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<br /> 98`" 1iU044
<br /> promptly commence work and to complete the proposed improvements promptly,(b)to
<br /> compl�te same in accurdance with plans and specifications as approved by Beneficiar�►�
<br /> (c}to comply with sll of the terms of any construction loan agreement between Trustor
<br /> and aeneficiary,(d)to allow Ben�ficiary ta inspect such properry at all times during
<br /> construction,and(e)to replace eny work ur materials unsatiafaotory to Heneficiary,
<br /> within fiftan(15)days after written notico from Beneficiary of such fact,which notice
<br /> may be given to Tnistor by registeced or certified mail, sent to his last known address or
<br /> by personel service of the�tme.
<br /> 4. E±� *±� ��At�y �,sur�,ce. To keep such property insure@ against loss or
<br /> dam.a�e by fire and other risk or risks which,in the opinion of Bcneficiary should bc
<br /> insured against,under policies of insurance with lass payable to Beneficiary in fonr�,
<br /> amount,and aompanies acctptable to Beneficiary. Said policies shall l�cielivered to and
<br /> remain in posseasion of Beneficiary as further security for the faithful per�'ormance of
<br /> these obligations,which drlivery shall aonstitute an assignrncnt by Trustor to Beneficiary � �
<br /> � . to all rights thereundcr,including all r�h�arn premiums;to delivor to Beneficiary a pc��acy
<br /> or policies renewuig or extanding eny expiring insurance with���receipt showing '
<br /> premiums psid at ltast thirty(30) days before expiration. If Tntstor fails to so deliver any
<br /> renewal policies,,Beneficiary�may procure such insurance as�t.rnay eltct and maxmake
<br /> payment of pioetnia�ns theceon,which payment is rtpayabla on.:dema�c►d. Neither Tcustee
<br /> nor Beneficiary sh�X�bc res;ponsible fc�r obtaining or maintainiiig suah insurance. � ' ,
<br /> Bene�icituy,froii�'ti##�o to�ime,m�ey fumish�o eny insurance agency ox�et�mpany,or eny �
<br /> other pe:aon,any„`a�n�'ormstion conteined in or extracted from:any insumnce paiicy, �:
<br /> thec+etofore deliyercal to BeneSciary pursuant hereto,and sn;+_i�fomnution concernjng.the
<br /> " loan aoFured hereby. In no eveat aad whether or not default�ti��+eunder has occunbd s�all
<br /> Beneficiary,by the fact or appinving,dr.cepting,ar obtaining such insurance�incur say ,
<br /> liability for the amount of auch inaurance,the form or legal sufficiency of ii�aunince
<br /> c;ont�a�cts,aolvaqcy,of insurets,or pee�+ment of loases by ir�.su�ers;and Truator hereby
<br /> expreasly aaeumes.�fiill reaponsibility therefor and liability, if sny,tharetmder. In the
<br /> event of lo�,T�'`nutor shsll give inunediste written notice to BeneSciary;�nd Beaoficiary ,
<br /> msy,but ia nat obli�ted t�,make proof of loss if�n,ot-mede prompdy by Trustar. In cau � , �_
<br /> • of any loss tho+ur'�ziiiunt collectai uader any policy of insurance:on such propccty mu��+�,et
<br /> ����� the on of the���enefici be liod b Benefici
<br /> � op'a �Y, aPP Y erY up�,.q.`n�+indehtedness an�l/�tir: �:
<br /> obligeticm aecurei�hereby,dnd in euch order and amount ss�e�e�cist�►.;_ytiay deterrtiine;or
<br /> seid amount or u►y,�ortioir}:thereof may,at the option of the Beiiid5ciai'y;.�ither bc used in
<br /> rCplacing or res���yg Lhe improvaments partially or totally de�saoyed to a condition
<br /> satiafactory to s��r,1�`3eneficiary,or said smount,or any portitiri#hereof,may be nleased to ,
<br /> the Tr�tator. In aiiy'auCh c,rtcnt ntithec the Trustee nor the Ben�ficisry�ell be obligated �:'.��
<br /> to se���o propec applicaf�on�fheceof; ttor shaU tha amount so releasod,�u;�r used be deemod ;;:'�'�
<br /> a payment on��jndGbtedr►ess secured hereby. Such appli��tion,use,and✓or release
<br /> � shall not cure or'�ii►aive any default or noticc of default her �e�wder or invalidata any act
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