paid In the manner prov 1 ded under Paragraph 2 hereof, or, If not paid In such manner, by Borrower making payment, when date, directly to the insurance carrier. In the event arty policy is not renewed on or before ten (19) days of its expiration, the Lender, to protect Its interest, may procure insurance on the improvements, pay the premiums and such sums shall became twedlately due and payable with interest at the rate set forth in said note until paid and shall be secured by this Deed of Trust. Failure by Borrower to comply may, at the option of Lender, constitute a default under the tears of this Deed of Trust. All insurance policies and renewals thereof shall be In form acceptable to Lender and shall include a standard mortgage clause In favor of and in form acceptable to Lender. Lender shalt have the right to hold the Policies and renewals thereof, and Borrower shall promptly furnish to Lender all renewal notices and all receipts of said premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender my make proof of toss if not made promptly by Borrower. Unless Lender and Borr(-mer otherwise agree in writing.. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is ecorramlcally feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be froalred, the insurance proceeds shall he applied to the sum: secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within thirty (30) days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option ether to restoration or repair of the Property yr to the sums secured by this N:ed of Trust. Unless Lender and Borrower otherwise agree In writing, eny such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in Paragraphs I and 2 hereof or chArK;e the amount of such instni lments. If under Paragraph 18 hereof the Property is acrnulred by Lender, all right, title &-A Interest of Borrower in ant to any Insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust Immmdiately prior to such sale or acquisition. 6. PRESERVATION AND MAINTENANCE OF PROPEPTY LFASEHOLDS; CONDOM IN i LMS; PLANNED UN i T DEVELOP ANTS . Borrower sha l i keep 1:he Property In good repair and shall not commit waste or permit impairment or deterioration of the Property wnd shall comply with the provisions of any lease If this Deed of Trust Is on a leasehold. If this Deed of Trust is on a unit In a condominiun or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit develor"nt, the bye-lews and regulatlons of the condominlun or, planned unit deveiotment, and constituent documents. If `a rwidomInitm or planned unit deveylcoyWnt rider Is executed by Borrower and recorded together with this Deed of Trust, vv covenants aril agreements of such rider shall br Incorporated Into evil shell' amend arrd suppl ment Lhe covenants end agreements of this Deed of Trust aw If the rider waro a start hereof. 7. PROTECTION OF LENDER'S SMURITY. If Borrower falls to perform the covenants nry1 atlreements contained In this Deed of Trust, or if any action or proceeding Is commenced which materially affects Lender's Interest In the Property, including, but not limited to, eminent dcrrviln, insolvency, code enforcement., or arrangements or proceedings involving a -3-