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Loan Documents, the Beneficiary, after at least seven (7) days' prior written notice to Trustor, <br />may (but is under no obligation to): (a) take out the required policies of insurance and pay the <br />premiums on the same; and (b) make any repairs or replacements that are necessary and provide <br />for payment thereof. All amounts so advanced by the Beneficiary will become part of the <br />Secured Obligations (together with interest as set forth below) and will be secured hereby, which <br />amounts the Trustor agrees to pay on the demand of the Beneficiary, and if not so paid, will bear <br />interest from the date of the advance at the lesser of ten percent (10%) per annum or the <br />maximum rate permitted by law. <br />ARTICLE 4: <br />DAMAGE, DESTRUCTION OR CONDEMNATION <br />Section 4.1 Awards and Damages. All judgments, awards of damages, settlements <br />and compensation made in connection with or in lieu of (a) a taking of all or any part of or any <br />interest in the Property by or under assertion of the power of eminent domain; (b) any damage to <br />or destruction of the Property or in any part thereof by insured casualty; and (c) any other injury <br />or damage to all or any part of the Property ( collectively, the "Funds"), are hereby assigned to <br />and are to be paid to the Beneficiary by a check made payable to the Beneficiary. The <br />Beneficiary is authorized and empowered (but not required) to collect and receive any Funds and <br />is authorized to apply them in whole or in part to any indebtedness or obligation secured hereby, <br />in such order and manner as the Beneficiary determines at its sole option. The Beneficiary is <br />entitled to settle and adjust all claims under insurance policies provided under this Deed of Trust <br />and may deduct and retain from the proceeds of such insurance the amount of all expenses <br />incurred by it in connection with any such settlement or adjustment. All or any part of the <br />amounts so collected and recovered by the Beneficiary may be released to Trustor upon such <br />conditions as the Beneficiary may impose for its disposition. Application of all or any part of the <br />Funds collected and received by the Beneficiary or the release thereof will not cure or waive any <br />default under this Deed of Trust. The rights of the Beneficiary under this Section are subject to <br />the rights of any senior mortgage lender. The Beneficiary shall release the Funds to Trustor to be <br />used to reconstruct the improvements on the Property provided that Beneficiary reasonably <br />determines that Trustor (taking into account the Funds) has sufficient funds to rebuild the <br />improvements in substantially the form that existed prior to the casualty or condemnation. <br />ARTICLE 5: <br />AGREEMENTS AFFECTING THE PROPERTY; FURTHER <br />ASSURANCES; PAYMENT OF PRINCIPAL AND INTEREST <br />Section 5.1 Other Agreements Affecting Property. The Trustor shall duly and <br />punctually perform all terms, covenants, conditions and agreements binding upon it under the <br />City Loan Documents and any other agreement of any nature whatsoever now or hereafter <br />involving or affecting the Security or any part thereof. <br />Section 5.2 Aareement to Pay Attorneys' Fees and Expenses. In the event of any <br />Event of Default hereunder, and if the Beneficiary employs attorneys or incurs other expenses <br />1199\09\2723506.3 <br />Document Number: 2021-146160 Page: 9 of 25 <br />