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<br /> r 2 . Payment of Principal and Interest _ Trustor shall punctually pay the
<br /> 1 ' principal of , and interest on , said promissozy note including any advances
<br /> thereto as provided herein on the dates ' and at the place and in the manner !'
<br /> ` p'rovided therein and will , punctually per'fo'rm all agreements , conditions and
<br /> provisions of any other security instrument given in conriection with this
<br /> transaction .
<br /> 3 . Preservation and Maintenance of Pro�er � . Trustor will not cownit any
<br /> waste upon the Property and will , at all times , maintain the same in good
<br /> order and condition and will make , from time to time , all repairs , r. enewals ,
<br /> replacements , additions and improvemenT.s which are reasonably required to
<br /> prevent waste , impairment , or deterioration of said property . No building
<br /> or improvement now or hereafter erected upon the Property shall be altered ,
<br /> removed or demolished without the prior written consent of Beneficiary .
<br /> 4 . Insurance . Trustor , at its expense , will maintain with insurors approved
<br /> by Benef— ici y , insurance with respect to "the improvements and personal pro-
<br /> perty , constituting the Property against loss by £ire , lightning , tornado ,
<br /> and other perils covered by standard extended coverage endorsement , in an
<br /> amount equal to at least one' hundred percent of the full replacement value
<br /> thereof ; ` and` ' insurance against such other hazards and in such amount as is
<br /> customarily carried by owners and operators of similar properties and as
<br /> Bene£ ieiary may require for its protection . Trustor will comply with such
<br /> other requirements as Seneficiary may Lrom time to time request for the pro-
<br /> � tection by insur�nce of the interest o £ the respective parties . All insur-
<br /> ance policies maintained pursuant to this Trust Deed shall name Trustor and
<br /> Beneficiary as insureds , as their respective interests may appear , and pro-
<br /> `� vide that there shall be no cancellation or modification without fifteen days
<br /> ; prior written notification to Trustee and Beneficiary . In the event any
<br /> policy hereunder is not renewed on or before fifteen days prior to its ex-
<br /> �� piration date , Trustee or Beneficiary may procure such insurance in accor-
<br /> %' dance with the provisions of paragraph seven . Trustor shall deliver to
<br /> � Beneficiary the original policies of insurance and renewals thereof or memo
<br /> copies of such policies and renewals thereof . Failure to furnish such in-
<br /> � surance by Trustor , or renewals as required hereunder shall , at the option
<br /> of Beneficiary , constitute a default . All unearned premiums are hereby
<br /> assigned to Trustee as additional security and a sale and conveyance of the
<br /> Property by the Trustee shall operate to convey to the purchaser the Trustor ' s
<br /> interest in and to all policies of insurance upon the Trust Property .
<br /> x 5 . Taxes and Assessments . Trustor shall pay all taxes and special assessments
<br /> levied or assessed against or due upon the Property before delinquency , and
<br /> will deliver to Beneficiary copies of receipts showing payment of such taxes
<br /> and special assessments . "
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<br /> 6 . Additional Liens . Trustor shall make all payments of interest and prin-
<br /> cipal and payments of any other charges , fees , and expenses contracted to be
<br /> paid to any existing lien holders or prior beneficiaries under any prior Trust
<br /> Deed , Mortgage or other security agreement , before the date they are delinquent
<br /> and to pay any other claim which jeopardizes the security granted herein .
<br /> ' 7 . Protection of Beneficiary ' s Secu, r3ty . Should Trustor fail to make any
<br /> payment , fail to do any act as herein provided , or if any action or proceeding
<br /> is commenced which materially affects Beneficiary " s interest in the Property ,
<br /> including , but not li.mited to , eminent domain , insolvency , arranbements or
<br /> proceedings involv3ng a bankrupt or decedent , then Beneficiary or Trustee
<br /> but without obligation to do so , and without notice to or demand upon Trustor ,
<br /> and without releasing Trustor from any obligation hereunder , may make or do
<br /> the same , and may pay , purchase , contest or compromise any encumbrance , charee
<br /> or lien , which in the judgment of either appears to affect said Property ; in
<br /> ' ' exercising any such powers the Beneficiary or Trustee may ii�cur any liability
<br /> � and expend whatever amounts , including disbursements of reasonable attorney ' s
<br /> � fees , cahich in their absolute discretion , may be necessary . In the event """'"� � ` ' ^°' ��
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<br /> that Trustor shall fail to procure insurance or to pay taxes , and speciai " ' � ;
<br /> assessments or to m�ceany payments to existing or prior lien holders or bene- ' ' '
<br /> Lficiaries , the Benefici.ary may procure such insurance and make such payments . �
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