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<br />4. Borrower shall keep the improvements on said Praperty insured against loss by
<br />�ire arid hazazds included with the term "extended coverage" for their insurable value and poli-
<br />cies for the same shall include a standard mortgage clause showing Lender herein. In event of
<br />loss, Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds
<br />shall be applied to restaration or repair of the Property damaged, unless both parties otherwise
<br />agree, except if restoration or repair is not economically feasible or Lender's security is not les-
<br />sened, otherwise said proceeds shall be paid on the debt herein, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds frarn
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said
<br />instrument af indebtedness, ar cha�nge the amount of the payments.
<br />5. Borrower shall lceep the described Prope�ty in good condition and repair; shall
<br />promptly repair, or replace, any improvement which may be damaged or destroyed; sha11 not
<br />comrnit or permit any waste or deterioration of the real estate hereinabove described; sha11 not
<br />remove or demolish any of the improvements on the Property; shall not substantially alter any of
<br />the improvements on the Property if such alterations materially or substantially reduce the value
<br />of the Property; shall not commit, suffer or permit any act to be done in or upon the Property in
<br />violation of any law, ordinance or regulation; and shall promptly discharge at Borrower's cost
<br />and expense all liens, encumbrances and charges levied, imposed or assessed against the
<br />described real estate or any part thereof.
<br />6. Ba� shall keep the Property in compliance with all applicable laws, ordin-
<br />ances and regulations relating to industrial hygiene or environmental protection (collectively
<br />referred to herein as "Environmental Laws"). Excepting only substances used by Borrower in
<br />connection with nortnal business activities of the Borrower's painting business conducted upon
<br />the Praperty, Borrower shall keep the Property free from all substances deemed ta be hazardaus
<br />ar toxic under any Environmental Laws (collectively referred to herein as "Hazardous Mate-
<br />rials"). Borrower hereby wanrants and represents to Lender that there are na Hazardous
<br />Materials on or under the Property to the knowledge of Borrower. Borrower hereby agrees to
<br />indemnify and hald hartnless Lender, its members, officers, ernployees and agents, and any
<br />successors to Lender's interest, from and against any and all clairns, damages, losses and liabili-
<br />ties resulting frorn the presence, use, disposal or transport of any Hazardous Materials existing
<br />on, above or under the Property and caused by Borrower or resulting from Borrower's operations
<br />on the property after the time that Borrower takes possession of the Property excluding only any
<br />adverse effects ar consequences resulting from any contamanation existing on, above or under
<br />the Property prior to the time that Borrower takes possession of the Property and not caused by
<br />Borrower or resulting from Borrower's operations on the Praperty. THE FOREGOING WAR-
<br />R.ANTIES AND REPRESENTATION, AND BORROWER'S OBLIGATIONS PURSUANT
<br />TO THE FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS
<br />DEED OF TRUST.
<br />7. Bor� shall not sell, transfer, assign, convey or further encumber all or any
<br />part of or any interest in the Property hereinabove described, either voluntarily or involuntarily,
<br />without the express prior written consent of Lender or as atherwise herein perrnitted, and in the
<br />event of any such sale, transfer, assignment, conveyance or trarisfer in violation of this provision,
<br />Lender shall have the option to declare all sums secured hereby irnrnediately due and payable.
<br />8. If Borrower fails to perform the covenants and agreements herein contained,
<br />Lender may do and pay for whatever is necessary to protect the value of the property and Lend-
<br />er's rights in the Property, including the paying of any sum secured by a lien which has priority
<br />aver this Deed of Trust, appearing in Caurt, payi�ng reasonable attorney fees and entering the
<br />Property to make repairs. Any amaunt disbursed by Lender under this paragraph shall become
<br />an additional debt of Borrower secured by this Deed of Trust, to bear interest from the date of
<br />disbursement amd said amount, together with the then unpaid principal amount, shall bear interest
<br />at the highest lawful rate until refunded by Borrower.
<br />9. The proceeds of an condemnation award are hereby assigned and shall be paid to
<br />Lender and shall be applied to the sums secured by this Deed af Trust, whether or not then due,
<br />with any excess to be paid to Borrower.
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