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197416 <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, subject to the terms of any mortgage, deed of <br />trust or other encumbrance which has priority over this Deed of Trust. <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 />successor in interest shall not operate to release, in any manner, the liability of the <br />original Borrower or Borrower's successor in interest. Lender shall not be required to <br />commence proceedings against such Borrower or Borrower's successor in interest or <br />refuse to extend time for payment or otherwise modify amortization of the sums <br />secured by this Deed of Trust by reason of any demand made by the original <br />Borrower or Borrower's successor in interest. Any forbearance by Lender in exercising <br />any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a <br />waiver of or preclude the exercise of any such right or remedy. <br />10. Successors and Assigns Bound: Joint and Several Liability: Co-signers. <br />The covenants and agreements herein contained shall bind, and the rights hereunder <br />shall inure to the benefit of, the respective successors and assigns of Lender and <br />Borrower, subject to the provisions of paragraph 14 hereof. All covenants and <br />agreements of Borrower shall be joint and several. <br />11. Notice. Except for any notice required under applicable law to be given <br />in another manner, (a) any notice to Borrower provided for in this Deed of Trust <br />shall be given by delivering it or by mailing such notice by certified mail return <br />receipt requested addressed to Borrower at Lloyd Wise Company, 10550 East 14th <br />Street, Oakland, CA 94603, Attn: Anthony A. Batarse, Jr., or at such other address as <br />Borrower may designate by notice to Lender as provided herein, and (b) any notice to <br />Lender shall be given by certified mail return receipt requested to Lender's address <br />stated herein or to such other address as Lender may designate by notice to Borrower <br />as provided herein. Any notice provided for in this Deed of Trust shall be deemed to <br />have been given to Borrower or Lender when given in the manner designated herein <br />two days after deposit into the United States mail; or on the date when personally <br />served on the Borrower or Lender. <br />Economic Development Agency Page 4 of 10 <br />Subordinate Deed of Trust <br />