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200103176
<br />(INITIAL ONE)
<br />Trustor shall directly pay such taxes, without notice or demand as each
<br />installment comes due and shall provide the Beneficiary with evidence of
<br />the payment of the same.
<br />Trustor shall pay to Beneficiary one - twelfth of the real estate taxes each
<br />month and such other assessments as they become due. The one - twelfth
<br />payment shall be adjusted annually as the taxes change and Trustor agrees
<br />that after payment of the taxes each year that any deficiency will be
<br />promptly paid to Beneficiary. Beneficiary agrees to provide Trustor with
<br />receipts showing that the real estate taxes have been paid in full and when
<br />due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
<br />coverage insurance insuring the improvements and buildings constituting part of the Trust Estate
<br />for an amount no less than $155,000 (co- insurance not exceeding 80% permitted). Such
<br />insurance policy shall contain standard mortgage clause in favor of Beneficiary and shall not be
<br />cancelable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />Trustor shall pay each month to Beneficiary one - twelfth (1/12) of the annual premium for such
<br />insurance. Beneficiary shall provide Trustor with receipts evidencing that said premium has been
<br />paid in full. Trustor shall promptly repair, maintain, and replace the Trustee Estate or any part
<br />thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no
<br />event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ENVIRONMENTAL COMPLIANCE. Trustor shall comply with all federal,
<br />state, and local environmental laws, ordinances, rules, requirements, regulations, and
<br />publications as now exiting or hereafter existing, amended, supplemented, or supplanted relating
<br />to the preservation of the environment or the regulation or control of toxic or hazardous
<br />substances or materials. Trustor hereby warrants and represents to Beneficiary that there are not
<br />toxic or hazardous substances or materials on or under the Property. Trustor does hereby
<br />indemnify and hold Beneficiary harmless and any successors to Beneficiary's interest from and
<br />against any and all claims, damages, losses, and liabilities arising in connection with the
<br />presence, use, disposal, or transport of any substance which is the subject of any environmental
<br />law, regulation, or control of toxic or hazardous substances or materials on, under, from, or about
<br />the Property. This indemnity shall survive reconveyance of the Property secured by this Trust
<br />Deed.
<br />5. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and
<br />contest any action or proceeding purporting to affect the security hereof or the rights or powers of
<br />Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of the
<br />title and attorney's fees, in such action proceeding in which Beneficiary or Trustee may appear.
<br />Should Trustor fail to make any payment or to do any act as and in the manner provided in any of
<br />the Loan Instruments, Beneficiary and /or Trustee, in its own discretion, without obligation so to
<br />do and without notice to or demand upon Trustor and without releasing Trustor from any
<br />obligation, may make or do the same in such manner and to such extent as either may deem
<br />necessary to protect the security hereof, Trustor shall, immediately upon demand therefore by
<br />Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise
<br />by Beneficiary of the foregoing rights, including without limitation costs of evidence of title,
<br />court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within
<br />then (10) days of written demand shall draw interest at the default rate provided in the Note.
<br />6. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest
<br />therein, be taken damaged by reason of any public improvement or condemnation proceeding, or
<br />in any other manner including deed in lieu of Condemnation ( "Condemnation "), or should
<br />Trustor receive any notice or other information regarding such proceeding, Trustor shall give
<br />prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation,
<br />awards and other payments or relief therefore, and shall be entitled at its option to commence,
<br />appear in and prosecute in its own name any action or proceedings. Beneficiary shall be also be
<br />entitled to make any compromise or settlement in connection with such taking or damage. All
<br />such compensation, awards, damages, rights of action and proceeds awarded to Trustor (the
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