|
4831 -6145- 0517.1 3
<br />2013076
<br />constitute a default. All unearned premiums are hereby assigned to Trustee as additional
<br />security.
<br />5. Taxes, Assessments and Charges. Trustor shall pay all taxes, assessments and
<br />other charges, including, without limitation, fines and impositions attributable to the Property,
<br />and leasehold payments or ground rents, if any, before the same become delinquent. Trustor
<br />shall promptly furnish Beneficiary upon request all notices of amounts due under this paragraph,
<br />and in the event Trustor shall make payment directly, Trustor shall promptly furnish to
<br />Beneficiary upon request receipts evidencing such payments. Trustor shall pay all taxes and
<br />assessments levied upon this Deed of Trust or the indebtedness secured hereby, together with
<br />any other taxes or assessments which may be levied against the Trustee or Beneficiary or the
<br />legal holder of the Note.
<br />6. Additional Liens and Protection of Beneficiary's Security. Trustor shall make all
<br />payments of interest and principal and payments of any other charges, fees and expenses
<br />required to be paid by the terms of any prior or subsequent deed of trust or mortgage before the
<br />date they are delinquent or in default, and promptly pay and discharge any and all other liens,
<br />claims or charges which may jeopardize the security granted herein. If (a) Trustor fails to make
<br />any such payment or fails to perform any of the covenants and agreements contained in this
<br />Deed of Trust, or the Note referred to herein, or in any prior or subsequent mortgage or any
<br />prior or subsequent deed of trust; or (b) if any action or proceeding is commenced which
<br />materially affects Beneficiary's interest in the Property, including, but not limit to, eminent
<br />domain proceedings, proceedings involving a decedent, notice of sale by Trustee, notice of
<br />default by Trustee, or mortgage foreclosure action; then Beneficiary, at Beneficiary's option and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation
<br />hereunder, may make such appearances, disburse such sums and take such action as is
<br />necessary to protect Beneficiary's interest. Such action may include, but is not limited to,
<br />disbursement of reasonable attorney's fees, payment, purchase, contest or compromise of any
<br />encumbrance, charge or lien, entry upon the Property to make repairs, or declaration of default
<br />under this Deed of Trust and Note referred to herein, and sale or foreclosure thereunder. In the
<br />event that Trustor shall fail to procure insurance or to pay taxes, assessments, or any other
<br />charges or to make any payments to any existing prior or subsequent lienholders or prior or
<br />subsequent beneficiaries, Beneficiary may procure such insurance and make such payment, but
<br />shall not be obligated to do so. Any amounts disbursed by Beneficiary pursuant to this
<br />Paragraph 6 shall become additional indebtedness of Trustor secured by this Deed of Trust.
<br />Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment
<br />thereof, and shall bear interest from the date of disbursement at the rate payable from time to
<br />time on outstanding principal under the Note unless payment of interest at such rate would be
<br />contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this Paragraph 6 shall require
<br />Beneficiary to incur any expense or take any action hereunder.
<br />7. Leased Premises; Assignment of Rent. Within ten (10) days after demand,
<br />Trustor shall furnish to Beneficiary a schedule certified to be true, setting forth all leases of the
<br />Property or any portion thereof then in effect, including, in each case, the name of the tenants
<br />and occupants, a description of the Property or any portion thereof leased to such tenant and
<br />occupants, the rental payable thereunder and such other information and documents with
<br />respect to such leases and tenancies as the Beneficiary may request.
<br />Without the prior written consent of Beneficiary, Trustor shall not, directly or indirectly,
<br />with respect to any lease of the Property or any portion thereof, whether such lease is now or
<br />
|