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1 2� 17�2� 13 Trust by a madificatian or sim�Iar documen� recorded subs�quent to �he date her�of. The max�mum amaunt s�cured by this Deed of Trus� shall not in any way imply tha� Beneficiary sha11 he ob��gated to ad�ance any amount at any�ime. Advances ar disbursemen�s made by Beneficiary to prot�ct the security, under�he terms her�of, sha11 not be deem�d t�be optional advances. ARTI�LE III. RI�HTS AND I�UTIES �F THE PARTIES 3.1 T�tle. Trustor warrants that Trustor Iawfully possesses and halds fee simp�e title t�the Trust Property�ith�ut �imi.tatian on the right t� encumber, as herein provided, and that this Deed of Trust is a �a��d first priority lien on the Trust Property and all of Trustor's interest�herein. 3.� Tax�s and Ass�ssments. Subj ec� �o the right, �f any, of Trustor tfl c�ntes� payment �f the fol�awing pursuant to any other agreement between Trustor and Beneficiary, Trustor shall pay priar to delinquency all taxes, assessments, �e�ies and charg�s imposed: (a}by any pub�ic ar quas�-public authori�y �r uti�i�y company which are ar which may becflme a �ien upon �r cause a Ioss in value of the Trust Property or any �n�erest therezn; or (b�by any public au�hority upon Beneficiary by reasan of its interest in any Se�ured �bliga�ion or in the Trust Property, or by r�ason �f any payment made to B�n�ficiary pursuan� to any Secured �bligation; provided however, that Trus�or shall have no oblxgatian to pay any income taxes of Beneficiary. Within ten (14� days of Benefi��axy's written reques�, Trustor sha�1 furnish t� Beneficiary satisfactory evidence of the payment af all of the foregoing. B�neficiary �s hereby authorized to request and recei�e from the responsible governmenta� and nan-go�ernmenta� pers�nr�el written statements with respec�to the accrual and payment of any of the faregoing. 3.3 Performance af Secured �bli at�ans. Trustor sha1l promptly pay and perform ea�h Secured �bligation when due. 3.4 Liens Encumbrances and Char es. Within ten �1�} days of Benef��iary's written request, Trustor shall d�scharge, �r to the ex�ent p�rmitt�d by �aw, bond over, any lien on the Trust Property no� approved by Beneficiary in wr�ting. Exc�pt as a�herwise pr�vi�ed �n any Secured �l�ligation or other agreement with Beneficiary, Trustor shall pay when due a11 obligations secured by or reducible ta liens and encumbrances which sha11 naw or hereafter encumber �he Trus� Property, v�rhether ser�ior ar sub�rdina�e here��, including without l�mi�ation, any mechanics"or construction liens. 3.5 Insurance. Trustor shall insure the Trust Property agains� loss or damage by fire and such other risks as BenefiCiary shall fr�m time ta time requ�re. Trustor shall �arr�y public liabi�ity insurance, flood insurance as required by applicable law and such oth�r insurance as Beneficiary may reasonably require, including wi�hout Iimi�ation, terrorism, business interruption in.surance or loss of rental value insurance. Trustor sha�� ma�nta�n al� requ�red �nsurance at Trustar"s expense, under paiic�es issued by companies and in f�rm and substance sat�sfactary to Benef ciary. Neither Beneficiary nnr Trustee, by reas�n of accepting, rej ecting, appro��ng or obtairung insuran�e, shall incur ar�y �iability for: �a�the existence, nonexis�en�e, form or legal sufficiency �hereflf; (b�the sol�ency of any insurer; ar (c}the payment of losses. All p�licies and certificates �f insurance sha11 name Beneficiary as �oss payee, an�i shall provide that the �nsurance cannot be t�rmina�ed as ta Beneficiary except upon a m�nimum of ten �14� days' prior written notice to Ben�ficiary. �ithin �en ��4} days af Benefic�ary's wri.tten request, ' Trustor shall de��ver to B�neficiary the origina� of al� such pali�ies ar certificates, with receipts evidencing annual prepayment of th�pr�miums. � 3.G Tax and Insurance Im ounds. Upan the accurrenc�and during the conti.nuance of any Event of Default, at Ben�fi�iary's aption and upon zts demand, Trus�or shal�, until al� Secured �bligatians ha�e been paid in ful�,pay ta Beneficiary monthly, annua��y or as otherwise d�rected by Beneficiary an am�unt es�imated by BenefiG�ary ta be equal to: (a}all taxes, assessments, �e�ies and charges imposed by any pub�ic ar quasi-pub�ic authority or utility company whaich are or may become a lien upon th� Trust � Proper�y and will bec�me due for the �ax year during wh.ich such payment is sa directed; and � -�- ; �