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. 2� 17�2� 19 _ � Trust by a madificatzon or similar dacumen� recorded subsequent �o the date hereof. The maximum amount secured by this De�d of Trust sha�l n�t in any way imp�y that Benefic�ary shall be obligated ta advance any amount at any tim�. Advances or disbursemen�s made by Beneficiary to protect the security, under�he terms hereof, shal�na�be deemed ta be optional advances. ; ARTICLE III. RIGHTS AND I]UTIE S �F THE PARTIE S 3.� Title. Trus�ar�varrants thati Trustor lawfully possesses and holds fee s�mp��tit�e to the Trust � Property vvithout limitati�n on the ri.ght to encumber, as herein provided, and that �his I]eed of Trus� is a va��d f�rst�riority Ixen an the Trust Proper�y and alI of Trustor's in�erest�h�rein. 3.2 Taxes and Assessments. Subj e�t tfl the right, if any, of Trustor �o can�est payment �f the fo��o�ving pursuar�t ta any o�her agreemen� between Trus�or and Benef�ciary, Trustor shall pay prior t� del�nquency all taxes, assessments, levxes and charges imp�sed: �a}by any public or quasi-public authority or utility company which are or whi.ch may became a �ien upan or cause a l�ss in va�ue of the Trust Proper�y or any interest there�n; or �b�by any public authority upon Beneficiary by reas�n �f its interest in any Secured �bligation �r in the Trust Property, �r by reason of any paymen� made to Ben�f�ciary pursuant to any Secured�bligat�on; provided haw�ver, �hat Trustor shall have na obliga�ion to pay any income taxes of Beneficiary. Within ten (1�} days nf Beneficiary's writ�en request, Trustar shall furnish to Beneficiary sat�sfactary evidence of the payment of a11 of th� foregoing. Beneficiary is hereby authorized to request and receive from the r�sponsibl� g�vernm.ental and non-governm�r�ta� persannel wri�ten statements with respect to th�accrual and payment of any�f th�foregoing. 3.3 Perfarmance of Secured 4b��atians. �'rustor sha�l promptly pay and perforrn each Secured �bligation when due. 3.4 Liens, Encumhrances and �har�es. Within ten �1�} days of Benefi�iary's �vritten reques�, Trustor shall discharge, or to the exterit permitted by �aw, bond over, any lien on the Trust Property no� appraved by Benef�ciary ir� �vriting. Excep� as othervvise provided i.n any Secured �bligation or other agreem�nt vvith Beneficiary, Trus�or shall pay when due all obligations secured by or reducible to liens and encumbrances whach sha�� n�w ar hereafter encumber the Trust Pr�per�y, whether senior or subordinate hereto,including withaut limitation, any mechanics'or c�ns�ruction liens. 3.5 Insurance. Trustor sha11 insure the Trust Property against Iass or damage by fire and such o�her risks as Benefic�ary shall fram t�me ta time require. Trustor shall carry public �iabi�i�y insurance, f�ood insuran�e as require�i by applicab�e law and such �ther insurance as Beneficiary may reasanably require, including �vithout limitation, terr�rism, husiness in�erruption insurance or loss of rental �alue insurance. Trustor shall main�ain all required insuran�e at Trustor's expense, under policies issued by companies and in form and substance satisfactary t� B�neficiary. Ne�ther Beneficiary nor Trustee, by reason of accepting, rej ecting, appro�ing or obtaining �nsurance, shall in�ur any �iability for: �a}the e�istenc�, nonexistence, form or �egal sufficiency thereof; (b}the sol�ency of any insurer; ar �c}the payment �f losses. Al� palicies and certificates �f insurance sha�l name Benefi�iary as loss payee, and sha11 provzde that the insurance caranot be �erminated as to Beneficiary except upon a rninimum of tien (1�} days' prior written natice to Benefic�ary. W�thin ten �1�} days af Beneficiary's written request, Trus�or sha�� deliver to Beneficiary the original of all such policies or certif�cates, with receipts evidencing annual prepayment af the premiums. 3.� Tax and Insurance Im ounds. Upon the occurrence and during the c�ntinuance of any Event of Default, at Beneficiary's option and upan its demand, Trustor shall, unti� alI Secured�bligatians have been paid in full,pay to Benef�ciary monthly, annua��y or as otherwise directed by Ben�ficiary an amount estimated by B�n�ficiary ta be equal to: �a�a11 taxes, assessments, Ievies and charges impased by any public ar quas�-publ�c auth�rity or utility company which ar� or may be�ome a lien upon the Trust Property and wili b�come due for the tax year during which such payment is so directed; and _3_