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such improvements so damaged or destroyed. <br />The full replacement value of the improvements to be insured hereunder shall <br />be determined by the company issuing the policy at the time the policy is initially <br />obtained. <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, or with a financial rating <br />approved by the holder of the Senior Deed of Trust. The policy shall contain an <br />endorsement requiring thirty (30) days written notice from the insurance company to <br />both parties before cancellation <br />S. 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. Borrower shall maintain the Property in conformance <br />with the applicable standards of the San Leandro Zoning Code and Plaza I <br />Redevelopment Plan. <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 />Economic Development Agency Page 3 of 8 <br />Deed of Trust - Empire Austin San Leandro Partnership October 29, 1997 <br />