10210 EVERGREEN WAY 2018-01-01 MF Import

� C forth the coverage, the limits of liability,the carrier, the poli,.;number and the expira6on date. As security for the Secured Obligations,Borrower hereby sssigns to Lender all roquired insurance policies,together with all proceeds thereof,rights thereto and all ur.eamed premiums retumable upon cancellation. ,".lf insurance policies shap be evaluated and adjusted as required by Lender on an annual basis. Borrower assumes all risk of insufficient coverage of risks or amounts and zcknowledges that Lende�'s requirements are not intende;i t�.indicate what Borro�Ner should,in its ezercise of its prudent and reasonable judgment, obLvu. . (c) P�ymcnt:Renewalc. Borrower sha11 promptly fumish to Lender all rrnewal notices relating to ins�uance policies. Except as the same mey otherwise be paid under Article III,I3orrower shall pay all premiums on insurance policizs directly to the cacrier. At least thirty(30)days prior to the expiration date of each such policy,Borrower shall fumish to Lender a renewal policy in a form acceptable te Lender, together with evidence that the renewal premium has been paid. (d) tlpplication of Insuranc>�. In the event of any loss, Borrower shall give prompt written notice thereof to the insurance carrier and Lender. Borrower hereby authorizes Lender as Borrower's attomey-in-fact to make prooi of loss,to adjust and compromise any claim,to commence,appear in and prosecute,in Lender's or Borrower's name, any action relating to any claim,and to collect and receive insurance procceds; provided,however,that Lender shail have no obligation to do so. Lender shall apply any insunnce proceeds received by;t hereunder first to the payment of the costs and expenses incurred in the collection of the proceeds snd then,in its absolute discretion and without regard to the adequacy of its security,to: (I) The payment of the Secured Obligations,whether then due and payable or not. Any such application of proceeds to principal o�s:he Note shall oe without the imposition of any prepayment fee otherwise payable under the Note,but shal( not extend or postpone the due dates of the installmcnt payments under the Note,or change the amounts thereof; or (2) The teimbv�sement ofBorrower, under Lender's prescribed disbursement control procedures, for the cost of restoration or repair of the Property. Lender may, at ils option,condition the reimbursement on Lender's approva]of the plans and specifications of the reconstruction,coi�tracto�s cost estimates, azchitects certificates, waivers of liens,sworn statements of inechanics and malerialmen,and such other evidence of costs,percentage completion of construction, application of payments and satisfaction of liens as Lender may reasomably require. Except to the extent that insurance proceeds aze applied to payment of the Secured Obligations,nothing herein contained shall be deemed to excuse Borrower frnm restoring, repairing or maintaining the Property as provided in paragraph 2.4,regazdless of whcther or 9 y� 060I0984