|
201309549
<br /> debts secured by deeds of trust or a beneficiary's interest in the Trust Property, so as to impose such imposition on
<br /> the Trustee or the Beneficiary or on the interest of the Trustee or the Beneficiary in the Trust Property, then, in any
<br /> such event, the Trustor shall bear and pay the full amount of such imposition, provided that if for any reason
<br /> payment by the Trustor of any such imposition would be unlawful, or if the payment thereof would constitute usury
<br /> or render the Secured Indebtedness wholly or partially usurious, the Beneficiary shall pay that amount or portion of
<br /> such impositions as renders the Secured Indebtedness hereby unlawful or usurious, in which event the Trustor shall
<br /> concurrently therewith pay the remaining lawful and nonusurious portion or balance of said imposition.
<br /> 1.8. Compliance with Laws. The Trustor shall materially comply with all present and future laws,
<br /> ordinances, regulations, covenants, conditions and restrictions affecting the Trust Property or the operation thereof,
<br /> and shall pay all fees or charges of any kind in connection therewith to the extent required under the Loan
<br /> Agreements,and any other Financing Document.
<br /> 1.9. Duty to Defend. The Trustor shall promptly notify the Trustee and Beneficiary of and appear in and
<br /> defend any suit, action or proceeding that affects the Secured Indebtedness, or any right or interest of the Trustee or
<br /> the Beneficiary under this Deed of Trust. If an Event of Default has occurred and is continuing, the Trustee or the
<br /> Beneficiary may, at its option, elect to appear in or defend any such action or proceeding, and the Trustor agrees to
<br /> indemnify and reimburse the Trustee and the Beneficiary from any and all loss, damage,reasonable and documented
<br /> expense or cost arising out of, or incurred in connection with any such suit, action or proceeding, including, but not
<br /> limited to, costs of evidence of title and attorneys' fees if allowed by law except for losses, damages or liabilities to
<br /> the extent caused by the gross negligence or willful misconduct of the Trustee or the Beneficiary.
<br /> 1.10. Insurance Coverage. The Trustor shall obtain and keep in force and effect during the term of this
<br /> Deed of Trust at its sole cost and expense such insurance as required in accordance with the terms and conditions of
<br /> the Loan Agreements, and any other Financing Document. In the event of a foreclosure of this Deed of Trust or any
<br /> acquisition of the Trust Property by the Beneficiary, all such policies and any proceeds payable therefrom, whether
<br /> payable before or after a foreclosure sale, or during the period of redemption, if any, shall become the absolute
<br /> property of the Trustee to be utilized at its discretion. In the event of foreclosure or the failure to obtain and keep any
<br /> required insurance,the Trustor empowers the Beneficiary to effect insurance upon the Trust Property at the Trustor's
<br /> expense and for the benefit of the Beneficiary in the amounts and types aforesaid for a period of time covering the
<br /> time of redemption from a foreclosure sale, and if necessary therefore, to cancel any or all existing insurance
<br /> policies. The Trustor agrees to furnish the Beneficiary with copies of all inspection reports and insurance
<br /> recommendations received by the Trustor from any insurer.
<br /> 1.11. Notice of Damage.The Trustor shall give the Beneficiary prompt notice of any material damage to or
<br /> destruction of the Trust Property and authorize the Beneficiary to make proof of loss if not made promptly by the
<br /> Trustor. In case of loss covered by policies of insurance held as Collateral, the Trustor shall not without the express
<br /> written consent of the Beneficiary settle, adjust or compromise any claim arising out of such policies, or collect and
<br /> receive the proceeds payable therefrom. Any expense incurred by the Beneficiary in the adjustment and collection of
<br /> insurance proceeds (including the cost of any independent appraisal of the loss or damage on behalf of the
<br /> Beneficiary) shall be reimbursed to the Beneficiary first out of any proceeds. The proceeds or any part thereof shall
<br /> be applied, at the Beneficiary's option to the repair or replacement of the assets subject to such casualty or, upon or
<br /> in reduction of the Secured Indebtedness or to the restoration or repair of the Trust Property.
<br /> 1.12. Condemnation. The Trustor shall give the Trustee and the Beneficiary prompt notice of any action,
<br /> actual or threatened, in condemnation or eminent domain. The Trustor may in good faith contest any condemnation
<br /> or eminent domain action by appropriate legal action or proceedings. Any such contest shall be prosecuted with due
<br /> diligence. The Trustor hereby irrevocably assigns, transfers, and sets over to the Trustee for the benefit of the
<br /> Beneficiary, to the extent of the remaining unpaid Secured Indebtedness, the entire proceeds of any award, payment
<br /> or claim for damages for all or any part of the Trust Property taken or damaged, whether temporary or permanent,
<br /> under the power of eminent domain or condemnation, and authorizes the Trustee and the Beneficiary to intervene in
<br /> any such action in the name of the Trustor and to collect and receive from the condemning authorities and give
<br /> proper receipts and acquaintances for such proceeds. Any expenses incurred by the Trustee or the Beneficiary in
<br /> intervening in such action or collecting such proceeds shall be reimbursed to the Trustee and the Beneficiary first
<br /> out of the proceeds. So long as no Event of Default exists, the proceeds or any part thereof shall be applied upon or
<br /> in reduction of the Secured Indebtedness then most remotely to be paid, whether due or not, without the application
<br />
|