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$~,_ ~)f~''470 equipment to the full insurable replacement value thereof, and with a separate loss payable endorsement in favor of the Mort- gagee, Trustee or Beneficiary of each unit. Suzh policy or policies shall permit the waiver of subrogation and shall pro- vide that the insurance company or companies will not look to the board of directors or other governing body of the asso- ciation or any unit owner for the recovery of any loss under said policy or policies. Such policy or policies shall not be cancelabic+ except after tan (IO} days written notice to 'the Lender and in the case of a Deed of Trust both to the Trustee and the Lender and a copy of a duglicate of such policy or policies shall be deposited with the Lender and in the case of a Deed of Trust tooth the with evidence of the Trustee and Lender payrtz,ent of premiums axed with renewal policies to bye deposited with the Lander and. in the case of a Deed of Trust both tize Trustee and Lender nat. later than ten (lpi days prior to the expiration oP existing policies. Tn the event that the policy ar policies of inasurance maintained by the board of directors or other governing body insures the Property only on a contingent or conditional .basis which requires the individual unit owner to provide his own insurance on his unit, then the 3orrower shall do so in the ma,-ener stated in paragraph 5 0€ t;:e t~lortyage or Deed o€ Trust. Anything hereinabove to the contrary actwithstanding, in the event the board of directors ar ether. :overr:ing bod,• or Borrower fails or re€uses to provide the insurance coverage a€; ataove provided, the Lender, at its eLecti.on, crnay prr~vide fire insc:r- ance wit3t extended coverage.. vasxa~s:x a~ e,nd rya r~.tau mischi~;<t endorsements coverin4, t~~v ~ - a,nd ftta^ o$ a rt.;~ tr-rr r5~ ' _ ~ K &3erneft i' acid. file a emium M-: trf 3r t,o zit ii.7~ ~ c:iar}• ti rxadt:btec:ssess,~ s+=sur s Yaerec°r. .si n ~ ~f tine dirr~etcrs x in t:. tae r+ver:t tP, et. th_, t,rard o€ or s:arA~uz govaerru rg ~vsc~~~r+ dasa".a fzar'ni,ii insurar.::e 1n ti'ysr entire i:uild~.ng and Lee proper~r' us grove provided and in the event og damage to or destruction of the building or any part thereof or of the Property, the i,ender shall, if the pro- ceeds of insurance collectible by theooard of directors or other governing body are suf€icient to repair or restore the building and such restoration ~r repair is economicall_= and the security of this ^SOrt.gaye or Deed of '"rust noteasible thereby imgaired, permit the proceeds a€ svseki insu,rar~ce air`.ect- ing the Property to t>e disoursed b„ other ~yovernin x etas board of ~direrctors ;-~ kfre building. g ~dy for th4 purpose a€ rti~-~airiny anti rNstorin~a 3. The iorrower shall due era ~ promptly p<ry, -~s thr _ ~ payable, ail payments to the maintenance and reserve fins and all assessments as required ay the !9aster Deed, Bylawa; .,and the beard of diresr. _ 7rS ~r " -' yiiv'u rn 1:SC: CJ~Q}• +~,rad siaali promptly ikon ~iessan4+ cxtrihit~tolt]~e %ertu€r reo.ipts f~?r al.l, s;;cf~ payments. In the event ,,na; the scrs'ower fails to ~e a~uch Payments as the sameaeco:aerdue and :payable, the :.,envier rsay from time tei time, at its option but without a n;' obligation sd to do, and without notice to or de,~nd upon ties isc;c°rowar. Weeks such payments, grid the s,am;, 4 aecur+ed hereby, and she ,l ~ "'4lI .~ waded to the debt l bear interest= ur:til *-epa:d :~ °he rata of 11.IJG~ pv=r annum; providcc5, r;awever, ~.ai the far.ure