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F1 89-- 100556 insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the Trust Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the payment of such charges. Trustor likewise agrees to pay all taxes, assessments and other charges levied upon or assessed, placed or made against, or measured by, this Deed of Trust or the recordation hereof. 5. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, liability or obligation, In any order or manner of application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any such payment shall be deemed applied first to the payment of any debt, liability or obligation other than the Note. 6. Charges; Dens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment of Beneficiary, have priority over, or impair the security of, this Deed of Trust but Trustor need not discharge any such lien so long as Trustor shall agree. in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall In good faith contest such On by appropriate legal proceedings effective to prevent the enforcement of the lion and the loss of any Interest in or part of the Trust Property. 7. Hazard Insurance. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property Insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the'term "extended coverage" and such other hazards, casualties and contingencies as may be required by Beneficiary, In such amounts and for such periods as may be required by Beneficiary. The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and In form acceptable to Beneficiary. All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid in such manner, by Trustor making payment at least fifteen (15) days prior to the due date, directly to the insurance carrier. Beneficiary shag have the fight to hold the policies and renewals thereof and Trustor shall promptly famish to Beneficiary all renewal notices and all paid premium receipts received by it. in no event shall Beneficiary or Trustee be halr,f responsible for failure to pay insurance premiums or for any loss or damage arising out of a! defect in any policy or arising Out of any failure of any Insurance company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. in the event of lass, Tnrstorshaft give prompt notice by mail to the insurance carver and Beneficiary. Beneficiary may make proof of loss if not made promptly or in proper form by Trustor. All policies of insurance and any and all refunds of unearned premiums are hereby assigned to Beneficiary as addctional security for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power of sale contained herein, or 01 doe event of foreclosure, all right title and interest of Trustor in and to any insurance policy then in force shall pass to tire purchaser at the trustae'e sale or foreclosure sale. In case of any loss, the insurance proceeds may, at the option of Beneficiary, lass applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amount as Beneficiary may determine; or said insurance proceeds, at the option of Beneficiary, may either be used in replacing or restoring the Trust Property pard&J p ci':ct'ally destroyed to a condition satisfactory, to Beneficiary; or said Insurance proceeds, or any portion thereof, may be relea si di to Trustor. Unless Beneficiary anO Trustor otherwise agree.in writing, any such application of insurance proceeds shall not extend &,poi *one the due date of the Notu,, or any installments called for therein, or change the amount of such installments. If the Trust Pmper!'ye is acquired by Beneficiary p' ursuant to the exercise of the power of sale or other foreclosure, all right, title and interest of Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisXon shall pass to Beneficiary and shall be applied first to the costs and expenses, including atbmey fees, incurred in collecting such proceeds, then In the manner and in the order provided herein. 8. Preservation and Maintenance of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on ft T „=t PrCP&V hT g"d repa'i'r s. -t' coyi� Want &:iii will not commit or permit waste, will notBiter the design or structural cnaracter constituting any budding now or hereafter erected on and constituting the Trust Property without the prior written consent of ? Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of ifxe Trust Property and will not abandon the Trust Property. Trustor will not remove any fixtures constituting the Trust Property unless . the same are immediately replaced with V like. property subject to the lien and security interest of this Deed of Trust and of at least equal value and utility. Trustor will comply with all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property and to the occupancy and use thereof. If this Deed of Trust is on a unit in a condominium or a planned unit development, Truster shag -- perform all of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents. - 9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection. Beneficiary shall have no duty to make such inspection and shall not be liable to Trustor or to any person in possession if it makes or fails to make any such, inspection. 10. Protection of Becunty. N Trustor fails to perform any of the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or the We of Trustor thereto, then Beneficiary, at its op6an, may perform such covvenants and agreements, make such appearances, ;• defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its -' interest including, but not limited to, disbursement of reasonable attamey fees and entry upon the Trust Property to make repairs. Any 'with amounts disbursed by Beneficiary pursuant to this paragraph 10, interest thereon, shall constitute Indebtedness of Trustor secured by this Deed Trust. of Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable uponr notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the default rage, if any, set forth in the Note, or otherwise at the highest rate permitted by law. ha#Wng contained in this paragraph shall require Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon the Trust Property as Trustor's agent and, in Trustor's name or otherwise to perform any and all covenants and agreements to be performed by Trustor as herein provided.. Beneficiary shall, at its opfon, be subrogated to.any encumbrance, lien, claim or demand and to all rights and securities for the payment thereof paid or discharged by Benef, ciary under the provisions hereof and any such subrogation fights shall be additional and, cumulative security for this Deed of Trust: 11. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or Odher taking of the Trust Property, or any part thereof, or for conveyance in lieu of or in anticipation of condemnation, are hereby assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in good faith and with due diligence, its claim, for any such award or payment, and will cause the same to be collected and pa(d to Beneficiary, and, should it tail to do so, Trustor irrevocably auffborizes and empowers Beneficiary, in the name of Trustor or otherwise, to file, prosecute, settle or compromise any slich claim and to collect, receipt for and retain the proceeds. if the Trust Property is abandoned by Trustor, or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a•claim for damages, Trustor fails to respond to Beneficiary withlrt thirty (30) days after the date such notice is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The proceeds of any award or claim may, after deducting all reasonable costs and expenses, including attorney fees, which; may have been incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Truster otherwise agree in writing, any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note' or the payment of any Installments called for thereunder. - 12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary to any successor in interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Truster's successors in interest Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the indebtedness by reason of any demand made by Trustor and Truster's successors all in interest. L 13. Financial information. Upon request of Beneficiary. Trustor will provide to Beneficiary, within ninety (90) days of the close of each fiscal year of Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the Indebtedness secured hereby, if any, and will provide and deliver to Beneficiary such other financial information and in such manner as Beneficiary r may reasonably request from time to time. 14. Financial Covenants. In addition to any other financial covenants of Trustor made to any other agreement, instrument or document. Trustor shall comply with and shall cause any and all guarantors of the fndebtedness secured hereby r +� F• to comply with,, or be in compliance with. the following financial covenants (This paragraph shall not apply it covenants and requirements are not set forth herein 1 15 Schodute of I oa.4es Within ten 110, days after demand, Trustor shall furnish to Bonoftoary a si hnduif, r erlifu(l to h; l rt.stt. ;r.n -• r� forth all teases of the irrll;t Property• or any l,nrtron thereof. inducting to each caso. the namf of fell, fomIfIlc of :., , „t,,tnl.; ,, .fi ., „r•.•;,,,, 1 of tho sfiacft nGl. Ujt,ep by'wch tenarlt fir ocCup.ml. the /Brutal payable for SUCK sJ)al C' do %J •Ui h Ir'ln rrrr•r• ,,r,,, ,,�•ul 1• n'r.rr!., ,y lh rOSfKJ(l try Stjr.h'!!,Y.!'t }]hrf frtn;rnGrlP• W, HVI"O 1,1ty play reasehabiv rvauwa ......__..// 1