import re
text = "the asbestos fiber <unk> <unk| is < unusually <unk once it enters the <<unk>$% with "
pattern = r"(?i)(?<!\S)(<unk>)(?!\S)|[^\w\s]+"
print(re.sub(r"\s{2,}", ' ', re.sub(pattern, r"\1", text)).lower().strip())
aW1wb3J0IHJlCgp0ZXh0ID0gInRoZSBhc2Jlc3RvcyBmaWJlciA8dW5rPiA8dW5rfCBpcyA8IHVudXN1YWxseSA8dW5rIG9uY2UgaXQgZW50ZXJzIHRoZSA8PHVuaz4kJSB3aXRoICIKcGF0dGVybiA9IHIiKD9pKSg/PCFcUykoPHVuaz4pKD8hXFMpfFteXHdcc10rIgoKcHJpbnQocmUuc3ViKHIiXHN7Mix9IiwgJyAnLCByZS5zdWIocGF0dGVybiwgciJcMSIsIHRleHQpKS5sb3dlcigpLnN0cmlwKCkp