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~-,. -~. a -;l~l~~~ .~ 2 equipment to the full insurable replace~~ent value thereof, and with a separate loss payable endorsement in favor of the Mort- gaaee, trustee or 3eneficiary of each unit. Such policy or policies shall permx*_ the waiver of subrogation and shall pro- vide that the insurance company or companies grill not look to the toard of directors or other governing body of the asso° ciation or a.ny unit owner rar the recovery of any less under Said policy ar policies. Suds policy cr policies sh311 not be cancelable except after ten t10} days' written notice to the bender and in the ease of a Deed of Trust both to the Trustee and the Linder and a copy of a duplicate of such policy or policies shall be deposited with the Lender and in the case of a Deed of Trust both the Trustee and Lender with evidence of the payment of premiums and with renewal policies *_o be deposited with the Lender and in the case of a Deed of Trust both the Trustee and Lender nat later than ten {10} days prior to the expiration oz existing policies. ._, : .,nt in_ies of insurance Fn tt:e went tlsac the pu~~~y ar ~_____-- -- maintained by the board of directors or other governing body insures the Property only on a contingent or conditional basis which requires the: indzvsduai unit awner to provide his own .insurance ;3n his unit, then the Barrower shall do sa in the manner statr~d isa paragraph 5 of the Aiortgaga or [deed of Trust. ~nythzng h~reinabave to the contrary notwitiistandinq, in the event this :oard s~f =iii€,c tors qtr ::ther ~iov:?rninu t~ody or borrower fails or refuses to prov:.de ttse ~-nsurance vcveragem as above provided, the Lender, at its electian, :gay prov~.de fize insur- ance with ~:;etendeci caver~ye, v3ndaiism and malicious misch:.ef e::dorgements ccsverxnct the Proi,urty lar its benefit as Beneficaary and may add the premium th~rezor ts~ the unpar~. balance of *he: ind+abtadness scour:=+d hsr~=hy. In the event that =t=~ b:~aru of directors or otner governing body doex; furrisk; insurance on ~nd . t h~ =~,trre bu3_d.any ~-__ die ~'rvi;erty as above pruv~.ded a,. ~,. ~. ~ t>Y~'-r cji ~%iikitivil ~6. Sd~ny yr 3nV ~.hz ~:'~e€t ~s damage =, s°~ :.a;.. b== -- ~ Le ;.s'~z Thal l . i€ the pro- part tl~C~C7S iJL i.iL the ^ra~ ~~ _3?, u ~~~-d of ='ir~otc~rs or i:80dS ~ lnot:r.^~31~e ~e+lles:.~i%l~ by L..-~ --»- °_ other governing bony are sufficient to repair or restore the building and such reastoratian or repair is economically feasible end, they security of this !mortgage or Deed of Trust i5 not thereby i~raired, permit thy: praceeds of such insurance affect- ing the 1'ropercy to be dz.shursed by the board of directors or other governing} body _*"or the purptrse of repairing and restoring th® buildirsg. 5. The Eiorrow~:r shah c~romptly ~,ay, as the same berame da~~ snd payable, all payments to thv xwscit2rsanc~ acsc~ ;esexve funds anti all asmess~nts 3s reciuired i;y the Master Deed, bylaws and the board of directors or other governing body a sn~1l prc~tly us3ar. demand exhibit to the Lender reci~ipts for a,il such payments. '_:: tise event that the t~orrawer fails to mane such payments as the same becom*a due and payable, the Lender ~y from tii~ to tip, at its <>ptian but withaut any oi~liuatzon sc~ to des, and withaut notice to or deux~nd upon the i3arrcawer, eke such paynta: and the s$ shall be added to the detzt ssc;ure$d hereY~y, and :hall bear interest until repaid at the rate o4 i1.00i i~z annu:a; ;:.ravided, haw+~ver, that the Laiiure