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It obviously doesn't apply to the saved - it is an invitation to salvation. God is calling the lost to repent and come to Him.
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Only the saved are call to repent because it has been granted to them from their saviour..
acts 5:
31Him hath God exalted with his right hand to be a Prince and
a Saviour,
for to give repentance to Israel, and forgiveness of sins.
Also peter is preaching particular redemption or limited atonement..