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201704003
<br /> appoints Beneficiary the attorney-in-fact of Trustor, to execute, deliver and, if
<br /> appropriate, to file with the appropriate filing officer or office such financing statements
<br /> or other instruments as Beneficiary may reasonably request or require in order to
<br /> impose or perfect the lien or security interest hereof more specifically thereon.
<br /> 1.07 Compliance with Laws. Trustor will not commit any waste on or of the
<br /> Property or make any change in the use of the Property which will in any way increase
<br /> any ordinary fire or other hazard arising out of construction of the Improvements or
<br /> operation of the Property, nor will Trustor make any application to any federal, state or
<br /> local governmental authority ("Governmental Authority") for a change in zoning or a
<br /> change in any other law, ordinance, statute, rule, order, decree, directive or regulation
<br /> ("Laws") affecting the Property nor will Trustor consent to any such change without the
<br /> written consent of the Beneficiary, which consent will not be unreasonably withheld.
<br /> Trustor will at all times comply with all Laws of any Governmental Authority having
<br /> jurisdiction over construction of the Improvements or otherwise affecting the Property
<br /> and maintain and keep, or cause to be maintained and kept, the Improvements in good
<br /> operating order and condition. After completion of the Improvements, they shall not be
<br /> removed, demolished or substantially altered; nor shall any of the Fixtures be removed,
<br /> without the prior written consent of Beneficiary, except where appropriate replacements
<br /> free of superior title, liens and claims are immediately made having a value at least equal
<br /> to the value of the Fixtures so removed.
<br /> 1.08 Impositions. Trustor shall pay all reasonable costs, fees and expenses
<br /> of Trustee, its agents and legal counsel in connection with the performance of its duties
<br /> hereunder; and Trustor shall pay all taxes (except federal and state income taxes) and
<br /> any other governmental charges or impositions imposed by any Governmental Authority
<br /> on Trustee or Beneficiary by reason of their interests in this Deed of Trust.
<br /> 1.09 Subrogation. Beneficiary shall be subrogated for the full amount,
<br /> notwithstanding their release of record at a discount, to any construction, mechanic's
<br /> or vendor's lien or liens, superior titles, mortgages, deeds of trust, liens, encumbrances,
<br /> rights, equities and charges of all kinds heretofore or hereafter existing on the Property,
<br /> to the extent that the same are paid or discharged by the Beneficiary.
<br /> 1.10 Release of Liability or Performance. Without affecting the liability of
<br /> Trustor or of any other person who is or shall become bound by the terms of this Deed
<br /> of Trust or who is or shall become liable for the performance of any obligation secured
<br /> hereby, Beneficiary may, in such manner, upon such terms and at such times as it
<br /> deems best and without notice or demand, release any party now or hereafter liable for
<br /> the performance of any such obligation, extend the time for such performance, accept
<br /> additional security therefor, and alter, substitute or release any property securing such
<br /> performance. No exercise or nonexercise by Beneficiary of any of its rights under this
<br /> Deed of Trust, no dealing by Beneficiary with any person, firm or corporation and no
<br /> change, impairment, loss or suspension of any right or remedy of Beneficiary shall in
<br /> any way affect any of the obligations of Trustor hereunder or any security furnished by
<br /> Trustor, or give Trustor any recourse against Beneficiary, except with respect to
<br /> Beneficiary's gross negligence or willful misconduct.
<br /> ARTICLE II
<br /> EVENTS OF DEFAULT
<br /> The occurrence of any of the following shall constitute an event of default ("Event
<br /> of Default") hereunder:
<br /> 2.01 Observance and Performance of Agreements. The failure by Trustor to
<br /> make any payment when due under the terms of the Note, Loan Modification and
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