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89-"* 1 00332
<br />1. Payment of Indebtedness. To pay when clue, the principal of, and the interest
<br />on, the indebtedness evidenced by the note, charges, fees and all other sums as pro-
<br />vided in.the loan instruments,
<br />1 2. Title. Trustor is the owner of the property and has the right and authority
<br />to execute this Deed of Trust in respect to the property.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments
<br />and all other charges against the property, before the same become delinquent, and,
<br />in the event Beneficiary shall so require, to add to the payments required under
<br />the note secured hereby, such amount as may be sufficient to enable Beneficiary to
<br />pay such taxes, assessments or other charges as:they become due.
<br />G. Insurance. To keep the improvements now or hereafter located on the.,real
<br />estate described herein insured against damage by fire and such other hazards as
<br />Beneficiary may require, in amounts and companies acceptable to Beneficiary, and
<br />with loss payable to Beneficiary. In case of loss under such policies, Beneficiary
<br />is authorized to adjust, collect and compromise, in its discretion, all claims there-
<br />under and, at its sole option, is authorized. to either apply the proceeds to 'the
<br />restoration of the property or upon the indebtedness secured hereby, -but payments
<br />required by the note shall continue until the scams secured hereby are paid-in full.
<br />S. Repair, maintenance and Use. To promptly repair, restore or rebuild any
<br />buildings or improvements no,i or hereafter on the property; to keep the property
<br />in. good condition and. repair, without waste and free from mechanics or other liens
<br />not expressly subordinated to the lien hereof; to, not make, suffer or permit any
<br />nuisance to exist nor to diminish or impair the value of the. property by any act
<br />or omission to act; and ton comply with all requirements of lasi with respect to .the
<br />property.
<br />6. Condemnation. In the event the property, or any part thereof, shall be
<br />taken by eminent domain, bonefi.ciary '15 entiLled Lu cullect and "tcic3'vc oli Compenso
<br />.tion which may be paid for any property taken: or for damages ta•. property not taken,
<br />.and Beneficiary shall apply such compensation, at its option, either to a reduction
<br />.of the indebtedness secured hereby or to repair and restore the property so taken.
<br />7. Performance by Beneficiary. Beneficiary may, but shall. have no obligation
<br />to, do any act which Trustor has agreed but failed to do, and Beneficiary may also
<br />do any act it deems necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon demand, any sums so expended by Beneficiary for the above purpa.ses, and any
<br />sum so expended by Beneficiary shall be added to the indebtedness secured hereby
<br />and become secured by the lien hereof. Beneficiary shall not incur any.Perzonal
<br />liability because of anything it may do or omit to do hereunder..
<br />B. Assignment of Rents. Beneficiary shill have the right, power and authority
<br />during the continuance of this Deed of Trust to collect the refits, issues and profits
<br />of the property and of any personal property: .located thereon r:3ith or without -taping
<br />possession of the property affected hereby, acid Trustor hereby absolutely and uncondi-
<br />tionally assigns all such rents, issues and profits to Beneficiary. Beneficiary,
<br />however, hereby consents to Trustor.',s collection and retention of such rents, issues
<br />and profits as they accrue and become payable, so long as Trustor is not, at:, such
<br />time, in default with respect. to payment of any indebtedness secured hereby,, or in
<br />the performance of any agreement 'here6nder. If any event of - default described. here -
<br />after in respect to this Deed of Trust shall have occurred and be continuing, Benef m
<br />ciary, as a matter of right: and without notice to Trustor or :anyone claiming.- ,under
<br />Trustor, and without regard to the value of the trust estate 6 the interest df.• the
<br />Trustor therein, shall have the right to apply to any court having jurisdiction to
<br />appoint a receiver of the property.
<br />9. Transfer of Property._ If' all or tiny part of the property 'br any interest
<br />of Trustor therein is sold, transferred or further encumbered without the express
<br />dr written consent of Beneficiary, Beneficiary may, at its sole option, declare all
<br />sums secured by this Deed of trust to be immediately due. and payable and proceed
<br />to the remedies available to it under the default provisions ccntainedlherein.
<br />10. Events of Default. Any of the' following events shall be deemed ai-,...eyent
<br />of .defaulf' ti6ireunder:
<br />(a)' Trustor shall have f °ailed to make payment of any in-
<br />stallment of interest, principal or principal and interest or
<br />any other sums secured hereby when due;
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