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R �11�1�45lU�I��I�Nlllllllllllllllllllllll <br />to Leader official receipts evidencing payment thereof. <br />2. Insurance. Borrower shall continually maintain insurance against loss by fire, hazards <br />included within the term "extended coverage ", and such other hazards, as Lender may require, <br />including flood, rent loss and business interruption, in such manner and in such companies as <br />Lender may from time to time require on the improvements now or hereafter located on the <br />Premises and in such amounts satisfactory to Lender, but at no time less than the outstanding <br />indebtedness secured by this Deed of Trust and any other lien against the Premises, plus an <br />amount sufficient to prevent any co- insurance liability of the Borrower or Lender, Borrower shall <br />promptly pay all premiums when due and deliver official receipts to Lender evidencing such <br />payment. <br />All insurance policies and renewals thereof shall be held by Lender and have attached <br />thereto a loss payable clause in favor of and in form acceptable to Lender and provide that no <br />such policy can be canceled without ten (10) days prior notice to Lender or materially amended <br />(including any reduction in the scope or limits of coverage) without Lender's prior written <br />approval. All policies of insurance shall contain an endorsement or agreement by the insurer that <br />any loss shall be payable in accordance with the terms of such policy notwithstanding any act of <br />negligence of Borrower which might otherwise result in forfeiture of such insurance and the <br />Rather agreement of the insurer waiving all rights of setoff, counterclaim or deductions against <br />the Borrower. <br />In the event of loss, Borrower shall give immediate notice by mail to Lender who may <br />make proof of loss if not made promptly by Borrower. Each insurance company is hereby <br />directed to make payment for such loss directly to Lender (instead of to Borrower and Lender <br />jointly). Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be <br />applied, at Lender's option, to the debt secured by this Deed of Trost or to the repair or <br />restoration of the Premises. <br />If the insurance proceeds are applied to the debt, it may be applied upon the portion last <br />falling due or in such other manner as Lender may desire. <br />In the event of foreclosure of this Deed of Trust or other transfer of title to or assignment <br />of the Premises in extinguishment of the indebtedness secured hereby, all right, title and interest <br />of Lender in any such insurance policies then in force shall pass to the grantee of the Premises. <br />3. Condemnation Award. Any award for the taking of or damages to all or any part of the <br />premises or any' interest therein upon the lawful exercise of power of eminent domain shall be <br />payable to Lender. who may apply the sums so received to the portion of the debt hereby secured <br />last falling due or in such other manner as Lender may desire, subject to applicable law. <br />4. Repairs. Borrower will keep the Premises in good order and repair (reasonable wear <br />and tear excepted) and will not commit or permit any waste or other loss whereby the value of <br />the Premises might be impaired. <br />5. Compliance with Laws. Borrower shall promptly comply with any applicable legal <br />