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201405204
<br />DEED OF TRUST
<br />(Continued) Page 10
<br />Indebtedness and secured hereby.
<br />CONDOIPUD t DEED OF TRUST) • The following provisions apply if the Real Property has been submitted to unit
<br />ownership law or similar law for the establishment Of condominiums or cooperative ownership of the Real Property:
<br />A. Power of Attorney. Trustor/Grantor grants an irrevocable power of attorney to Lender to vote in Lender's discretion
<br />on any matter that may come before the association of unit owners. Lender shall have the right to exercise this power
<br />of attorney only after Trustor's /Grantor's default; however, Lender may decline to exercise this power as Lender sees
<br />fit.
<br />B. insurance. The insurance as required herein may be carried by the association of unit owners on Trustor's /Grantor's
<br />behalf, and the proceeds of such insurance may be paid to the association of unit owners for the purpose of repairing or
<br />reconstructing the Property. If not so used by the association, such proceeds shall be peld to Lender.
<br />C. Default. Trustor's /Grantor's failure to perform any of the obligations imposed on Trustor/Grantor by the declaration
<br />submitting the Read Property to unit ownership. by the bylaws of the association of unit owners, or by any rules or
<br />regulations thereunder, shall be an event of default under this Deed of Trust. If Trustor's /Grantor's interest in the Real
<br />Property is a leasehold interest and such property has been submitted to unit ownership, any failure by Trustor/Grantor
<br />to perform any of the obligations imposed on Trustor /Grantor by the lease of the Real Property from its owner, any
<br />default under such lease which might result in termination of the tease as it pertains to the Real Property, or any failure
<br />of Trustor/Grantor as a member of an association of unit owners to take arty reasonable action within
<br />Trustor's//Grantor's power to prevent a default under such lease by the association of unit owners or by any member of
<br />the association shall be an Event of Default under this Deed of Trust.
<br />FAILURE TO PROVIDE INSURANCE. GrantarlTrustor /Mortgagor ( "Owner ") acknowledges and agrees that if Owner faits
<br />to provide any required insurance on the terms set forth herein or in any Related Documents, or fails to continue such
<br />insurance in force in compliance with the requirements of this agreement or any Related Documents, Lender may
<br />purchase insurance at Owner's expense as provided therein. Such insurance may protect Lender's interests, and may
<br />otherwise protect none of, or less than all of, Owner's interests. The cost of any such insurance shad become a part of
<br />the Indebtedness and shall be payable on demand or added to the Note as provided herein, at Lender's option. OWNER
<br />ACKNOWLEDGES THAT IF LENDER SO PURCHASES ANY SUCH INSURANCE, THE INSURANCE MAY PROVIDE
<br />LIMITED PROTECTION AGAINST PHYSICAL DAMAGE TO THE COLLATERAL, UP TO THE BALANCE OF THE LOAN;
<br />HOWEVER, OWNER'S EQUITY IN THE COLLATERAL MAY NOT BE INSURED. IN ADDITION, THE INSURANCE MAY
<br />NOT PROVIDE ANY PUBLIC LIABILITY OR PROPERTY DAMAGE INDEMNIFICATION AND MAY NOT MEET THE
<br />REQUIREMENTS OF ANY FINANCIAL RESPONSIBILITY LAWS.
<br />LENDER TO BE NAMED LOSS PAYEE. All required policies and certificates of insurance shall name
<br />Mortgagee/Beneficiary as loss payee, and shall provide that the insurance cannot be terminated as to
<br />Mortgagee/Beneficiary except upon a minimum of ten (10) days' prior written notice to Mortgagee /Beneficiary.
<br />Immediately upon any request by Lender /Mortgagee /Beneficiary, Grentor/Trustor /Mortgagor shall deliver to
<br />Lender /Mortgagee /Beneficiary the original of all such policies or certificates, with receipts evidencing annual prepayment
<br />of the premiums.
<br />ARBITRATION AGREEMENT. Arbitration - Binding Arbitration. Lender and each party to this agreement hereby agree,
<br />upon demand by any party, to submit any Dispute to binding arbitration in accordance with the terms of this Arbitration
<br />Program. Arbitration may be demanded before the institution of a judicial proceeding, or during a judicial proceeding,
<br />but not more than 60 days after service of a complaint, third party complaint, cross - claim, or any answer thereto, or
<br />any amendment to any of such pleadings. A "Dispute" shall include any dispute, claim or controversy of any kind,
<br />whether in contract or in tort, legal or equitable, now existing or hereafter arising, relating in any way to any aspect of
<br />this agreement, or any related note, instrument or agreement incorporating this Arbitration Program (the "Documents "),
<br />or any renewal, extension, modification or refinancing of any indebtedness or obligation relating thereto, including
<br />without limitation, their negotiation, execution, collateralization, administration, repayment, modification, extension,
<br />substitution, formation, inducement, enforcement, default or termination, or any request for additional credit. This
<br />provision is a material inducement for the parties entering into the transactions relating to this Agreement. In the event
<br />of a court ordered arbitration, the party requesting arbitration shall be responsible for timely filing the demand for
<br />arbitration and paying the appropriate filing fee within 30 days of the abatement order or the time specified by the
<br />court: the party s failure to do so shall result in that party s right to demand arbitration being automatically terminated
<br />with respect to such Dispute. DISPUTES SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT BY A JUDGE
<br />OR JURY. TO THE EXTENT ALLOWED BY APPLICABLE LAW, THE PARTIES IRREVOCABLY AND VOLUNTARILY
<br />WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARBITRATED
<br />PURSUANT TO THIS ARBITRATION PROGRAM.
<br />A. Governigq Rules. Any arbitration proceeding will nil be governed by the Federal Arbitration Act (Title 9 of the United
<br />States Code), notwithstanding any conflicting choice of law provision in any of the documents between the parties; and
<br />(11) be conducted by the American Arbitration Association ( "AAA "), or such other administrator as the parties shall
<br />mutually agree upon, in accordance with the AAA's commercial dispute resolution procedures, unless the claim or
<br />counterclaim is at (east $1,000,000.00 exclusive of claimed interest, arbitration fees and costs, in which case the
<br />arbitration shall be conducted In accordance with the AAA's optional procedures for large, complex commercial
<br />disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial
<br />disputes are referred to herein, as applicable, as the "Rules "). if there is any inconsistency between the terms hereof
<br />and the Rules, the terms and procedures set forth herein shall control. Arbitration proceedings hereunder shall be
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