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� r 2� 17�2� 17 amoun� secured by this Deed af Trust shall not in any �uay imply tha� Ben�ficiary shall be ob�iga�ed ta advance any amaunt at any time. Advances or disbursements made by Beneficiary to protect the seeurity, under�he terms hereof, shall nat be deemed�o b�optional advanc�s. ARTI�LE III. RI�HTS AND I]UTIES �F THE PARTIES 3.� Tit�e. Trustor warrants that Trustor lawfully possesses and holds fee simple title to the Trust Property without limitatian on the right to encumber, as herein provided, and tha� this Deed of Trust is a valid first priari�y l�en on the Trust Property and all of Trus�or's in�erest therein. 3.2 Taxes and Assessmen�s. Subj ect to the r�ght, if any, of Trus�or ta contest payment of the fol�owing pursuant to any �ther agreemen� between Trustnr and Benefzciary, Trustor shall pay prior to del�nquency all taxes, assessments, �evies and Crl�'��5 imposed: (a�by any public or quasi-publ�c authority ar utility company which are or wh�ch may hecome a Iien upan or �aus� a loss in value of�he Trust Property or any interest �herein; or �b}�y any public authority upon Beneficiary by r�ason �f i�s in�erest in any Secured ��ligation or in the Trust Property, ar by reason of any payment mad� to Beneficiary pursuant ta any Secured �bliga�xon; pra�ided hawever, tha�Trus�or shall have no obligation to pay any income taxes of Beneficiary. W��hin ten (1�� days of Beneficiary's �vritten request, Trustor shall furnish to Beneficiary satisfactory evidence of the payment of aIl of the f�regoing. Benefic�ary �s hereby authorized to request an� receive from th� responsible governmental and non-governmental p�rsonnel wrxtten statements�uith respect to th�accrual and payment of any of the foregoin�. 3.3 Performance of Secured �bli�a�ians. Trustor shal� promp�ly pay and perfarm each Secured �bligatxan when due. 3.4 Liens Encumbrances and Char es. Within ten �1�} days af Benef�ciary's written request, Trustar shall discharge, ar to the extent permitted by �av�, bond �ver, any lien an the Trust Pr�perty not approved by Beneficiary in writing. Except as otherwis� pro�id�d in any Secured �bligation or ather agreement with Benefi�iary, Trus�ar shall pay when due a�1 �bl�gations secured by or reducible to liens and encumbrances which shall now ar hereafter encumber the Trust Property, wh�ther senior or subardinate hereto,includi.n.g without lima.�ation, any mechanicsr or construct�on liens. 3.5 Insurance. Trustor shall insure the Trust Property against lass or damage by fire and such other risks as Beneficiary sha�l from time �o time require. Trustor sha11 carry public �iab�lity insurance, flood xnsura.nce as required hy applicable law and such other in�urance as Beneficiary may reasanably require, including wi�hou� lim�ta�ion, terrorism, business interrupti�n insurance or loss of rental value insurance. Trustor sha�l maintain ai� required insuranc� at Trustor's expense, under policies issued by campanies and in form and substance satisfactary to Beneficiary. Neither Beneficiary n�r Trustee, �y reason �f accep�ing, rej ecting, approv�ng �r abtaining insurance, shali �ncur any liabili�y for: (a}the ex�st�nce, nonexistence, farm or lega� suff�ciency thereof; tb}the solvency nf any insurer; or (c�the payment af�oss�s. All pa�icies and cer�ifica�es �f insurance shal� name Benef�ciary as �oss payee, and shal� pravide that the insurance cannat be ternunated as to Benefic�ary except upan a m�nimum of ten ��) days' priar �vritten notice to Beneficiary. �ithin ten �� days of Benef�ciary's written request, Trustor shall deliv�r ta Beneficiary the original af all such p�lic�es or certificates, vvith receipts evidencing annual prepayment of�he prem,.�iums. 3.5 Tax and Insurance Im ounds. Upon the occurrenc�and during the con�inuance af any Event af Default, at Beneficiary's �ption and upon its demand, Trustar shall, un.til all Se�ured 4bliga�ions have been paid�n full,pay to Benef�ciary monthly, annually ar as ather-�vise dir��ted by Beneficiary an amount estimated by Benefic�ary to be equal to: (a�all taxes, assessments, i�vies ar�d charges impased by any public or quasi-pub�xc authority or ut��ity company which are �r may bec�me a Iien up�n the Trus� Property and will became due far the tax year dur�ng which such payment is so directed; and �b�premiu.ms for f�re, ather hazard and mortgage insurance next due. If Beneficiary determin�s that -3-