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Loan No: 3408320144
<br />201707009
<br />DEED OF TRUST
<br />(Continued) Page 10
<br />Grantor/Trustor /Mortgagor fail to do any act required to be done by Grantor/Trustor /Mortgagor hereunder, then Lender,
<br />at its option and without notice, may make or do the same in such manner and to such extent as Lender deems
<br />necessary to protect the security hereof. Grantor/Trustor /Mortgagor agrees to pay to Lender immediately upon demand
<br />all sums expended under the authority hereof, including reasonable attorneys' fees, together with interest thereon at the
<br />highest rate per annum payable under any Indebtedness, and the same, at Lender's option, may be added to the
<br />Indebtedness and secured hereby.
<br />ASSOCIATION OF UNIT OWNERS. The following provisions apply if the Real Property has been submitted to unit
<br />ownership law or similar law for the establishment of condominiums or cooperative ownership of the Real Property:
<br />A. Power of Attorney. Trustor /Grantor grants an irrevocable power of attorney to Lender to vote in Lender's discretion
<br />on any matter that may come before the association of unit owners. Lender shall have the right to exercise this power
<br />of attorney only after Trustor's /Grantor's default; however, Lender may decline to exercise this power as Lender sees
<br />fit.
<br />B. Insurance. The insurance as required herein for the Real Property must include both unit and building coverage. The
<br />insurance may be carried by the association of unit owners on Trustofs /Grantor's behalf, and the proceeds of such
<br />insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If
<br />not so used by the association, such proceeds shall be paid to Lender.
<br />C. Default. Trustor's /Grantor's failure to perform any of the obligations imposed on Trustor /Grantor by the declaration
<br />submitting the Real Property to unit ownership, by the bylaws of the association of unit owners, or by any rules or
<br />regulations thereunder, shall be an event of default under this Deed of Trust. If Trustor's / Grantor's interest in the Real
<br />Property is a leasehold interest and such property has been submitted to unit ownership, any failure by Trustor /Grantor
<br />to perform any of the obligations imposed on Trustor /Grantor by the lease of the Real Property from its owner, any
<br />default under such lease which might result in termination of the lease as it pertains to the Real Property, or any failure
<br />of Trustor /Grantor as a member of an association of unit owners to take any reasonable action within
<br />Trustor's /Grantor's power to prevent a default under such lease by the association of unit owners or by any member of
<br />the association shall be an Event of Default under this Deed of Trust.
<br />FAILURE TO PROVIDE INSURANCE. Grantor/Trustor /Mortgagor ( "Owner ") acknowledges and agrees that if Owner fails
<br />to provide any required insurance on the terms set forth herein or in any Related Documents, or fails to continue such
<br />insurance in force in compliance with the requirements of this agreement or any Related Documents, Lender may
<br />purchase insurance at Owner's expense as provided therein. Such insurance may protect Lender's interests, and may
<br />otherwise protect none of, or less than all of, Owner's interests. The cost of any such insurance shall become a part of
<br />the Indebtedness and shall be payable on demand or added to the Note as provided herein, at Lender's option. OWNER
<br />ACKNOWLEDGES THAT IF LENDER SO PURCHASES ANY SUCH INSURANCE, THE INSURANCE MAY PROVIDE
<br />LIMITED PROTECTION AGAINST PHYSICAL DAMAGE TO THE COLLATERAL, UP TO THE BALANCE OF THE LOAN;
<br />HOWEVER, OWNER'S EQUITY IN THE COLLATERAL MAY NOT BE INSURED. IN ADDITION, THE INSURANCE MAY
<br />NOT PROVIDE ANY PUBLIC LIABILITY OR PROPERTY DAMAGE INDEMNIFICATION AND MAY NOT MEET THE
<br />REQUIREMENTS OF ANY FINANCIAL RESPONSIBILITY LAWS.
<br />LENDER TO BE NAMED LOSS PAYEE. All required policies and certificates of insurance shall name
<br />Mortgagee /Beneficiary as loss payee, and shall provide that the insurance cannot be terminated as to
<br />Mortgagee /Beneficiary except upon a minimum of ten (10) days' prior written notice to Mortgagee /Beneficiary.
<br />Immediately upon any request by Lender /Mortgagee /Beneficiary, Grantor/Trustor /Mortgagor shall deliver to
<br />Lender /Mortgagee /Beneficiary the original of all such policies or certificates, with receipts evidencing annual prepayment
<br />of the premiums.
<br />ARBITRATION AGREEMENT. Arbitration - Binding Arbitration. Lender and each party to this agreement hereby agree,
<br />upon demand by any party, to submit any Dispute to binding arbitration in accordance with the terms of this Arbitration
<br />Program. Arbitration may be demanded before the institution of a judicial proceeding, or during a judicial proceeding, but
<br />not more than 60 days after service of a complaint, third party complaint, cross - claim, or any answer thereto, or any
<br />amendment to any of such pleadings. A "Dispute" shall include any dispute, claim or controversy of any kind, whether
<br />in contract or in tort, legal or equitable, now existing or hereafter arising, relating in any way to any aspect of this
<br />agreement, and any related note, instrument or agreement incorporating this Arbitration Program (the "Documents"),
<br />and any renewal, extension, modification or refinancing of any indebtedness or obligation relating thereto, including
<br />without limitation, their negotiation, execution, collateralization, administration, repayment, modification, extension,
<br />substitution, formation, inducement, enforcement, default or termination, and any request for additional credit;
<br />provided, however, that "Dispute" shall not include any dispute, claim or controversy with respect to a "consumer
<br />financial product or service" (as defined in 12 U.S. Code Section 5481 (5)) within the coverage of 12 CFR Part 1040.3.
<br />This provision is a material inducement for the parties entering into the transactions relating to this Agreement. In the
<br />event of a court ordered arbitration, the party requesting arbitration shall be responsible for timely filing the demand for
<br />arbitration and paying the appropriate filing fee within 30 days of the abatement order or the time specified by the
<br />court; the party's failure to do so shall result in that party's right to demand arbitration being automatically terminated
<br />with respect to such Dispute. DISPUTES SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT BY A JUDGE
<br />OR JURY. TO THE EXTENT ALLOWED BY APPLICABLE LAW, THE PARTIES IRREVOCABLY AND VOLUNTARILY
<br />WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARBITRATED
<br />PURSUANT TO THIS ARBITRATION PROGRAM.
<br />A. Governing Rules. Any arbitration proceeding will (i) be governed by the Federal Arbitration Act (Title 9 of the United
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