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96093424 <br />obtained. Not more frequently than once every two (2) years, either the Borrower or <br />the Lender shall have the right to notify the other party that it elects to have the <br />replacement value redetermined by the insurance company. <br />The insurance policy shall be issued by an insurance company authorized to do <br />business in the State of California with a financial rating of at least A VII status as <br />rated in the most recent edition of Best's Key Rating Guide. The policy shall contain <br />an endorsement requiring thirty (30) days written notice from the insurance <br />company to both parties before cancellation <br />5. Preservation and Maintenance of Property. Borrower shall keep the <br />Property in good repair and shall not commit waste or permit impairment or <br />deterioration of the Property. <br />6. Protection of Lender's Security. If Borrower fails to perform the <br />covenants and agreements contained in this Deed of Trust, or if any action or <br />proceeding is commenced which materially affects Lender's interest in the Property, <br />then Lender, at Lender's option, upon notice to Borrower, may make such <br />appearances, disburse such sums, including reasonable attorney's fees, and take such <br />action as is necessary to protect Lender's interest. <br />Any amounts disbursed by Lender pursuant to this paragraph 6, with interest <br />thereon, at the Note rate, shall become additional indebtedness of Borrower secured <br />by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, <br />such amounts shall be payable upon notice from Lender to Borrower requesting <br />payment thereof. Nothing contained in this paragraph 6 shall require Lender to incur <br />any expense or take any action hereunder. <br />7. Inspection. Lender may make or cause to be made reasonable entries <br />upon and inspections of the Property, provided that Lender shall give Borrower <br />notice prior to any such inspection specifying reasonable cause therefor related to <br />Lender's interest in the Property. <br />8. Condemnation. The proceeds of any award or claim for damages, direct <br />or consequential, in connection with any condemnation or other taking of the <br />Property, or part thereof, or for conveyance in lieu of condemnation, are hereby <br />assigned and shall be paid to Lender. <br />9. Borrower Not Released: Forbearance by Lender'Not a Waiver. <br />Extension of the time for payment or modification or amortization of the sums <br />secured by this Deed of Trust granted by Lender to Borrower or to Borrower's <br />Economic Development Agency Page 3 of 7 <br />Deed of Trust <br />