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<br /> 4.•iunr�lor P�YmMr o/Ch�io�+. Suh�ecr ro appl�cnble Inw o�tn u wnttan werver by Renelir,�ery��ustor.shal/pey ro 8eneli%iitry on the h�st �fi�'+�;:';��-,.�,y,.
<br /> .dey a/each mnnth, ni sur.h nthnr dere each mnn►h es mny be spncdmd hy Bxnehr.�n�y,unld rhn/ndnbtednnss is pa�d m JuO,a sum /heremulMr , 1 '.,;t�l_
<br /> ' caAed thn'Funda'1 Aq�����o f/17th al fhn yon�ty taxos rnd��ss��ssmnnfs wh�r.h mny nfm�n pnnnty ovnr th�s pnod oI Trust end,qround ients an -
<br /> thn lruaf PropertV,�l ony,plus 1/l7fh n(thn ynarly p�rmnnn rnsRTllmonts lor ha�ord msun�nrn,plus 1/12lh o1 thn yoarty p�omnm��nstallmnnts
<br /> lo�ninrtqago insuranr.n,�l dny,al/.�s rnisonably nsnm��tnd in�bally.ind Ironr finrn tn timo hy Henehr.iuiy nn thrr has�s o(dssnssmm�fs dnd bdls
<br /> qnd rensonahln eshmetes thnrool. Iho fund.s shall hn hnld�n u���nsfrtuf�nn, thn dnposrts oi acr.ounts ol wh¢h frre�nsurnd nr guernntend hy n
<br /> 7ndnisl ar stnte agenr.y indudmy Bonnh.nary. Hnnnhr.�ary shall apply thn/unds ta pnV sa�d laxr�v,as�nssmenLS, m.sure�nr.n pronuums end grnunrl , •,
<br /> rents Bene/lcrery sha/l not Ao reym�nd ta pny Tiusto►nny mterinst a�amuipa on thn f unrls Bonnlir.wry shall tpvo�o l�usfor,wrthnut char,yo.un «
<br /> • " ennual sccountinp o1 the FunAs show�ng credi�s ond dabi�s m the Funds nnd the pu�pnsn !m wh�ch nach rfnbrt to the+lunrls wUS n�min. lhe
<br /> � Fund.s are plad,qed as addihonnl sncanty lnr the Indehrodnnss secur.+d hy th�s Dend ol Irusf!l the amount al►hn funds br.lAby Benohciary. ,�,,
<br /> to,yothnr wdh tha luturm m�nrh/y msia�lnrnnts nl Funds pxyaA/e pno►to fha dua duros o!t�xn., .�ssossmon�s,in�urnncn prxm�ums nnd gro�md
<br /> rents,aha/l exceed tha emount requ+red ta pay said texns,wsnssm�nts,msur�ncn pinmwms rind7round i�'��t+.�+�j'°%��>>�duo,such�x��':4 .+ F
<br /> shn116o,af Trustn�'s npHnn, erthor prnmpNy rnpe�d ro Trustni o�credrtnd to TnAVtoi e(/a�nst futuro mnnfh+y msfallmnnfs ol Funds. //the amount , �
<br /> .-�•+-"�`' ' ol thn Funds held by BonoLr.iary shnl!nnt be sulhcienf fo pay wxes, ussnssmnnrs, �nsurancn premiums anAground ients as lhey lt►ll dun, . .� . .. •. _ ;.
<br /> . . *dF� Trustor shnll pay ro Qenehciory any antnunt nncnssary to mako up the dnlrcmncy wrthm thnty days 1�om thn datn nohcn Is maded by Benohc�ary ..- ;.
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<br /> to irusror rnqunsting poVmont thoreot Upon paymen�rn lull a!vll inde6tednnss,BenolinarY shall prompt/y rolund to Trusror any Funds held b w, �
<br /> � _� ;.
<br /> Bannlicrery. //thn Tiust Propxrty�s snld undn�the power ol seln or tho Trust Pioporty is a�herwur+.�cqu�roAby Be»eliciarV.�enelicuvy sheU .,�.{v �, {M;_
<br /> apply�mmediotnly pnor to tho sele n/tho lriist l'rnpArty or rts aeqws�hon by Bennhciery, ony Funds bold by Rene!lciary at the time ol app/icetion �:•, ���'-��"1
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<br /> • � as a credit aguinst the/ndnbtedness.N Bonnlrciary exacutes a w�ilt�n warvar o!Irusror's oAluJnGnns unde�thi.s peiagraph 4, Trustvr covenents •• n. T�r
<br /> •� ' end agrees to pay,belore the snme Aecame delinquent,all toxes,assessments,insurancra p�em�ums,ground rents, and all othei cherges ,�,�i„���
<br /> � whntsnevnr levied upon or assossn�l placnd or mado aga�nst tho lrust Property. Trusror lmther agrees,upon wntten�equest b y Beneliclnry, to �.�_-_
<br /> . .� promptlV delivnr ta B�nelir.rary ull recnipts/o�thn paymenf ot such charr�os. Trustor l�kevvise ag�ees to paY alI taxes,assessments and othei -_
<br /> ! r.huiqes/nv�od upon n�assevsr�A,plar.e�d ai nr.ido.lya�nst,oi mw,�surer/by, this Dt+nd al Tn�.f or thn recordat�nn hr+reo% ��'�
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<br /> + � 6.Appicadun olP�yments. Al1 paynrents recnrvod by Seno/ic�ary as to any debt, 1labd�t or obh ahon awod to BenoNciary by Iiustor mny be ,;.,�.
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<br /> app/io�by Bene/rc�nry to the payment nf the/ndnbtedness or to any such other debt,liability or obJiganon,m any oider or manner ol eppGcation c. .�,-..,,
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<br /> "; whrch Bene/i%iery, m�t.s absolute d�sc�ohon, doenrs appropriate. Unless otherwise elocted by Bene/iciary any such payment shall be deemed �,�?_
<br /> , � npp/ied lirst ro the payment ol any�lebt liability or ohllqnhon uthei than the Notn. •i�,
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<br /> B.Chuy�t;Ll+na• Trustor will knop the Trust Pioperry/roe/rom an hens and encambrances which in a»y way may in the iudpment ol =._„_,..-
<br /> •� BeneJiciery,hnvn pnonry ovnr,or�mpoir thn sacunty ol, this Deod o�Jrust but Trustoi need nof dischaige any such lien so long as Tiusloi shell n�,- .
<br /> �'w.N�:
<br /> � agree,in writing, to pay the obGgntmn secured by such 6en�n a mannor accepta6ln ro Baneliciary nnd shall in gond Ioith contest such lren by ���
<br /> vypropriate legal proceodings el/ecGve to p�event thn enlo�coment ol the lien and theloss ol any intorest in oi part ol the Trust Prope�ty• ��T=_.
<br /> )f � T.H�z�rd Msw�»c�• Trustor sholl keep the buddings and othn�rmprovements now ex�stmg or he�ealter erected nn tho Trust Pioperty insured ---
<br /> t by insuronce cqrriers satis/actory to BeneJiciery agamst loss by lire,hazards included m the teim'extended coveiage'and such other hazards, �_��
<br /> � I'�'� casualties and contingencietic as mey be iequired hy Beneliciary,m such amounts and lor such pe�ioaCs as may be requiied by Bene/iciary. The +�:
<br /> . � po/icy o/insurance shall be in/osm acceptab/e to Bene/iciary provido that the same may not be canceled or modi/ied without/i/taen 1161 days —
<br /> � prior written notice to Benolicinry,end shall heve Inss peYeb/e provis�ons rn/avor ol end rn la�m accep�ah/e to Beneliciery.An premiUms on �„��
<br /> insuience policies sha/l be pe�d in the menner piovi�led undn�pnragrxph d heieoJ or,iJnotpaid in such menner,hy Yrustor making paVment at ����
<br /> --_ ,- - - fe�si filisan(J51 rlsy�Fr.ar ta the dve detp, d+•n�Ny ro the insurance roniei. Beneliciery shell have the iight to hold the policies and renewals
<br /> tAsreo/arnd Trustor shell promptl y lom�sh te Benn/iclary aU renewal nntices end afl peid premium recelpts recerved by it.In no evenf st�e�! _ .
<br /> Bene1(cit�►y o►Tiustee be held responsibin lor Inilure to pay insurance premiums or lor an y loss or deme,qe aiising out o/a delect in any polrcy or _
<br /> �' arising out o/any/ailure o/any insurance cvmpony to pay lor nny loss or damage insurad against or/or/ailure by Trusto�to elfect the inyurance —
<br /> i�quired hereunder.In the event olloss, 7iustor shall give prompt nobce by ma�!to the rnswance carrier and BeneJiciery.Beneliciary mey make _
<br /> p►oo/alloss it not made promptly or in proper/o�m 6 y Trustar.AIJ po/icies ol insurance and any end al/�elunds ot uneerned premiums are
<br /> , hersby assigned to Beneticrary as additional security Ior tho�nayment ol the/ndebtadnnss.In the event of Bene/iciary's exercise oJ the power o! �
<br /> ael�r,onteinsd hsrein,or in thn event o!/oreclasure,a!i ngAC, tiNe and inte�est o/Trustov m and to any insurence policy then in/orce ahall pass
<br /> , ' , ro tba purchar.�r s•'k°trvQte�'�<,�a.,.Inrpclncuie sele.M aue ol an/loss,the insuranco yroceeds may at the option of 8ene/iciary,be applied _ �
<br /> by Beneliciary upon the/ndebtodness,or eny pert therooi and in such order and emount es venebcie�y mav unln.�niun,u��.,iu ruewu���n •,
<br /> pioceeds,ot the optinn ol Bene/iciery msy either be used in ieplocing ar restoiiny the Tiust f'ioperty pa�tially or fnta!ly destioyed to e condition
<br />' "` ' satisJacrory to 8eneriicin
<br /> ry;er said insurence proceeds,or any portion thoreol,mey be rsleased to Tiustor.Unless 8sneliciary and Tiustor
<br /> , othe►wise agrea in writing,any such epplicetion ol msuranco proceeds shall not extend or pos[pone the due date oI the Noto,or any
<br /> instellments called Ior therein,or change the nmount o/such inxtallmonts.1I tha Tiust Piopeityis acquired by Beneliciary pursuant to the
<br />' exercise ol the pownr ol sale or other lorec%sure,a!I nghG titfe and mtorest ol Trustor in end to any msmance proceeds pays6le as e result ol
<br /> .'i`. ��!�`"� ,; damago to the Trus[Property prim to the sole or acquisihon shafl pass to Beno/iciary end shall be eppGed lirst to the costs and expenses,
<br /> � � ""�` . incfuding attornny/ees,incmred in collecting such proceods,fhen in the menno�end m the order prov/ded herein.
<br /> �� d,c a•
<br />=� . d.Prwrr�tlon�nd M�lnt�nc�o11'ni+t PropMry. Trustnr wdl keep the buildings and olher improvements now or he�eal[er erected on the �
<br /> - Trust Proparty in good re�peir and condihon r�nd wJl nnt commit or permit waste, will no t alter the design or struclural cha�acter constitutrng any
<br /> ' ' b��ild/ng now or herealter eiected un and constituting tho Tiust A'operty without fhe pvior written consent o/Benelicrary,wil!nol do en y ect or
<br />�+' thing which wou/d unduly rmpaii or depreciaro the value ol the Trust Property end will not abandon the Tmst P�operty. Trustoi will not ismove __
<br />- eny/ixtures constitutinp[hn Trust P�opert y unless the same are rmmodrntoly�eplaced with like properry subject to the leen and security interes[ �
<br /> of this Deed oI Trust and ol at/ast equal volue and utility. Tiustor wifl comply with all piesent and lutuie ordinances,rogulations and _
<br />_�,�1-�'• -�y�� reyui►ements oi any govornmental body which are appl�cab/e ro the T�ust Property and to the occupency and use thereo%f/tAis Deed oI Trust is =
<br /> - ,�,i.'„ on a unit in a condomimum or a pinnned unit dnvo/opmont, Trusror shall perlorm o1l ol Trustor's obbgations under the declarations o�covenents
<br /> _:_.d"' • � creating or poverning the conAvminium or the planned umt devofopment,the hylews and regulonons o1 tho condommium or planned unit _
<br />- ' ""` , dnvelopment,and fhe r.nnsntuont documents.
<br /> .{' , `--
<br /> 9./nrp�odon. Beneliciory or its agents may,at all roasonabfo t;mes,enter upon the Trust Proporty lor the purpose o/inspectian. Bens/iciary _— _ _
<br />- � shall have no duty to mako such inspection and shal!nor Ae IiaAle ro Trusror nr to ony person in possession i/it makes or/ail.s to meke any such ___ __
<br /> ���� inspecuon. � `-:
<br />- � 10.P►obaflon o/S�ewity. !1 Trustoi/oil.s ro pei/orm any o/the covenents and ugreo�nents conteined in this Doed of Trust,or�I any ectron or j H�:'
<br /> proceeding is commenced whrch does or moy edversely a/Iect the Trust Hoperty or the mterest ol Trustor or Bene/iciary therem or the title ol ,' a���
<br /> ' Tiustor thereto, then Beneliciary,ot its option,mey perlorm such covonants and agrenments,moke such appearances,dn/end ogainst end r ,.
<br /> • investigata such nctmn or proceedmg:�nd tako such othor achon as Bonollcrery deems nernssery to protect rts mterest induding,but not lim�ted .`'�t
<br /> �' � ' fo,Jisbursemont o/reasonabfo otrornny lnes anA entry upnn rhn 7rus1 Pmparty(o mak e ropairs.Any amounts dia6ursed by Baneliciary pursuent iitJ�
<br /> to this poiagraph l0,with mteiest theraon, sha//ronshtum/ndnbfadnoss ol l�ustor snr.u�od by th�s pnnd ol Trust Un/rtss .'rustor end .�:.�;�;
<br /> Bene%ciory egree to other teims ol paymvnt,such dmo�m��sh.3l!b�pnynhle upon nancn lronr 8ennhr.iory to lrustor rerqueshng pnYment lhereol. ;,�,{:,..
<br /> and shaU bear interast/rom thr,dotn o{d�sbursnmont e�t th�delnulr rdte,d ony, sn�lor�h m fhn Note,o�otherwiso or tho highest rere permitted ,
<br /> • by law.Nothing contemed m th�s pnrugraph sha/J requne 8enehavry fo inr.ur an y Pxpenso or takv any ncnon herounder Trusror urevocably ' �
<br /> euthvrizes 9nd empowers BeneJiciory to onter upon thn Jrust I'roperty ns Trustor's ayAnt and,m Trustor's name or othorw�so to perlorm en y
<br /> and el/covenants nnd a,qreements to 6e perlormed hy 7iustor os hArem prov�dn�l. Henhl�ciary shrrll, at its opf�on, be suGro,qatod tn any
<br /> _ _._..---. .. . . .. . •`---.•-•--...._..,.i....w,.,d.��ho...nAhv RannJicmrv undor the
<br /> ...----T--„
<br /> � encumAranco,�ron,c/o�m or unnTano ano ro an ngnrs enn,.ocur��ru.+��, �.,e Y�,•••�•••...�.__.,._._-. ...-- -,> . --_ ___
<br />_ � prowslons hereo/and ony such subroganon nghts shall be vddrtrvnol ond cumuluhve sr�currty lor rhrs Doed ol Trust.
<br />_ � ��,Qa�nMNon. The pmcovds of any award or clam�!or Aant�qes,d�roct or consoquontral,�n connecGOn wifh an y condemnaUon or other
<br /> ' taking ol the Trust Proporty or any part thereol,or lor convoyancn m!mu oI or in anhcipanon af eondomnu�ron, r��o hernb y assigned to end shai! . .
<br /> Ibo pmd to Benv/ic�my. Trustor wJl l�lx anA prosar.utn,ui good l��th and w�th dun d�l�grincr,�ts d.��m lor any such aw.�rd oi paYmont,and w�l�
<br /> - cousa tho cemn ro 6o collocrod.md paid to BeneG.naiy,.�nd,shnrddrt/ad fo Au so, liusror rr�xvocaG/y duUtonlvs�nd empowers Benolicinry,n t
<br /> ` � �hn namo o/Irustor or othorw�sn,to lda,pmsncute,sn(Nn or r.uniNromise.+i�y sucN cl.��m and ro colloct,�urmpt Jor end rotam tho ptoceods.I!
<br />- tho Trust Ropnrry is ebondoned b�• liustor,or, r�t(er nohr.o hy Bnnrlie�ary fo 7rusroi tha�thn conden�nor otlers ro mako an awmd or sotHn r+
<br /> � cleim lor domayos, 7rus�or/mis rv rospond ro BanoGriary wrthm th�rty f:�01 days oRer thn ddGr such nohC�/s ntdded, Beno%c�ory�s authonrod to
<br /> co//oct and apply fho procaeds m tho mannnr ind,carod hurem Ihr prnrnarf.�o/eny.iwurrl or claim mvy,alter doducUn,q en raosonablo cosfs ond
<br /> " • ' oxponsos,mcfudrny�+ttornny/en.s, whreh mey/t.7w�hnon rnrune+d by Honnhrc�ry in(hn rollnchnn thoreol,at�ho solo d+scr�hon nl Bonohcrory, Ao
<br /> releosed[o lrustor,appl�nd to rosrornhon of irust f'ropwty,ur.�pNbnd to tho puymrnt ut f/tn Inderhfadness. Unlnss f3aia6c�.�ry anA)�ustor
<br /> • otherw�so ogree in wnnn,q,an y such npplrcanon ol procoeds to/ndebt�dnuss shnH nof e�rlonU or postpnnr the due datn ol the Note or the
<br />_ poyment ol nny mstellmnnts r.nlleA/oi theraundm.
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