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CONST DOT PG3 3
<br />IT IS MUTUALLY AGREED THAT:
<br />2012110 " /4
<br />In the event of the passage of any law deducting from the value of real property for the purposes of taxation any
<br />lien thereon, or changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state
<br />or focal purposes, or the manner of the collection of any such taxes, so as to affect this Deed of Trust, the holder of this
<br />Deed of Trust and of the obligations which it secures shall have the right to declare all sums secured hereby due as of a
<br />date to be specified by not less than 30 days' written notice to be given to Trustor by Beneficiary, provided, however, that
<br />such election shall be ineffective if Trustor is permitted by taw to pay the whole of such tax in addition to all other payments
<br />required hereunder and if, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter
<br />levied or assessed against such property, and such agreement shall constitute a modification of this Deed of Trust.
<br />Sums Advanced to Bear Interest: To pay immediately upon demand any sums advanced or paid by Beneficiary
<br />or Trustee under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall be secured hereby and
<br />bear interest from the date it was advanced or paid at the same rate as such indebtedness and shall be secured by this Deed
<br />of Trust.
<br />Assignments of Deposits: That as further additional security if this be a construction loan, Trustor hereby
<br />transfers and assigns to Beneficiary during continuance of these Trusts, all right, title and interest to any and all monies
<br />deposited by Trustor or deposited on behalf of Trustor with any city, county, public body or agency, sanitary district, gas
<br />and /or electric company, telephone company and any other body or agency, for the installation or to secure the
<br />installation of any utility by Trustor, pertaining to this property.
<br />Failure of Trustor to Comply with Deed of Trust: Should Trustor fail to make any payment, or to do any
<br />act as provided in this Deed of Trust, or fail to perform any obligation secured by this Deed of Trust, or do any act Trustor
<br />agreed not to do, Trustor shall be in default under this Deed of Trust. Beneficiary, but without obligation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof and without contesting
<br />the validity or amount of the same, may (a) make or do the same in such manner and to such extent as it may deem
<br />necessary to protect the security hereof, Beneficiary being authorized to enter upon such property for such purposes, and
<br />(b) pay, purchase, contest or compromise any encumbrance, charge or lien, which m its judgement is or appears to be prior
<br />or superior hereto, and (c) in exercising any such power, pay necessary expenses, employ counsel and pay his reasonable
<br />fees. Trustor agrees to repay any amount so expended on demand of Beneficiary.
<br />Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether
<br />or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file
<br />and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of such roperty; and
<br />either Trustee or Beneficiary is hereby authorized, without obligation so to do, to commence, appear in or defend any such
<br />action, whether brought by or against Trustor, Beneficiary or Trustee, or with or without suit, to exercise or enforce any
<br />other right, remedy or power available or conferred hereunder, whether or not judgment be entered in any action or
<br />proceeding; and Trustee or Beneficiary may appear or intervene in any action or proceeding, and retain counsel therein; and
<br />take such action therein, as either may be advised and may settle, compromise or pay the same or any other claims and, in
<br />that be -half and for any of said purposes, may expend and advance such sums of money as either may deem necessary.
<br />Whether or not Trustor so appears or defends, Trustor on demand shall pay all costs and expenses of Beneficiary and
<br />Trustee, including costs of evidence of title and attorney's fees in a reasonable sum, in any such action or proceedmg in
<br />which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise and irrespective of whether
<br />the interest of Beneficiary or Trustee in such property is directly questioned by such action, including but not limited to any
<br />action for the condemnation or partition of such property and any suit brought by Beneficiary to foreclose this Deed of
<br />Trust.
<br />Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of
<br />judgement, settlement or otherwise, (a) for injury or damage to such property, or (b) in connection with any condemnation
<br />for public use or injury to such property or any part thereof, or (c) in connection with the transaction financed by the loan
<br />secured hereby, or (d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust,
<br />sounding in tort or contract, including causes of action for fraud or concealment of a material fact together with the
<br />settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and
<br />irrevocably assigned and shall be paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in,
<br />appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in
<br />connection with any such taking or damage. Trustor agrees to execute such further assignments of any compensation,
<br />award, damages, rights of action and proceeds as Beneficiary may require.
<br />The amount received by Beneficiary pursuant to this Deed of Trust under any fire or other insurance policy, in
<br />connection with any condemnation for public use of or injury to such property, for injury or damage to such property, or
<br />in connection with the transaction financed by the loan secured hereby are to be applied at the option of Beneficiary upon
<br />any indebtedness secured hereby. No such application, use or release shall cure or waive any default or notice of default
<br />hereunder or invalidate any act done pursuant to such notice.
<br />Consent, Partial Reconveyance, Etc.: That at any time, or from time to time, without liability thereof, and
<br />without notice, upon written request of Beneficiary, and without affecting the personal liability of any person for payment of
<br />the indebtedness secured hereby, or the lien of this Deed of Trust upon the remainder of such property for the fuL amount
<br />of the indebtedness then or thereafter, secured hereby, or the rights or powers of the Beneficiary or the Trustee with respect
<br />to the remainder of such property, Trustee may (a) reconvey any part of such property, (b) consent to the making of any
<br />map or plat thereof, (c) join in granting any easement thereon, or (d) join in any extension agreement or any agreement
<br />subordinating the lien or charge hereof,
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