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201308878
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Last modified
8/19/2014 2:24:32 PM
Creation date
11/6/2013 3:57:49 PM
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DEEDS
Inst Number
201308878
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#Pine Street - Deed of Trust <br />201308878 <br />improvements plus the cost of debris removal, but, in any event, not less than the original <br />principal amount of the Note. <br />(b) Bodily injury, personal injury and property damage liability insurance <br />against claims for bodily injury, death, personal injury or property damage occurring on, <br />in or about the Property and the adjoining property, streets, sidewalks and passageways <br />or by reason of the existence, ownership, use, occupancy or maintenance thereof, in <br />limits acceptable to Beneficiary, but in no event less than $1,000,000.00 per occurrence <br />and $1,000,000.00 in the aggregate. <br />(c) Such other insurance from time to time as Beneficiary may require to <br />protect the Property in amounts and against other insurable hazards then commonly <br />obtained in the case of property similar to the Property. <br />Such insurance shall be written by insurers which are reasonably acceptable to <br />Beneficiary. Such insurance shall be in form acceptable to Beneficiary, shall include Beneficiary <br />as an insured party thereunder as its interests may appear, shall be primary and without any right <br />of contribution as to any other insurance carried by Beneficiary and shall be endorsed to provide <br />that all terms and conditions, except for limit of liability, shall operate in the same manner as if <br />there were a separate policy covering each insured. Trustor shall provide to Beneficiary <br />Certificates of Insurance evidencing the foregoing policies commencing on the date hereof, and <br />annually thereafter until the Indebtedness has been paid in full. <br />Every such policy shall contain an agreement by the insurer that it will not cancel such <br />policy except after thirty (30) days' prior written notice to Beneficiary and that any loss <br />otherwise payable thereunder shall be payable notwithstanding (a) any act or negligence of <br />Trustor or Beneficiary which might, absent such agreement, result in a forfeiture of all or a part <br />of such insurance payment and (b) the occupation or use of the Trust Property for purposes more <br />hazardous than permitted by the terms of such policy. All insurance shall be written in amounts <br />sufficient to prevent Trustor from becoming a co- insurer. <br />Should Trustor fail to effect, maintain or renew any insurance provided for in this <br />Paragraph, or to pay the premium therefor, or to deliver to Beneficiary proper evidence thereof, <br />Beneficiary, at its option, but without obligation to do so, may procure such insurance, and any <br />sums expended by it to procure any such insurance shall be repaid by Trustor together with <br />interest at the rate provided in the Note within five (5) days after receipt of bills therefor from <br />Beneficiary. <br />Trustor and Beneficiary each agree to cooperate with the other, to such extent as such <br />other party reasonably may require, in connection with the prosecution or defense of any action <br />or proceeding arising out of, or for the collection of, any insurance moneys that may be due in <br />the event of any loss or damage, and to execute and deliver to such other party such instruments <br />as may be required to facilitate the recovery of any insurance moneys, but the costs and expenses <br />of all such actions and proceedings shall be paid by Trustor. <br />Trustor agrees to pay, and to indemnify, defend and hold harmless Beneficiary from and <br />against, any and all liabilities, losses, damages, costs, expenses (including all attorneys' fees and <br />
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