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201402718
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201402718
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Last modified
5/7/2014 4:05:55 PM
Creation date
5/7/2014 4:05:54 PM
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DEEDS
Inst Number
201402718
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Initials: <br />b. receipts of all paid insurance premiums; and <br />c. renewal notices and evidence of renewal completion. <br />201402718 <br />23. In the event of loss, the Trustor will provide prompt notice to the Beneficiary and the <br />insurance carrier. The Trustor will provide the Beneficiary with proof of all claims at the <br />Trustor's own expense and do all necessary acts to enable the Trustor to obtain all <br />insurance proceeds from the claim. The insurance proceeds, in whole or in part, will be <br />applied to the restoration and repair of the Property, if the restoration and repair is <br />economically feasible. If the restoration and repair is not economically feasible, the <br />insurance proceeds will be applied to the remainder of the Trust, whether or not the <br />balance of the Trust is then due. Any remaining funds from the insurance claim will be <br />paid to the Trustor. <br />Repair, Vacancy and Maintenance of the Property <br />24. The Trustor will maintain the Property in good order, condition and repair and will <br />promptly make all necessary repairs, replacements, and improvements. The Trustor will <br />not allow the Property to become or remain vacant without the written consent of the <br />Beneficiary. The Trustor will not commit waste and will not remove, demolish or <br />materially alter the Property or any part of it without prior written consent from the <br />Beneficiary. The Beneficiary may, whenever necessary, enter upon and inspect the <br />Property. If the Trustor, or anyone claiming under the Trustor, neglect to keep the <br />Property in good condition and repair, or commit any act of waste on the Property, or do <br />anything by which the value of the Property is diminished, as to all of which the <br />Beneficiary will be sole judge, the Beneficiary may (but is not obliged to) enter the <br />Property and effect such repairs or work as it considers necessary. <br />Environmental Hazards <br />25. The Trustor will not use, store, release, deposit, recycle, or permit the presence of <br />hazardous substances on the Property, generally accepted items for residential use <br />excepted, which includes but not limited to asbestos, PCBs, radioactive materials, <br />gasoline, kerosene, or other flammable petroleum products (the "Hazardous <br />Substances "). The Trustor is also prohibited from performing any acts on the Property <br />
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