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<br />insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against tho Trust
<br />Property. Trustor further agrees, upon written request t+V Beneficiary. to promptly deliver to Beneficiary all receipts for the payment of
<br />such charges. Trustor likewise agrees to pay all taxes, assessments and other Charges levied upon or assessed, placed or made
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<br />against. or measured by, this Deed of Trust or the recordation hereof.
<br />Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
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<br />S. Application of
<br />may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, liability or ohfigation, In any order
<br />application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, y
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<br />manner of
<br />such payment shall be deemed applied first to the payment of any debt, liability or obligation other than the Note.
<br />from liens and encumbrances which In any way may, in the judgment of
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<br />S. Charges. Liens. Trustor will keep the Trust Property free all
<br />Benefklary, have priority over, or impair the security of, this Deed of Trust but Trustor need not discharge any such lien so long as
<br />lien in a manner acceptable to Beneficiary and shall in good faith
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<br />Trustor shall agree, in writing, to pay the obligation secured by such
<br />contest such ken by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or
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<br />part of the Trust Property.
<br />7. Harard Insurance. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property
<br />"extended
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<br />insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the term coverage" and
<br />as may be required by Beneficiary, in such amounts and for such periods as may be
<br />such other hazards, casualties and contingencies
<br />required by Beneficiary. The pokey of insurance shall be in form acceptable to Beneficiary, provide (list. the same may not be
<br />to Beneficiary, and shall have loss payable provisions in favor of and
<br />cancelled a r►todified wiMmout fifteen (15) days prior written notice
<br />in tam acceptable b Beneficiary. All premiums on insurance policies shall be paid in the mariner provided under paragraph 4 hereof
<br />or, if not paid in such manner, by Tiustor making payment at feast fifteen (IS) days prior. M the due date, directly to the insurance
<br />hdd the and renewals thereof and Trustor shall promptly furnish to Beneficiary all
<br />carrier. Beneficiary shall have the right to policies
<br />renewal notices and all paid premium receipts received by it. In no event shelf Beneficiary or Trustee be held responsible for failure to
<br />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
<br />or for failure by Tiustor to effect the insurance required hereunder, In the event
<br />company to pay for any loss or damage insured against
<br />of loss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof Of loss if not
<br />made promptly or in proper torn by Trusfor. All policies of insurance and any and all refunds of unearned premiums are hereby
<br />assigned to Beneficiary as additional security for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power
<br />force
<br />of sale contained herein, or in the event of foreclosure, all right, title and Interest of Trustor in and to any insurance poliryr then in
<br />foreclosure in case of any loss, the insurance proceeds may, at'the option of
<br />shall pass to the purchaser at the trustee's sale or sale.
<br />Beneficiary, be applied by Beneficiary upon the Indebtedness, or any Hatt theswt, and In.such order and amount es Rerteficia►y MY
<br />at the option of Beneficiary, may either be used in replacing or restoring the Trust Property
<br />determine., or said insurance proceeds,
<br />t tdesyed to a condition satisfactory to Benefoiary: or said Insurance proceeds, or any portion thereof, maybe
<br />Trustor agree in writing, any suchplfcation of insurance proceeds shelf riot
<br />�Iea sed to Tnrsto` Unless Beneficiary and othrwise
<br />nd or postpone the due date of time Note, or any fnsiallmenis ca/Ied for therein, or change the amount of such installments. ff the
<br />or of sale or, other foreclosure, all right, title and interest of
<br />to the of the
<br />trust is acquired fly Beneficiary pursuant exercise power
<br />Trustor in and ro any insurance pretends payable as a result of damage to the Trust Property prior to the sale or acquisition shall pass
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<br />to Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred in collecting such proceeds, then
<br />in the manner and In the order provided herein.
<br />8. Preservation and Maintenance of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on
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<br />the Trust Property in good repair and condition and will not commit or permit waste, will not alter the design or structural character
<br />erected on And consfinttirto the Trust Property without the Arior written consent of i
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<br />4;wsVaiuVr#g arty building now or•hameffec
<br />Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon
<br />Trustor any fixtures constituting the Trust Property unless the same are immediately replaced with
<br />the Trust Property. will not remove
<br />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
<br />all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property
<br />If this Deed of Trust is on a unit in a condominium or a planned unit development, Trustor shall
<br />and to the occupancy and use thereof.
<br />perform all of Trustoes obligations under the declarations or covenants creating or governing the condominium or the planned unit
<br />development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents.
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<br />9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection.
<br />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
<br />Ws to make any such inspection.
<br />10. Protection of Security if Trustor fails to perform any of the covenants and agreements contained in this Deed of Trust, or if any action
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or
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<br />the title of Trustor thereto, then Berrefrciary, at its option, may perform such conennants and agreements, make such appearances,
<br />defend against and investigate such, action or proceeding and take such other action as Beneficiary deems necessary to protect its
<br />interest including, bui.r,ot [united to 'd sbursement of reasonable attorney fees and entry upon the Trust Property to make repairs'. Any
<br />but
<br />amounts disbursed Ber`eficiary pursuant to this paragraph 10, with interest thereon, shall constitute Indebtedness of Trustor
<br />Ttust Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable upon
<br />secured by this Deed of
<br />notice from Beneficiary td Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the default rate,
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<br />if any, set forth in the Nate', or otherwise at the highest rate permitted by law. Nothing contained in this paragraph shall require
<br />Beneficiary to incur arty expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon
<br />the Trust Property as Trustor's agent and, in Trustor's name or otherwise to perform any and all covenants and agreements to be
<br />performed by Trustor as herein provided. Beneficiary shall, at its option, be subrogated to any encumbrance, lien, claim or demand
<br />and to all rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such
<br />subrogaticrr rights shall be addi'tfce.W and cumulative security for this Deed of TrusL
<br />11: Condemnation. The proceeds of envy award or claim for damages, direct or consequential', "in connection with any condemnation or
<br />other taking of the Trust Proper* or any part thereof, or for conveyance in lieu of or in anticipation . of condemnation, are hereby
<br />assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in good faith and with. clue diligence, its claim for any such
<br />award 0,rpayment, and will cause ft same to be collected acrd paid to Beneficiary, and, stoaxj d it fast to do so, Trustor irrevocably
<br />authorizes end empowers Beneficiary, in the name of Trustor orwharwise, to file, prosecute setrI4 or compromise ai^y such clairci and
<br />to COW, receipt for and retain the proceeds. i1 the Trust Property is abandoned by Trustor, or, after notice by BerrePrciary to Trustor
<br />that the condemnor offers to make an award or settle a claim for damages, Trustor fails to respond ra Beneficiary within thirty (3C): days
<br />after the date such raOs a is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The
<br />proceeds of any award or claim may, after deducting all reasonable costs and expenses, including attorney fees, which may have
<br />been incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to
<br />restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree in writing,
<br />of to Indebtedness shall not extend or postpone the due date of the Note or the payment of any
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<br />any such application proceeds
<br />installments called for thereunder.
<br />12. Trustor No! Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary
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<br />to any successor in interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Trustor's successors in
<br />interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise modify amortization of the Indebtedness by reason of any demand made by Trustor and Trustor's successors
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<br />in interest.
<br />13. Financial Information. Upon request of Beneficiary, Trustor will provide to Beneficiary, within ninety (90) days of the close of each fiscal
<br />year of Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the Indebtedness
<br />secured hereby, if any, and will provide and deliver to Beneficiary such other financial Information and in such manner as Beneficiary
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<br />may reasonably request from time to time.
<br />Trustor made in any other agreement. instrument or document.
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<br />14. Financial Covenants. in addition to any other financial covenants of
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<br />Trustor shall comply with and shall cause any and all guarantors of the Indebtedness secured hereby to comply with. or be in
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<br />compliance with, the following financial covenants: (This paragraph shall not apply if covenants and requirements are not set
<br />forth herein)
<br />15 Schedule of Leases Withiri ren 110) days after demand. Trustor shall furnish to Beneficiary a schedule. certified to by Trustor setting
<br />forth all leases; of me Trust Property, or any portion thereof includmg in each cash the name of the tenants vi i a CM .tnrti it !em riptrpn
<br />of thu spac(r oCCuptorl by s lit- 11 renant Ur occupant. the rental payable for such ,pace and sw-t, nrhar ...4,rrriari•rn and tint rrnnrr►, ,vrfh
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<br />nts.lr(• r If, •.uch 1pjp eS and renancres as Nenotic Lary may few.unably rc iiunsr
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