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(a) Power of Attorney. Grantor grants an irrevocable power of attorney to Beneficiary and Trustee to vote in Beneficiary's and Trustee's discretion on any matter that may come before the association of unit owners. Beneficiary and Trustee shall have the right to exercise this power of attorney only after Grantor's default; however, Beneficiary and Trustee may decline to exercise this power as Beneficiary and Trustee see fit. (b) Insurance. The insurance as required herein may be carried by the association of unit owners on Grantor's behalf, and the proceeds of such insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Real Property. If not so used by the association, such proceeds shall be paid to Beneficiary. (c) Default. Grantor's failure to perform any of the obligations imposed on Grantor by the declaration submitting the Real Property to unit ownership, by the bylaws of the association of unit owners, or by any rules or regulations thereunder, shall be an event of default under this Deed of Trust. If Grantor's interest in the Real Property is a leasehold interest and such property has been submitted to unit ownership, any failure by Grantor to perform any of the obligations imposed on Grantor by the lease of the Real Property from its owner, any default under such lease which might result in termination of the lease as it pertains to the Real Property, or any failure of Grantor as a member of an association of unit owners to take any reasonable action within Grantor's power to prevent a default under such lease by the association of unit owners or by any member of the association shall be an Event of Default under this Deed of Trust. 4.20 Appraisals. Fees and Expenses. Trustor agrees that Beneficiary may obtain appraisals and reappraisals and perform property evaluations and appraisal reviews of the Real Property when required by the regulations of the Federal Reserve Board or the Office of the Comptroller of the Currency, or any other regulatory agency, or at such other times as Beneficiary may reasonably require. Appraisals shall be performed by an independent third party appraiser selected by Beneficiary; property evaluations and appraisal reviews may be performed by third party appraisers or appraisers and staff of Beneficiary. The fees, expenses and other cost of such appraisals, reappraisals, property evaluations and appraisal reviews shall be paid by Trustor. In addition, Trustor shall be responsible for payment of all fees and expenses of Beneficiary and third parties relating to inspecting the Real Property, environmental review, title policies and endorsements (or title searches, abstracts of title or legal opinions of title where applicable), and monitoring the payment of property taxes, and any governmental taxes, fees and recording costs relating to this deed. ARTICLE V. DEFAULT PROVISIONS 5.1 Default. The occurrence of any of the following shall constitute a "Default" under this Deed of Trust: (a) Trustor shall fail to observe or perform any obligation or agreement contained herein; (b) any representation or warranty of Trustor herein shall prove to be incorrect, false or misleading in any material respect when made; or (c) any default in the payment or performance of any obligation, or any defined event of default, under any provisions of the Note or any other contract, instrument or document executed in connection with, or with respect to, any Secured Obligation. 5.2 Rights and Remedies. Upon the occurrence of any Default, and at any time thereafter, Beneficiary and Trustee shall have all the following rights and remedies: (a) With or without notice, to declare all Secured Obligations immediately due and payable in full. (b) With or without notice, without releasing Trustor from any Secured Obligation and without becoming a mortgagee in possession, to cure any Default of Trustor and, in connection therewith: (i) to enter upon DeedOtTrust -NE Job 2028568354- 1587582624 Term Loan Vers.2 10/31/2012 Page 12 of 20