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charges, expenses and attorney's fees relating to or growing out of such default, with interest thereon from date of payment at the rate of ten percent (10 %) per annum or, if lesser, the maximum rate permitted by law, shall be paid by Borrower and /or the City to the Agency upon written demand. The aggregate of all such amounts, including interest, shall be secured by the lien of this Deed of Trust. 4.7 Defense of Actions and Payment of Costs. Borrower and /or the City shall appear in and defend all actions and proceedings purporting to affect the Property or any right or power of the Agency or Trustee hereunder, provided that the Agency and Trustee, or either of them, may appear in and defend any such action or proceeding and the Agency is authorized to pay, purchase or compromise on behalf of Borrower and /or the City any lien or claim which in its judgment appears to or purports to affect the security of or to be superior to this Deed of Trust. Borrower and /or the City shall pay on demand all sums so expended and all charges, expenses and attorney's fees incurred, with interest from the date of expenditure at ten percent (10 %) per annum or, if lesser, the maximum rate permitted by law. Borrower and /or the City shall give the Agency prompt written notice in writing of (i) the assertion of any claim, (ii) the filing of an action or proceeding, (iii) the occurrence of any damage to any of the Property, (iv) any condemnation and (v) any other material nonmonetary default. 5. IT IS AGREED THAT: 5.1 Awards and Damages. All judgments, awards of damages, settlements and compensation made in connection with or in lieu of (a) taking of all or any part of or any interest in the Property by or under assertion of the power of eminent domain, (b) any damage to or destruction of the Property or any part thereof by insured casualty, and (c) any other injury or damage to all or any part of the Property, are hereby assigned to and shall be paid to the Agency. The Agency is authorized and empowered (but not required) to collect and receive any such sums and is authorized to apply them in whole or in part upon any indebtedness or obligation secured hereby, in such order and manner as the Agency shall determine at its option. The Agency shall be entitled to settle and adjust all claims under insurance policies provided under this Deed of Trust and may deduct and retain from the proceeds of such insurance the amount of all expenses incurred by it in connection with any such settlement or adjustment. All or any part of the amounts so collected and recovered by the Agency may be released to Borrower and /or the City upon such conditions as the Agency may impose for its disposition. Application of all or any part of the amounts collected and received by the Agency or the release thereof shall not cure or waive any default under this Deed of Trust. CHFA 52P(RIDGE VIEW /SECOND) -5- 12/19/89 Q02253