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200106904
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the
<br />term "extended coverage ", and such other hazards as Lender may require, in amounts and with
<br />companies acceptable to Lender, and with loss payable to the Lender. In case 'of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise, all claims hereunder and shall
<br />have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured
<br />hereby and in such order as Lender may determine u to the Borrower to be used for the repair
<br />or restoration of the Property ' ( )
<br />p rty or (iii) for any other purpose or object satisfactory to Lender without
<br />affecting the lien of this Deed of Trust for the full amount secured hereby before such payment
<br />ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Note, or cure any default thereunder or hereunder.
<br />5. Maintenance Repairs and Compliance with Laws. Borrower shall keep the Property in
<br />good condition and repair, shall promptly repair, or replace any improvement which may be
<br />damaged or destroyed, shall not commit or permit any waste or deterioration of the Property; shall
<br />not remove, demolish or substantially alter any of the improvements on the Property; shall not
<br />commit, suffer or permit any act to be done in or upon the Property in violation of any law,
<br />ordinance, or regulation; and shall pay and promptly discharge at Borrower's cost and expense all
<br />liens, encumbrances and charges levied, imposed or assessed against the Property or any part
<br />thereof:
<br />6. Eminent Domain. Lender is hereby assigned all compensation, awards,' damages and other
<br />payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the
<br />Property or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its
<br />option to commence, appear in and prosecute in its own name any action or pi`oceedings, and shall
<br />also be entitled to make any compromise or settlement in connection with such taking or damage.
<br />In the event any portion of the Property is so taken 'or damaged, Lender shall have the option, in its
<br />sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and
<br />expenses incurredlzyit_in connection with. sueli'�ceeds; upon any-indebtedness secured hereby
<br />and in such order as Lender may determine, or to apply all such Proceeds, after such deductions,
<br />to the restoration of the Property upon such conditions as Lender may determine. An application
<br />of Proceeds to indebtedness shall not extend or postpone the due date of an Y under
<br />Note, or cure any default thereunder or hereunder. p Y Payments under the
<br />7. Performance by Lender. In the event of Borrower's failure to perform any of the covenants
<br />herein or make any payments required hereby, or if any act is taken or legal proceeding
<br />commenced which materially affects Lender's interest in the Property, Lender 'nay in its own
<br />discretion, but without obligation to do so, and without notice to or demand upon Borrower and
<br />without releasing Borrower from any obligation, do any act which the Borrower has agreed but
<br />fails to do and may also do any other act it deems necessary to protect the security hereof.
<br />Borrower shall, immediately upon demand therefor by Lender, pay to Lender all costs and
<br />expenses incurred and sums expended by Lender in connection with the exercise by Lender of
<br />the foregoing rights, together with interest thereon at the rate provided in the Note, which shall be
<br />added to the indebtedness secured hereby. Lender shall not incur any personal liability because of
<br />anything it may do or omit to do hereunder.
<br />8. Events of Default. The following shall constitute an event of default under this Deed of
<br />Trust:
<br />(a) Failure to pay any installment of principal or interest or any other sum ;secured hereby
<br />when due, or failure to pay when due any other indebtedness of Borrower to Lender;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any
<br />document which secures the Note, and any other.encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against Borrower
<br />which shall become a lien on the Property or any portion thereof or interest therein;
<br />(d) There shall be filed by or against Borrower an action under any present or future federal,
<br />state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for
<br />debtors; or there shall be appointed any trustee, receiver or liquidator of Borrower or of all
<br />or any part of the Property, or the rents, issues or profits thereof, or Borrower shall make
<br />any general assignment for the benefit of creditors.
<br />(e) The sale, transfer, assignment, conveyance or further encumbrance of all or any part of or
<br />any interest in the Property, either voluntarily or involuntarily, without the express written
<br />consent of Lender.
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