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<br /> � against future monih/y installments of Funds. lf the amount of the Funds held by Beneficiary shall not be sufficient to pay taxes, assessments,
<br /> insurance premiums and ground rents as they fall due, Trustor shall pay to Beneficiary any amount necessary to make up the deficiency within thirty
<br /> days irom the date notice is mailed by Beneficiary to Trustor requesting payment thereof. Upon payment in full of all indebtedness, Beneficiary shall
<br /> prompt/y refund to Trustor any Funds he/d by Beneficiary. If the Trust Properiy is so/d under the power of sale or the Trust Property is otherwise
<br /> acquired by Beneficiary, Beneficiary shal/apply, immediately prior to the sale of the Trust Property or its acquisition by Beneficiary, any Funds held
<br /> O by Beneficiary at the time of application as a credit against the Indebtedness. If Beneficiary executes a written waiver of Trustor's obligations under
<br /> � this paragraph 4, Trustor covenants and agrees to pay,before the same become delinquent, all taxes, assessments, insurance premiums, ground
<br /> rents, and all other charges whatsoever/evied upon or assessed,p/aced or made against the Trust Property. Trustor further agrees, upon written
<br /> request by Beneficiary, to prompt/y deliver to Beneficiary all receipts for the payment of such charges. Tiustor likewise agrees to pay all taxes,
<br /> �•� assessments and other charges/evied upon or assessed,placed or made against, or measured by, this Deed of Trust or the recordation hereof.
<br /> �5. Application of Payments.All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor may be applied by
<br /> ~�r Beneficiary to the payment of the Indebtedness or to any such other debt, liability or obligation, in any order or manner of application which
<br /> �' Beneficiary, in its absolute discretion, deems appropriate. Un/ess otherwise e/ected by Beneficiary, any such payment shall be deemed applied first
<br /> '�"L= to the payment o/any debt, liability or obligation other than the Note.
<br /> 6. Charges;Liens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment of Beneficiary, have
<br /> priority over, or impair the security of, this Deed of Trust but Trustor need not discharge any such lien so long as Trustor shall agree, in writing, to
<br /> pay the obligation secured by such lien in a manner acceptab/e to Beneficiary and shall in good faith contest such lien by appropriate legal
<br /> proceedings effective to prevent the enforcement of the lien and the/oss of any interest in or part of the Trust Property.
<br /> 7. Hazard/nsurance. TrusteF s p Fir buildings and other improvements now existing or hereafter erected on the Tiust Property insured by
<br /> insurance carriers satisf6t�ne�ary against/oss by fire, hazards inc/uded in the term "extended coverage"and such other hazards,
<br /> casua/ties and contingencies as may be required by Beneficiary,in such amounts and for such periods as may be required by Beneficiary. The
<br /> policy of insurance shall be in form acceptab/e to Beneficiary,provide that the same may not be cancelled or modified without fifteen(15)days prior
<br /> writfen notice to Beneficiary, and shall have/oss payab/e provisions in favor of and in form acceptab/e to Beneficiary.All premiums on insurance
<br /> policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid in such manner,by Trustor making payment ai least fifteen(15)
<br /> days prior to the due date, direct/y to the insurance carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall
<br /> prompt/y furnish to Beneficiary a//renewa/notices and a//paid premium receipts received by it. /n no event sha//Beneficiary or Trustee be held
<br /> responsib/e for failure to pay insurance premiums or for any loss or damage arising out of a defect in any policy or arising out of any failure of any
<br /> insurance company to pay for any/oss or damage insured against or for failure by Trustor to eHect the insurance required hereunder. In the event of
<br /> /oss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof of/oss if not made promptly or in
<br /> proper form by Trustor.All policies of insurance and any and all reiunds of unearned premiums are hereby assigned to Beneficiary as additional
<br /> securiry for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power of sa/e contained herein, or in the event of
<br /> forec/osure, all right, tit/e and interesi of Trustor in and to any insurance policy then in force shall pass to the purchaser at the trustee's sa/e or
<br /> foreclosure sa/e. In case of any/oss, the insurance proceeds may, at the option of Beneficiary, be applied by Beneficiary upon the Indebtedness, or
<br /> any part thereof, and in such order and amount as Beneficiary may determine;or said insurance proceeds, at the option of Beneficiary, may either
<br /> be used in replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to Beneficiary;or said insurance
<br /> proceeds, or any portion thereof, may be re/eased to Trustor. Un/ess Beneficiary and Trustor otherwise agree in writing, any such app/ication of
<br /> insurance proceeds sha//not extend or postpone the due date of the Note, or any insta//ments cal/ed for therein, or change the amount of such
<br /> installments. If the Tiust Property is acquired by Beneficiary pursuant to the exercise of the power of sa/e or other foreclosure, all right, title and
<br /> interest of Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisition shall pass to
<br /> Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred in collecting such proceeds, then in the manner
<br /> and in the order provided herein.
<br /> 8. Preservation and Maintenance of Trust Property. Trustor wi//keep the bui/dings and other improvements now or hereafter erected on the Trust
<br /> Property in good repair and condition and will not commit or permit waste, will not alter the design or structural character constituting any building
<br /> now or hereafter erected on and constituting the Trust Proeprty without the prior written consent of Beneficiary, will not do any act or thing which
<br /> wou/d undu/y impair or depreciate the value of the Trust Property and will not abandon ihe Trust Property. Tiustor will not remove any fixtures
<br /> constituting the Trust Property un/ess the same are immediately rep/aced with like property subject to the lien and security interest of this Deed of
<br /> Trust and of at/east equa/va/ue and utiliry. Trustor will comp/y with all present and future ordinances, regulations and requirements of any
<br /> governmenta/body which are applicable to the Trust Property and to the occupancy and use thereof. If this Deed of Trust is on a unit in a
<br /> condominium or a p/anned unit deve/opment, Trustor shall perform all of Tiustor's obligations under the declarations or covenants creating or
<br /> governing the condominium or the planned unit deve/opment, the by/aws and regu/ations of the condominium or p/anned unit development, and the
<br /> constituent documents.
<br /> 9. Inspection. Beneficiary or its agents may, at all reasonab/e times, enter upon the Trust Property for the purpose of inspection. Beneficiary shall have
<br /> no duty to make such inspeciion and shall not be liab/e to Trustor or to any person in possession if it makes or fails to make any such inspection.
<br /> 10. Protection of Security. /f Trustor fai/s to perform any of the covenants and agreements contained in this Deed of Trust, or if any action or proceeding
<br /> is commenced which does or may adverse/y affect the Trust Property or the interest of Trustor or Beneficiary therein or fhe tit/e of Trustor thereto,
<br /> then Beneficiary, at its option, may perform such covenants and agreements, make such appearances, defend against and investigate such action
<br /> or proceeding and take such other action as Beneficiary deems necessary to protect its interest including, but not limited to, disbursement of
<br /> reasonab/e attorney fees and entry upon the Tiust Property to make repairs.Any amounts disbursed by Beneficiary pursuant to this paragraph 10,
<br /> with interest thereon, shall constitute Indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and Beneficary agree to other terms of
<br /> payment, such amounts shall be payab/e upon notice from Beneficiary to Trustor requesting payment fhereof, and shall bear interesf from the date
<br /> of disbursement at the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by/aw. Nothing contained in this paragraph
<br /> shall require Beneficiary to incur any expense or take any action hereunder. Trustor inevocably authorizes and empowers Beneficiary to enter upon
<br /> the Trust Property as Trustor's agent and, in Trustor's name or otherwise to pertorm any and all covenants and agreements to be pertormed by
<br /> Trustor as herein provided. Beneficiary shall, at its option,be subrogated to any encumbrance, lien, claim or demand and to all righfs and securities
<br /> for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such subrogation rights shall be additional and
<br /> cumulafive security for this Deed of Trust.
<br /> 11. Condemnation. The proceeds of arry award or claim for damages, direct or consequential, in connection with arry condemnation or other taking of the
<br /> Trust Property, or arry part thereof, or for conveyance in lieu of or in anticipation of condemnation, are hereby assigned to and shall be paid to
<br /> Beneficiary. Trustor will file and prosecute, in good faith and with due diligence,its claim for any such award or payment, and will cause the same to be
<br /> collected and paid to Beneficiary, and, should it fail to do so, Trustor irrevocab/y authorizes and empowers Beneficiary, in the name of Trusfor or
<br /> otherwise, to file,prosecute, settle or compromise any such claim and to collect, receipt for and retain the proceeds. lf the Trust Property is abandoned
<br /> by Tiusior, oi after notice by Beneficiary to Trusror thai the condemnor offers to make an award or sett/e a claim for damages, Trustor fails to respond to
<br /> Beneficiary within thirry(30)days after the date such notice is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner
<br /> indicated herein. The proceeds of any award or c/aim may, afier deducting all reasonab/e costs and expenses, including atrorney fees, which may have
<br /> been incuned by Beneficiary in the collection thereof, at the so/e discretion of Beneficiary, be released to Trustor, applied to restora[ion of Trust Properry,
<br /> or applied to the payment of the Indebtedness. Un/ess Beneficiary and Trustor othenvise agree in writing, arry such application of proceeds to
<br /> Indebtedness shall not exiend or postpone the due date of the Note or the payment of arry installments called for thereunder.
<br /> 12. Contaminants. Trustor warrants and represents that there are not now, nor, to the best of Tiustor's knowledge after reasonable investigation, have
<br /> ihere ever been and, without the Trustor obtaining Beneficiary's consent and a/l requisite permits and approvals, there will not in the future be
<br /> Contaminants stored, hand/ed, or disposed of on the Trust Property which would require cleanup, removal or other remedial action under any
<br /> environmental laws. Contaminants shall mean materials, substances and compounds prohibited or regulated under any environmental laws. Trustor
<br /> will immediate/y notify the Beneficiary, in writing, of any, (i)investigation, inquiry, claim or action by any governmenta/authority or other party,
<br /> against the Trustor regarding any environmental laws, (ii)Contaminants on the Trust Property which would require cleanup, removal or other remedial
<br /> action under any environmental laws. Upon the Beneficiary's request, Trustor will periodically provide environmenta/assessments or compliance
<br /> audits;and agrees to permit environmental inspections and testing of the Tiust Property by the Beneficiary or its agents, at the Trustor's expense.
<br /> lf the Trust Property is used for residentia/purposes, the preceding shall not apply to the presence, use, or storage on the Trust Property of small
<br /> quantities of Contaminants that are generally recognized to be appropriate to normal residential uses and to maintenance of the Trust Property.
<br /> 13. Tiustor Not Released. Extension of the time for payment or modificafion of any amortization of the Indebtedness granted by Beneficiary to any
<br /> successor in interest of Trustor shall not operate to re/ease, in any manner, the liability of Trustor and Trustor's successors in interest. Beneficiary
<br /> shall not be required to commence proceedings against such successor or refuse to exiend time for payment or otherwise modify amortization of
<br /> the Indebtedness by reason of any demand made by Tiustor and Trustor's successors in interest.
<br /> 14. Financia/Information. Upon request of Beneficiary, Trustor wi//provide to Beneficiary, within ninety(90)days of the c/ose of each fisca/year of
<br /> Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the/ndebtedness secured hereby, if any,
<br /> and will provide and deliver to Beneficiary such other financial information and in such manner as Beneficiary may reasonab/y request from time to time.
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