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Security damaged, provided such restoration or repair is economically feasible and the <br />security of this Deed of Trust is not thereby impaired. If such restoration or repair is not <br />economically feasible or if the security of this Deed of Trust would be impaired, again, <br />subject to the rights of the First Lender, the insurance proceeds will be used to repay the <br />grant under this Deed of Trust, with the excess, if any, paid to Trustor. If the Security is <br />abandoned by Trustor, or if Trustor fails to respond to the Beneficiary, or its designated <br />agent within 30 days from the date notice is mailed by either of them to Trustor that the <br />insurance carrier offers to settle a claim for insurance- benefits, the Beneficiary, or its <br />designated agent, is authorized to collect and apply the insurance proceeds at the <br />Beneficiary's option either to restoration or repair of the Security or to repay the loan. <br />If the Security is acquired by the Beneficiary, all right, title and interest of Trustor in <br />and to any insurance policy and in and to the proceeds thereof resulting from damage to the <br />Security prior to the sale or acquisition will pass to the Beneficiary to the extent of the sums <br />secured by this Deed of Trust immediately prior to such sale or acquisition subject to the <br />rights of the First Lender. <br />7. Preservation and Maintenance of Security. Trustor will keep the Security in <br />good repair and will not commit waste or permit impairment or deterioration of the <br />Security. <br />8. Protection of the Beneficiary's Security. If Trustor fails to perform the <br />covenants and agreements contained in this Deed of Trust or if any action or proceeding is <br />commenced which materially affects the Beneficiary's interest in the Security, including, but <br />not limited to, default under the Deed of Trust securing the First Lender Note, eminent <br />domain, insolvency, code enforcement, or arrangements or proceedings involving a <br />bankrupt or decedent, then the. Beneficiary, at the Beneficiary's option, upon notice to <br />Trustor, may make such appearances, disburse such sums and take such action as it <br />determines necessary to protect the Beneficiary's interest, including, but not limited to, <br />disbursement of reasonable attorneys' fees and entry upon the Security to make repairs. <br />Any amounts disbursed by the Beneficiary pursuant to this paragraph, with interest <br />thereon, will become an indebtedness of Trustor secured by this Deed of Trust. Unless <br />Trustor and the Beneficiary agree to other terms of payment, such amount will be payable <br />upon notice from the Beneficiary to Trustor requesting payment thereof, and will bear <br />interest from the date of disbursement at the rate payable from time to time on outstanding <br />principal under the Loan Note unless payment of interest at such rate would be contrary to <br />applicable law, in which event such amounts will bear interest at the highest rate permissible <br />under applicable law. Nothing contained in this paragraph will require the Beneficiary to <br />insure any expense or take any action hereunder. <br />Attachment No. 6 <br />15.4 <br />65A-28