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20i007�3G income, issues or profits, far the failure to assert or enforce any o:F the foregoing rights, nor shall the Authority be charged with any of the duties or obligations of a mortgagee in possession. The entering upon and taking possession of the Property, the collection of such rents, income, issues or profits, the doing of other acts herein authorized, and the application thereof, shall not cure or waive any Event of Default ar natice of default hereunder or invalidate any act done pursuant to such notice. S. Upon an Event of Default hereunder the Authority shall also be entitled to the appointment of a receiver by any court having jurisdiction, without notice, to take possession and protect the Premises described herein and operate same and callect the Rents therefrom. 6. In the event af any casualty loss or damage to the Prernises, or in the event of any condemnation of the Premises which r�quires restoration or replacement of the portion of the Premises so taken, the insurance proceeds or the Condemnation Awards will be paid to the Autharity. If the Subaward is not in monetary ar nortrnonetary Event of Default, and there are sufficient funds to repair or rebuild the Impravements from the insurance proceeds or the Condemnation Award, the funds will be released by the Authority far the repairing or rebuilding of the Premises. In the event the funds are insufficient to pay for the repairing or rebuilding of the Premises, the Authority will pay down the Subaward unless the Grantor provides sufficient funds together with the insurance proceeds or Condemnation Award to pay for the repairing or rebuilding of the Premises. 7. The Grant�r will keep the Improvements now existing or hereafter erected on the Premises insured against loss by fire and such other hazards, casualties, and contingencies, as may be stipulated by the Autharity and other hazards as may be required from time to time by the Authority, and all such insurance shall be evidenced by stattdard Fire and Extended Coverage Insurance Palicy ar Policies, in amounts not less than necessary ta comply with the applicable Coinsurance Clause percenta�e, but in no event shall the amounts of coverage be less than one hundred percent (100%) of the Replacement Values or not less than the unpaid balance of the Obligatians secured by this Recapture Deed af Trust, whichever is the lesser, and in default thereof the Authority shall have the right to effect insurance. Such policies shall be endorsed with standard Mortgagee clause with loss payable to the Authority, and shall be deposited with the Authority. If the Prernises covered hereby, or any part thereof, shall be damaged by fire or ather hazard against which insurance is held as hereinabove provided, the amounts paid by atty insurance company in pursuance of the contract of insurance to the extent of the Obligations then remaining unpaid, shall be paid to the Authority, and, at its option, may be applied to the payment of the Obli�ations or released for the repairing or rebuilding of the Premises. Tn the event the insurance proceeds are insufficient ta pay for the repair or rebuilding of the Premises, the Authority will pay down the Obligations unless the Grantor provides sufficient funds together with the insurance proceeds to pay for the repair or rebuilding of the Premises. 8. All Condemttation Awards resulting from any candemnation for public use of or injury to any of the Premises are hereby assigned and shall be paid to the Authority, who may apply the same to payment of the outstanding Obligations in accordance with the provisions of the ] 602 Agreement and with paragraph � hereof, and the Authority is hereby autharized, in the Recapture Deed of Trust and Security Agreement 4$48-254fi-7143.3